Promoting cooperation between Da Nang and Luxembourg's fintech partners

Standing Vice Chairman of the Da Nang People's Committee Ho Ky Minh introduced the policy of building an international financial center in Vietnam, the conditions of location and international connectivity, infrastructure, quality of living and business environment in Da Nang, vision and specialized development orientation of the Da Nang International Financial Center - Photo: VGP/Nguyen Hoang

XGD Europe is a member of XGD Group - the world's leading group specializing in the design, research and development, production, sales and service of payment terminals. Founded in 2001, it has now developed into a multi-industry group focusing on mobile payment devices, mobile payment platforms and artificial intelligence.

Meanwhile, DTCPay is a leading digital payment service provider in Asia, founded by Band Zhao, providing advanced cryptocurrency payment services, enabling partners and merchants to accept payments in both cryptocurrencies and fiat currencies at over 100 million locations worldwide.

Mr. Ho Ky Minh introduced the policy of building an international financial center in Vietnam, including Da Nang, the conditions of location and international connectivity, infrastructure, quality of living and business environment in Da Nang, the vision and specialized development orientation of the Da Nang International Financial Center.

In which, the core values ​​of green, smart, digital, innovation, customer and quality of life are taken as the core values ​​to aim for. The core values ​​that Da Nang Financial Center is aiming for are very close to the strategic values ​​that XGD Europe, DTCPay, prominent financial institutions in the world's digital payment field are building.

Standing Vice Chairman of Da Nang City People's Committee Ho Ky Minh took a souvenir photo with the CEO of XGD Europe and the leadership representative of DTCPay - Photo: VGP/Nguyen Hoang

According to Mr. Ho Ky Minh, crypto-asset and crypto-currency transactions are issues that Vietnam in general and Da Nang in particular are very interested in; he requested to share experiences in development, operation as well as investment opportunities in this field.

At the meeting, the leaders of XGD Europe and DTCPay raised many issues regarding infrastructure, human resources, legal framework regulating digital payment activities, crypto asset transactions, as well as expressed interest in policy mechanisms, such as taxes, visas, and the application of international practices in dispute resolution to promote foreign investors' participation in this market of Vietnam through international financial centers.

The working delegation from Da Nang and representatives of the Foreign Investment Agency informed about the current status of development of digital banking services and digital payments in Vietnam in recent times and the potential for development in the coming time.

At the same time, it clarified many contents related to outstanding mechanisms and policies expected to be applied to the international financial center in Vietnam, the formation of a competitive business environment with special administrative and investment procedures, and proposed orientations to open up opportunities to form a specialized international financial center based on innovation, promoting the development of digital payment activities, crypto-asset transactions, cryptocurrencies, contributing to the development in the new era of development of Vietnam.

Nguyen Hoang