GIFT City Partners with Vietnam to Build Global Financial Hub

Gujarat International Finance Tec-City (GIFT City), India’s sole International Financial Services Centre (IFSC), has forged a Memorandum of Understanding (MoU) with the nascent Vietnam International Financial Center – Da Nang (VIFC-DN). This strategic alliance aims to facilitate the crucial exchange of institutional knowledge and best practices, providing Vietnam with a foundational blueprint for its own international financial hub.

The development of a globally competitive financial center is not merely about infrastructure; it is fundamentally about the intricate institutional frameworks and operational expertise that underpin a robust financial ecosystem. GIFT City, having navigated its own developmental journey, now acts as a valuable repository of lessons, offering VIFC-DN the benefit of its experience in building such a complex entity from the ground up.

The Framework of Collaboration: Building Financial Ecosystems

The collaboration between GIFT City and VIFC-DN extends across several pivotal areas essential for financial sector maturation. It encompasses direct knowledge sharing in financial services, the burgeoning field of fintech and digital innovation, and critical capacity building initiatives. Furthermore, the partnership explicitly targets the exploration of cross-border investment opportunities, aiming to cultivate stronger business linkages between India and Vietnam.

This is a first-principles approach to ecosystem development, recognizing that a financial center’s success hinges on a confluence of regulatory clarity, technological integration, and a skilled workforce. By engaging in joint research, publications, professional exchanges, and various outreach initiatives like conferences and seminars, both institutions are working to establish a durable framework for mutual growth.

GIFT City’s Proven Model and Expanding Influence

Mr. Sanjay Kaul, Managing Director and Group CEO of GIFT City, underscored the indispensable role of international collaboration in constructing financial centers capable of competing on a global stage. His optimism highlights the structural benefits of such partnerships, which promise to deepen financial and business ties, creating a more interconnected Asian financial landscape.

GIFT City’s own trajectory provides a compelling case study for this model of development. As of March 2026, it hosts over 1,500 entities, demonstrating significant operational scale. Its banking assets have reached USD 111 billion, with cumulative capital commitments in its fund management ecosystem surpassing USD 39 billion. These figures are not just statistics; they represent the tangible expertise and operational maturity that GIFT City brings to the partnership, allowing it to serve as a potent knowledge transfer partner.

Beyond its engagement with VIFC-DN, GIFT City has recently expanded its collaborative network, signing two additional strategic MoUs. One agreement with Tata Communications aims to position GIFT City as a premier destination for Global Capability Centres (GCCs) and technology enterprises, further diversifying its economic base. Another partnership with CEPT University focuses on research, knowledge exchange, executive education, sustainability studies, and urban planning, showcasing a holistic approach to developing the human and intellectual capital necessary for a thriving financial hub.

These multi-faceted collaborations collectively illustrate a structural pattern: the successful development of international financial centers increasingly relies on strategic alliances and the systematic transfer of institutional knowledge. Such partnerships are vital for accelerating growth, mitigating developmental risks, and ultimately fostering a more integrated global financial system, moving beyond mere transactional relationships to build durable, shared economic infrastructure.