International experts believe that, thanks to its distinctive advantages, the newly launched Da Nang International Financial Centre (IFC) will develop sustainably, enhance Vietnam’s standing on the regional and global financial map, and create a fresh growth engine for the central coastal city.
Building modern, efficient IFC
Ali Ijaz Ahmad, Chairman and CEO of Makara Capital Partners, said that drawing on its extensive experience and deep connections in international financial markets, the group is committed to continuing its close cooperation with Da Nang authorities and the IFC Da Nang executive body to help build a modern, world-class and efficient international financial centre, in line with the city’s investment-attraction priorities.
He also revealed that Makara Capital Partners is in discussions with a leading global university to promote the establishment of an international development centre in Da Nang, focusing on multidisciplinary research. The project is expected to develop into a research institution of international standing, attracting scientists and leading experts from across the region, while providing a strong knowledge base for policy-making and technological development. He expressed his hope for continued support from the city’s leadership for this initiative.
According to Makara Capital Partners, the combination of IFC Da Nang and the Da Nang Free Trade Zone, together with the city’s attractive living and working environment, will be a key factor in drawing investors and could become a breakthrough driver for its development in the coming period.
However, Ali Ijaz Ahmad stressed that establishing the IFC is only the first step. The greatest challenge ahead lies in operating the centre in line with international standards and building trust among multinational corporations and global investors. This will require a modern, transparent and credible legal framework aligned with international practices; mechanisms allowing the free conversion and repatriation of capital, including profits; high-quality human resources; efficient, flexible and highly adaptable technological infrastructure; and a professional, integrated and comprehensive service ecosystem. This is a long-term journey demanding strong determination, unity and even closer coordination between government authorities and the business and investment community.
Makara Capital Partners, an international financial group headquartered in Singapore with more than two decades of experience in investment fund management, corporate restructuring and project finance, has advised on and invested over 20 billion USD worldwide, particularly in innovation, infrastructure and energy.
Towards forming specialised financial centre
An international lawyer with nine years’ experience as a senior adviser at the Qatar Financial Centre and later serving as CEO of the Nairobi International Financial Centre, Oscar Njuguna has now officially taken up the role of director of the IFC Da Nang Board.
Njuguna said he decided to join IFC Da Nang after recognising its significant potential and development opportunities. Vietnam, he noted, is developing rapidly and is well known for strong innovation in science and technology, fintech, green finance and related fields.
He also highlighted that Da Nang has successfully built a strong brand as a leading tourism city, which will greatly contribute to the future development of the IFC. A renowned coastal city is an attractive destination for top global experts seeking a place to live and work, thereby giving IFC Da Nang favourable conditions to recruit talent in fintech, green finance and innovation.
Njuguna expressed confidence that Da Nang and Ho Chi Minh City would support and complement each other’s strengths in realising the vision of a Vietnamese financial centre.
He further stressed that close and well-judged leadership and direction from all levels of government are crucial to the establishment and growth of IFC Da Nang. In addition, allowing the application of new technologies, particularly through controlled pilot mechanisms (sandbox), would give investors greater opportunities to boldly test innovative ideas and promote scientific and technological research. These are sound and forward-looking policy directions being pursued by Vietnam, the expert said./.
