At the forum on Da Nang Free Trade Zone - New driving force for the development of Da Nang's logistics industry this morning (November 14), Mr. Bui Quang Binh, representative of the consulting group for the project "Establishment of a free trade zone" - Da Nang Department of Industry and Trade, said that Da Nang Free Trade Zone will develop a multi-functional complex according to the model of "zone within a zone". This model has inheritance and calculation according to actual conditions.
There are four priority sectors for development in the Da Nang Free Trade Zone: logistics, manufacturing, services and trade, and innovation.
In which, logistics is associated with multimodal transport, ancillary services and warehousing, modern digital logistics services. Manufacturing includes advanced electronics, aircraft manufacturing, aviation ancillary and MRO, pharmaceuticals and biotechnology, semiconductor assembly, testing and packaging (ATP).
Services and commerce include integrated tourism centers with unique services (duty-free retail, medical tourism, casinos, dining, hotels, MICE), Vietnam's digital economic cluster (IT, software). Innovation includes research and development, innovation for priority industries and fields (AI, semiconductors), support services (payments, startups, legal consulting), vocational education and training.
“Basically, the policy mechanisms applied to the Da Nang Free Trade Zone are the same as those applied to economic zones and duty-free zones, especially the exemption of import and export taxes on goods and services traded with foreign countries,” said Mr. Binh.
According to Mr. Tran Chi Cuong, Vice Chairman of the People's Committee of Da Nang City, Resolution 136 of the National Assembly on organizing urban government and piloting a number of specific mechanisms and policies for the development of Da Nang City, including the establishment of the Da Nang Free Trade Zone, aims to maximize the development advantages of the city.
This special policy applied to Da Nang City is also linked to the future development roadmap of Lien Chieu seaport and Da Nang international airport.
This is a favorable condition for Da Nang to become a regional and international freight transit center, contributing to strongly attracting domestic investment capital and FDI into the city and the dynamic region of the Central region.
The project is being completed by the city and will be submitted to the Prime Minister by the end of 2024.
4 factors to develop Da Nang Free Trade Zone
Dr. Tran Thi Hong Minh - Director of the Central Institute for Economic Management (Ministry of Planning and Investment) proposed 4 proposals to realize the vision of developing the Da Nang Free Trade Zone.
Firstly, investment 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 competitiveness. For Da Nang, Tien Sa and Lien Chieu ports need to be upgraded synchronously to expand cargo handling capacity…
Second , it is necessary to build a legal framework and flexible incentive policies to attract investment in free trade zones. Tax incentives and open customs mechanisms will help businesses reduce administrative procedures and facilitate international trade.
The city government needs to closely coordinate with central agencies in developing infrastructure, simplifying administrative procedures and providing tax incentives, such as VAT exemption for goods in storage and land use incentives...
Third , sustainable development and the application of high environmental standards in the Da Nang free trade zone are important requirements. Da Nang should encourage the use of renewable energy, reduce carbon emissions…
Fourth , digitizing warehouse management, shipping tracking, and customs clearance processes will help reduce costs, increase operational efficiency, and help businesses 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.
“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 Ms. Minh.
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