Da Nang is the first locality in the country to implement a Free Trade Zone. This new model promises to create momentum to accelerate the city.
Da Nang is the first locality in the country to implement a Free Trade Zone. This new model promises to create momentum to accelerate the city.
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| Free trade zone will take Da Nang to new heights |
Urgent action
On January 1, 2025, Resolution No. 136/2025/QH15 of the National Assembly (Resolution No. 136) on the organization of urban government and piloting a number of specific mechanisms and policies for the development of Da Nang City officially took effect. This important decision will open up space and mark a new development path for the capital of the Central region.
One of the important highlights of Resolution No. 136 is to allow Da Nang to pilot the establishment of a Free Trade Zone - a model that many countries in the world have succeeded in, but is being applied for the first time in our country. Not only important to Da Nang, this first Free Trade Zone is also of great significance to the development of Vietnam.
According to Vice Chairman of the People's Committee of Da Nang City, Mr. Tran Chi Cuong, after the Resolution of the National Assembly, the Government, the Prime Minister, the central ministries, branches and Da Nang City have resolutely taken action to soon implement the Resolution. In particular, the Prime Minister is directly the Head of the Steering Committee for the implementation of Resolution No. 136.
In phase I (until 2029), the total estimated investment inside the Free Trade Zone is about more than 35,000 billion VND. Phase II (after 2029), the orientation is to expand the Free Trade Zone in Tien Sa port area, urban reconstruction area at the railway station in the city center...
“The city is making efforts to build a Free Trade Zone model as a step to clear the way, pave the way, and create a new path as expected and advocated by General Secretary To Lam about the new era - the era of national growth,” Mr. Cuong shared.
Not missing the opportunity, after a short time, Da Nang has completed the Draft Project to establish a Free Trade Zone. This is the first free trade zone, integrating logistics, seaport, airport functions, associated with trade, service, production and other auxiliary functions. Applying the model of a multi-functional complex free trade zone according to the "zone within zone" connection mechanism; attracting development outside the territory to resonate with attracting activities inside the territory, creating a comprehensive linkage effect, promoting regional and national development.
Da Nang Free Trade Zone has a total natural area of about 2,348 hectares, located in 10 non-adjacent locations connected to Lien Chieu seaport and Da Nang International Airport. In particular, the logistics center is located in the reclaimed area, with an area of about 300 - 350 hectares, serving international transit goods. The formation of a functional area of Da Nang Free Trade Zone in the reclaimed area will create favorable conditions for attracting investment and linking with major shipping and port corporations in the world - a prerequisite for developing Lien Chieu seaport into an international transit port.
To implement the Free Trade Zone, Da Nang City will synchronously deploy 8 groups of solutions including: incentive mechanisms and policies; administration and operation; capital mobilization, promotion and investment promotion; infrastructure development and planning; human resource development, vocational training, career conversion, job creation, livelihood creation to ensure social security for people; science and technology; local and international cooperation; environmental protection and biodiversity conservation.
The most important of these is the group of solutions on mechanisms and preferential policies for the Free Trade Zone. In addition to specifying the mechanisms and preferential policies that have been allowed in Resolution No. 136, Da Nang also proposes outstanding mechanisms and policies that need to be issued by competent authorities soon to ensure strong investment attraction, creating breakthroughs and outstanding efficiency of the Free Trade Zone compared to economic zones and logistics centers in the country and internationally. In the immediate future, there are mechanisms to immediately attract strategic investors to invest in infrastructure of functional areas in the Free Trade Zone, stipulated in the Decision on establishing the Da Nang Free Trade Zone...
Don't miss the opportunity
Da Nang City is determined and willing to take risks to build a Free Trade Zone, because this model will bring the City new growth momentum, realizing the goal of bringing the City to international level. However, for the Free Trade Zone to be successful, it needs to have an open and flexible mechanism.
According to Dr. Tran Du Lich, economic expert and member of the National Monetary Policy Advisory Council, to establish a Free Trade Zone, Da Nang must apply General Secretary To Lam's thoughts on the era of national development. In particular, it is necessary to propose that the Central Government allow self-determination in some contents.
“It is necessary to have a Steering Committee directly implementing the Free Trade Zone; there must be a specialized department implementing the Free Trade Zone, with top priority given to arranging the work schedules of the City leaders to handle issues related to the Free Trade Zone,” Dr. Tran Du Lich suggested.
According to calculations, the Free Trade Zone creates great attraction and competitiveness in investment, expanding trade, services and many other fields. In particular, this special policy applied to Da Nang is also linked to the future development roadmap of Lien Chieu seaport and airport. Together with the Free Trade Zone, this is a prerequisite for Da Nang to become a regional and international freight transit center, contributing to strongly attracting foreign direct investment (FDI) into Da Nang and the Central dynamic region.
The free trade zone is also an opportunity to increase the added value of the tourism and trade industry in the North Central and Central Coast regions in general, and Da Nang in particular, creating a chain of high-end service products, spreading development and leading regional tourism activities to gradually approach international standards...
With such important significance, in the Notice of Conclusion of the First Session of the Steering Committee for the Implementation of Resolution 136, Prime Minister Pham Minh Chinh requested Da Nang City to promptly institutionalize and promulgate all legal documents as a basis for effective implementation of the Resolution; at the same time, research and propose new mechanisms and policies that are truly open, modern, suitable for world trends and the reality, conditions and circumstances of Vietnam as well as Da Nang.
The Prime Minister emphasized the need to focus on research and implementation to soon form 3 new driving forces for the development of Da Nang City in the coming period. Among them, establishing an Innovation Center to motivate and inspire scientists; building a Free Trade Zone in the spirit of not being perfectionist, not being hasty, not missing opportunities, doing and learning from experience; building a Regional Financial Center according to the policy of the Politburo...
At the same time, Da Nang needs to carefully study the current status and land recovery capability for each location to select the most favorable and feasible locations to immediately form a Free Trade Zone in the first phase and potential locations that can be expanded in the future.
In particular, the Prime Minister agreed to continue researching and issuing new mechanisms and policies for the Da Nang Free Trade Zone, in addition to the mechanisms and policies stipulated in Resolution 136, to increase attractiveness to attract investment and ensure competitiveness with the region and the world...
The free trade zone is undertaking a great mission, not only helping Da Nang City develop to new heights, but also paving the way for Vietnam's strategy of building a free trade nation.
Source: https://baodautu.vn/da-nang-vuon-minh-cung-khu-thuong-mai-tu-do-d243595.html
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