GIFT City Partners With Vietnam's Da Nang Financial Center
Gujarat International Finance Tec-City (GIFT City), India’s International Financial Services Centre (IFSC), has entered into a memorandum of understanding (MoU) with the Vietnam International Financial Center–Da Nang (VIFC-DN) to exchange institutional knowledge and best practices while Vietnam builds its new international financial hub.
The partnership seeks to utilize GIFT City's expertise in creating India's sole IFSC while aiding the growth of Vietnam's nascent financial hub.
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The collaboration will emphasize financial services, fintech, digital innovation, capacity building, and the development of the financial sector, while seeking opportunities to enhance cross-border investment and business connections between India and Vietnam.
As part of the agreement, the two organizations will engage in collaborative research and publications, enable professional exchanges, host conferences and seminars, and work together on outreach efforts and shared interests.
Sanjay Kaul remarked that global cooperation is essential for creating financially competitive centers worldwide.
"Through our partnership with Vietnam International Financial Center–Da Nang, we will share the knowledge and institutional experience gained from GIFT City's development while exploring new opportunities in financial services, fintech and investment. We believe this collaboration can contribute to stronger financial and business linkages between India and Vietnam," Kaul says.
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The Vietnam collaboration comes after two additional strategic partnerships recently established by GIFT City to enhance its ecosystem in global capability centres (GCCs), urban development, education, and research.
GIFT City has signed an MoU with Tata Communications to collaboratively promote the financial hub as an ideal location for GCCs, treasury centers, technology firms, and other service-based enterprises. The collaboration will involve engaging stakeholders, sharing market intelligence, and initiating business development efforts.
Independently, GIFT City has established an MoU with CEPT University to work together on research, executive education, sustainability studies, urban planning, knowledge sharing, and capacity development, utilizing the university's proficiency in architecture, planning, design, and urban management.
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GIFT City has consistently developed its financial ecosystem in recent years. The IFSC is currently home to over 1,500 organizations. By March 2026, GIFT City's banking assets reached $111 billion, and its fund management sector included 217 entities managing 360 schemes with total capital commitments surpassing $39 billion.