Da Nang City established Free Trade Zone

Accordingly, the Resolution consists of 4 chapters and 18 articles, regulating the organization of urban government and piloting a number of specific mechanisms and policies for the development of Da Nang City on financial management, State budget; investment management; planning management, urban, natural resources, environment; priority industries and occupations to attract strategic investors to the city; establishment of Da Nang Free Trade Zone; investment in the development of semiconductor chips, artificial intelligence, information and communication, science and technology management, innovation.

Resolution resolution: The local government in the city is the local government level consisting of the City People's Council and the City People's Committee. The local government in the districts of the city is the District People's Committee. The local government in the wards of the districts of the city is the Ward People's Committee. The organization of local government in other administrative units of the city is implemented according to the provisions of the Law on Organization of Local Government.

The City People's Council performs the tasks and powers prescribed in the Law on Organization of Local Government, other relevant legal provisions and the following tasks and powers: deciding on the State budget revenue estimates in the area; deciding on the long-term, medium-term and annual socio-economic development plans of the City; approving the policy of establishing, dissolving, merging, dividing and adjusting the boundaries of administrative units of districts and wards...

The implementation of investment projects under the public-private partnership (PPP) method is regulated, that is, in addition to the fields prescribed in the Law on Investment under the public-private partnership method, the City is allowed to apply investment under the public-private partnership method for investment projects in the fields of sports, culture and investment in construction and business of market infrastructure. The total investment for investment projects in construction and business of market infrastructure is not less than 100 billion VND. The minimum total investment for PPP projects in the fields of sports and culture is regulated by the City People's Council. The City People's Committee promulgates the price of rental services for sales areas at the market to be included in the bidding documents for selecting investors...

The Resolution also resolves on the establishment of Da Nang Free Trade Zone associated with Lien Chieu Seaport, with functional areas specified in the Prime Minister's Decision on establishment, including production areas, logistics centers, trade - service areas and other types of functional areas according to the provisions of law.

The functional areas of the Da Nang Free Trade Zone are separated from the outside area by hard fences, ensuring customs inspection, supervision and control activities of customs authorities and State management activities in the corresponding fields of relevant agencies according to the provisions of law.

Regarding authority, the Resolution stipulates that the Prime Minister decides to establish, adjust and expand the boundaries of the Da Nang Free Trade Zone.

The City People's Committee organizes the establishment, appraisal and approval of local adjustments to the City's master plan within the boundaries of the Da Nang Free Trade Zone to ensure consistency after receiving written consent from the Ministry of Construction; the City People's Committee approves the investment policy for the project to invest in construction and business of infrastructure of functional areas in the Da Nang Free Trade Zone.

Chairman of the National Assembly's Finance and Budget Committee Le Quang Manh presented a report on receiving and explaining the draft Resolution.

Previously, presenting a report on the reception and explanation of the draft Resolution of the National Assembly on the organization of urban government and piloting a number of specific mechanisms and policies for the development of Da Nang City, Chairman of the National Assembly's Finance and Budget Committee Le Quang Manh stated that, in response to the opinions of National Assembly deputies, the National Assembly Standing Committee directed the reviewing agency to coordinate with the Drafting Committee to carefully review the policies in the draft Resolution, avoiding creating legal conflicts and difficulties in implementation.

Regarding the pilot establishment of a Free Trade Zone (Article 13), the National Assembly Standing Committee stated that the pilot establishment of a Free Trade Zone is a major policy with sufficient political and legal basis; if successfully implemented, it will create a premise to promote the socio-economic development of Da Nang City and the whole region.

However, this is a new policy that has not been implemented in Vietnam. The Resolution is a pilot project, so we need to be cautious and take firm steps, and not regulate issues that have not been thoroughly evaluated and are highly risky.

Furthermore, policies need to be studied and developed based on the implementation capacity, financial resources, and meeting conditions of Da Nang City. Therefore, at present, the National Assembly Standing Committee proposes to keep the policy scope as in the draft Resolution.

Source: https://kinhtedothi.vn/thanh-pho-da-nang-duoc-thanh-lap-khu-thuong-mai-tu-do.html