On the morning of November 14, at the Forum “Da Nang Free Trade Zone – New driving force for the development of Da Nang logistics industry” organized by the Department of Industry and Trade of Da Nang City, Dr. Tran Thi Hong Minh – Director of the Central Institute for Economic Management (Ministry of Planning and Investment) – presented important policy proposals to promote comprehensive development for this area.
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| Forum “Free Trade Zone – New driving force for logistics development in Da Nang City” |
According to Dr. Tran Thi Hong Minh, the formation of a free trade zone will help attract foreign investment, boost exports, create jobs and contribute positively to sustainable economic growth. The free trade zone also promotes green development initiatives, from the use of renewable energy to optimizing the supply chain to minimize environmental impact.
Dr. Tran Thi Hong Minh said that up to now, free trade zones have become the driving force of global trade, with more than 3,500 areas in 135 countries. From the experience of building successful free trade zone models in Germany, the Netherlands, Singapore, China and the UAE, Da Nang can refer to and apply many creative solutions to build effective and sustainable free trade zones.
To realize the vision of developing the Da Nang free trade zone into a sustainable and effective growth engine, the Director of the Central Institute for Economic Management proposed four important policy proposals to promote comprehensive development for this area.
Firstly, investing in modern logistics infrastructure is a key factor . Including seaports and airports, connecting transport systems, warehouses and advanced distribution centers. Synchronous and modern infrastructure will help reduce storage costs, shorten transportation times and improve the competitiveness of the free trade zone. “ Experience from Singapore, with a modern seaport and airport system, managed by digital technology, has turned this country into a leading logistics center in the region ” – Dr. Tran Thi Hong Minh cited and said that, for Da Nang, Tien Sa and Lien Chieu ports need to be upgraded synchronously to expand the capacity to receive goods. At the same time, developing domestic logistics centers will contribute to connecting the free trade zone with neighboring areas and expanding the international market.
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| Dr. Tran Thi Hong Minh – Director of the Central Institute for Economic Management |
Second, it is necessary to build a legal framework and flexible incentive policies to attract investment in the free trade zone . " Tax incentives and a flexible customs mechanism will help businesses reduce administrative procedures and facilitate international trade " - Dr. Tran Thi Hong Minh commented and recommended that Da Nang City can refer to the model of China's Shanghai Free Trade Zone to build preferential policies on exemption of import tax on raw materials and export tax incentives, combined with a transparent legal mechanism to protect investors' rights, creating a stable and safe business environment. The city government needs to closely coordinate with central agencies in developing infrastructure, simplifying administrative procedures and tax incentives, such as VAT exemption for goods in storage and land use incentives, to attract strong investment in the free trade zone.
Third, the Da Nang Free Trade Zone must identify sustainable development and apply high environmental standards . “ Free trade zones should not only aim at economic growth but also ensure sustainability and environmental friendliness. Da Nang should encourage the use of renewable energy, reduce carbon emissions and promote green production in the area, ” Dr. Tran Thi Hong Minh recommended, adding that free trade zones in Germany and Costa Rica are successful examples of combining green production with strict regulations on environmental protection, recycling and energy saving. According to Dr. Tran Thi Hong Minh, applying this model will help Da Nang not only protect the environment but also enhance the city’s image as a friendly investment destination, meeting the global trend of sustainable development.
Finally, promoting digital transformation in the development of free trade zones in Da Nang. Digitizing warehouse management processes, shipping tracking and customs clearance will help reduce costs, increase operational efficiency and support businesses to easily access international markets. Applying blockchain technology in data management and traceability of goods, along with AI for supply chain analysis, will create a significant competitive advantage.
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| Delegates attending the Forum |
“The Da Nang Free Trade Zone will become a strong driving force for Vietnam’s logistics industry. This is not only an important step forward for Da Nang, but also contributes to the development of the national economy, enhancing Vietnam’s position on the international trade and logistics map,” said Dr. Tran Thi Hong Minh, Director of the Central Institute for Economic Management.
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