On October 31, the Trade Promotion Agency (Ministry of Industry and Trade) chaired the Trade Promotion Conference for October 2024 with the theme "Discussion on the Project to establish Da Nang Free Trade Zone: The role of Vietnamese trade offices abroad".
At the conference, leaders of the Trade Promotion Agency, the Import-Export Department, leaders of Da Nang city, businesses, associations and trade offices exchanged and discussed specific solutions and tasks to promote the development of the logistics industry; orientation for building Da Nang Free Trade Zone according to Resolution 136/2024/QH15 of the National Assembly on the organization of urban government and piloting a number of specific policies and mechanisms for the development of Da Nang city.
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| The conference discussed solutions to help Da Nang soon establish a free trade zone. Photo: Phuong Cuc |
At the same time, many Vietnamese trade representatives abroad also exchanged and focused on international experience to contribute ideas, build and complete the project to build and operate a free trade zone with Da Nang city.
Mr. Truong Xuan Trung, First Secretary in charge of the Vietnam Trade Office in the United Arab Emirates (UAE), explained two reasons why the UAE focuses on developing free trade zones. Firstly, the UAE is shifting its goals, not depending on the oil economy but has shifted to a green economy, a clean economy, a digital economy, and a service economy. Therefore, trade turnover plays an important role, being one of the pillars promoting the UAE's economic development. Secondly, in 2023, the UAE established a Ministry of Investment to attract foreign investors.
From the strengths of the UAE free trade zone, Mr. Trung gave some notes for Da Nang to learn and build a complete project such as speeding up the licensing process, perfecting infrastructure, land fund, policies, etc.
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Vietnamese trade offices abroad attended the conference online. Photo: Phuong Cuc |
Sharing Canada’s experience in developing free trade zones, Ms. Tran Thu Quynh – Trade Counselor in Canada said: “ Over the past few years, the Canadian government has tried to position Canada as an attractive destination for foreign investment. To achieve this goal, tariffs have been essentially eliminated on all production inputs, including machinery, equipment and other inputs used in the industrial production sector. This initiative has made Canada the first country in the G20 to introduce a duty-free zone for industrial manufacturers. Furthermore, since this is a nationwide initiative, the federal government has promoted the elimination of tariffs and essentially turned Canada into a major foreign trade zone for companies importing production inputs .”
Vietnamese Trade Counselor in India Bui Trung Thuong said that from India's experience, Da Nang needs to promote connections with markets, attracting countries to Da Nang, Vietnam.
“ To develop, we must have new, attractive industries, green transformation, digital transformation, and circulation. A smart city needs a globally connected financial, insurance, and logistics center. This is a good opportunity. Da Nang should carefully study the models of other countries, increase regional connectivity, and strengthen connections with partners. When learning from other countries' experiences, we should study them carefully to implement a sustainable development plan, ” Mr. Thuong emphasized.
At the same time, Da Nang, which is behind, needs to carefully study the development of industries. Currently, it is proposed to develop tourism, digital economy, and information, but the Trade Office proposes to add the health sector; trade should be linked with manufacturing and logistics; there should be preferential mechanisms and good preparation of human resources, regional linkages, and close ties with businesses.
Mr. Le Phu Cuong - Vietnamese Trade Counselor in Malaysia said that Da Nang needs to promote its strengths in attracting investment in high technology, semiconductors, logistics, deep-water ports, tourist ports, etc. Da Nang needs to take advantage of its advantages to develop a green economy and digital economy, focusing on building and improving the quality of human resources, in enterprises and free trade zones.
According to the Department of Industry and Trade of Da Nang city, by the time of completing infrastructure and synchronizing functional areas, Da Nang Free Trade Zone will reach about 2,000 hectares with a roadmap suitable to the needs of attracting production and business activities in functional sub-areas. It is expected that by 2030, the total area of functional areas put into use will be about 300-500 hectares. By 2035, the total area of functional areas put into use will be about 1,000 hectares. It is expected that in December 2024, the People's Committee of Da Nang City will complete the project and dossier to establish Da Nang Free Trade Zone, send it to the Ministry of Planning and Investment for appraisal and submit it to the Prime Minister to issue a Decision on establishment. |
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