Nidhi Dave
GANDHINAGAR, July 7: Gujarat International Finance Tec-City (GIFT City), a financial services centre (GIFT City), has signed a Memorandum of Understanding (MoU) with Vietnam International Financial Center–Da Nang (VIFC-DN) to strengthen financial cooperation and promote cross-border investment between India and Vietnam.
The partnership aims to support the development of Vietnam’s financial hub while creating new opportunities for businesses and investors. GIFT City will also share its expertise to help Da Nang strengthen its international financial ecosystem.
Gujarat International Finance Tec-City is India’s first operational greenfield smart city and International Financial Services Centre (IFSC), located in Gandhinagar, Gujarat. It functions as a global financial and IT hub designed to rival centers like Dubai and Singapore.
According to an official release, GIFT City will share its experience and best practices in developing India’s only International Financial Services Centre to support the growth of Vietnam’s Da Nang financial hub.
The partnership extends beyond investment promotion. Both institutions will jointly undertake research projects, publish studies, organise conferences and seminars, facilitate professional exchanges and maintain regular institutional engagement on areas of mutual interest. These initiatives are expected to foster knowledge sharing and support the development of globally competitive financial ecosystems.
GIFT City Managing Director and Group CEO Sanjay Kaul said the partnership would create new opportunities in financial services, fintech and investment while strengthening financial and business ties between India and Vietnam. He added that international collaboration was key to building globally competitive financial centres.
GIFT City had recently signed two strategic MoUs aimed at strengthening its ecosystem across Global Capability Centres (GCCs), urban development, education and research. GIFT City has also signed a MoU with Tata Communications to position the financial hub as a preferred destination for Global Capability Centres (GCCs), treasury centres and technology-driven businesses. The partnership will also focus on stakeholder engagement, market intelligence and business development.
The agreement also reflects GIFT City’s growing global outreach. Besides Tata Communications, the financial hub in recent weeks has also signed strategic partnerships with organisations like Ahmedabad – based CEPT University to strengthen its ecosystem across technology, research, urban development and Global Capability Centres (GCCs).
As of March 2026, GIFT City hosts more than 1,500 entities with banking assets exceeding $111 billion, reinforcing its position as India’s gateway for international financial services.
