GIFT City partners with Vietnam's Da Nang financial centre to share expertise in building global financial hubs
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Gujarat International Finance Tec-City (GIFT City), India's International Financial Services Centre (IFSC), has signed a memorandum of understanding (MoU) with the Vietnam International Financial Center–Da Nang (VIFC-DN) to share institutional knowledge and best practices as Vietnam develops its new international financial hub.
The collaboration aims to leverage GIFT City's experience in building India's only IFSC while supporting the development of Vietnam's emerging financial centre. The partnership will focus on financial services, fintech, digital innovation, capacity building, and financial sector development while exploring opportunities to strengthen cross-border investment and business linkages between India and Vietnam.
Under the agreement, the two institutions will also undertake joint research and publications, facilitate professional exchanges, organise conferences and seminars, and collaborate on outreach initiatives and areas of mutual interest.
Commenting on the partnership, Sanjay Kaul said international collaboration is critical to developing globally competitive financial centres. "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 said.
The Vietnam partnership follows two other strategic collaborations recently signed by GIFT City to strengthen its ecosystem across global capability centres (GCCs), urban development, education and research.
GIFT City has entered into an MoU with Tata Communications to jointly position the financial hub as a preferred destination for GCCs, treasury centres, technology companies, and other service-oriented businesses. The partnership will include stakeholder engagement, market intelligence sharing and business development initiatives.
Separately, GIFT City has signed an MoU with CEPT University to collaborate on research, executive education, sustainability studies, urban planning, knowledge exchange and capacity building, leveraging the university's expertise in architecture, planning, design and urban management.
GIFT City has continued to expand its financial ecosystem in recent years. The IFSC currently hosts more than 1,500 entities. As of March 2026, banking assets at GIFT City stood at $111 billion while its fund management ecosystem comprised 217 fund management entities overseeing 360 schemes with cumulative capital commitments exceeding $39 billion.