Da Nang has great potential for projecting itself as a leading financial center in Central Viet Nam and Central Highlands in the future.

Many banks are found on Nguyen Van Linh which is considered as a ‘financial street’ in Da Nang

Da Nang is one of major economic centers in Central Viet Nam and Central Highlands, and in Viet Nam at large, thanks to its convenient transportation systems via roads, railways, airways, and waterways.

Noticeably, Da Nang International Airport is one of Viet Nam's three largest, and it serves an important gateway for air transport in Central Viet Nam. It welcomes 17 million passengers per year, and this figure is expected to increase to around 30 million by 2030.

Dozens of foreign and national flag air carriers are operating a combined total of 40 international routes connecting Da Nang with other destinations around the world with a frequency of 480 flights per week, an increase of 20 routes when compared with 2015.

Flights from Da Nang are only between 2-3 hours to dynamic economies of Asia such as Singapore, Thailand, China, and Malaysia.

Meanwhile, the Da Nang Port continues securing its position as the large port in Central Viet Nam, and one of major and modern ports in Viet Nam in the coming time. This will help to ensure the rapid growth and sustainable development of Da Nang in order to meet the requirements in the fiercely competitive context of the market economy.

Besides, Da Nang is pushing ahead the implementation of the 8.4ha Danang Gateway project on Vo Van Kiet Street in Son Tra District. The 2 billion USD development will include high-rise residential buildings, shopping and financial centres, plus a prize-winning game club. Once operational, it promises to be an attractive place for financial institutions worldwide to visit to learn about  the city’s investment climate.

Transactions at the Da Nang branch of Vietcombank

Smartphone customers now has the best 4G availability and the 4G coverage experience in Da Nang. Free wireless internet are provided for the public and tourists on major streets in Da Nang, including residential quarters, schools and beaches.

Some software parks have been built across the city in a bid to meet the businesses’ needs of premises and facilitate them to pour their money into the city’s priority aspects of hi-tech, IT and digital economic development.

Besides, Da Nang has secured its top position in Viet Nam’s information and communications technology (ICT) index for 11 consecutive years from 2009 to 2019.

As a key driver of central regional economic growth, Da Nang has strengthened its position as an attractive destination for investment over recent years thanks to its great efforts in attracting new investment inflows, especially foreign direct investment (FDI).

Da Nang now has a population of more than 1.1 million people, of whom 55% are in the working age group, and the proportion of already-trained workers accounts for about 63% of the total. These figures suggest that the city has an abundant labour force.

Currently, the city has three universities offering finance - banking training courses, including many training programmes abroad for 1 to 2 years. Notable among them is the University of Economics which annually provides more than 250 well-trained specialised students.

In addition to on-site trained human resources, Da Nang is also famous for its High-quality Human Resources Development Project (Project No 922) to attract graduates from prestigious domestic and international universities, with excellent or good academic results, to work for local government departments and agencies.

By MAI QUE - Translated by M.D