GIFT City signs MoU with Vietnam's Da Nang financial hub to boost investment
New Delhi, July 7
India's International Financial Services Centre Gujarat International Finance Tec-City on Tuesday announced collaboration with Vietnam International Financial Center - Da Nang, a newly established financial hub, to share institutional knowledge and best practices.
The two institutions recently signed an MoU that aims to help Vietnam develop its international financial center and pave the way for cross-border investment across countries.
"Having built India's only IFSC from the ground up, GIFT City will share lessons and institutional experience from its development journey as VIFC-DN takes shape," the release said.
The partnership will cover financial services, fintech and digital innovation, capacity building and financial sector development, while exploring opportunities for cross-border investment and stronger business linkages between India and Vietnam.
The two institutions will also collaborate on joint research and publications, professional exchanges, conferences, seminars and outreach initiatives, and maintain institutional engagement on areas of mutual interest, the release added.
Sanjay Kaul, Managing Director and Group CEO, GIFT City, said the collaboration will explore new opportunities in financial services, fintech and investment, along with sharing institutional experience.
"International collaboration is essential to building globally competitive financial centres... We believe this collaboration can contribute to stronger financial and business linkages between India and Vietnam," Kaul added.
GIFT City had recently signed two strategic MoUs aimed at strengthening its ecosystem across Global Capability Centres (GCCs), urban development, education and research.
An MoU with Tata Communications aims to jointly position GIFT City as a preferred destination for GCCs, treasury centres, technology enterprises and other service-oriented businesses. The partnership will also cover stakeholder engagement, market intelligence sharing and business development initiatives.
Another MoU with CEPT University enables collaboration on research, knowledge exchange, executive education, sustainability studies, urban planning and capacity building, drawing on the university's expertise in architecture, planning, design and urban management.
GIFT City currently hosts more than 1,500 entities and holds banking assets worth $111 billion as of March 2026.
— IANS
Reader Comments
Impressive to see GIFT City already collaborating internationally. But I hope this isn't just a photo-op MoU. Need to see concrete outcomes like actual cross-border investments and business deals rather than just seminars and research papers. Actions speak louder than words.
GIFT City has come a long way since its inception. $111 billion in banking assets is no joke! Glad to see India taking the lead in financial infrastructure development in Asia. This MoU with Da Nang is a strategic step to challenge Singapore and Dubai as regional financial hubs. Slowly but surely, we are getting there. 👏
Good move but GIFT City needs to address some home truths first. The city is still under-occupied compared to its capacity, and many firms complain about connectivity and operational issues. Before exporting our model, we should ensure it's fully polished. Still, credit where due - this initiative shows Indian confidence on the global stage.
Interesting collaboration. Vietnam is a rising star in manufacturing and tech, and linking their financial hub with India's could create a nice corridor for capital flows. The fintech angle is particularly promising - both countries have young, digital-native populations. Hope this leads to real innovation rather than just bureaucratic exchanges.
This is exactly the kind of proactive diplomacy India needs. While everyone focuses on China, we are quietly building economic bridges across Southeast Asia. Vietnam and India share historical ties and strategic interests. If GIFT City can help Da Nang develop while boosting Indian investment in Vietnam, it's a masterstroke for India's Act East policy.
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