Da Nang, March 1 -- The Ministry of Planning and Investment is trying to push through a scheme to establish an international financial hub in the central city of Da Nang.

The programme, which is part of the ministry's efforts to revise Resolution No.119/2020/QH14 on Piloting the Urban Government Model and Certain Development Policies in Da Nang city, aims to leverage Vietnam's advantages, especially those in Da Nang, to attract the capital flows from other traditional financial markets.

The hub will serve as a separate offshore financial centre with a highly competitive system of tax and oversight and will be linked with domestic financial markets that are on track for capital account liberalisation.

The scheme also proposes a Free Tra...