The Management Board of Da Nang High-Tech Park and Industrial Zones said that on August 27, the People's Committee of Da Nang City will organize the Launching Ceremony of the Free Trade Zone Project - Location No. 5. The project to build and operate the infrastructure of this functional area is invested by Ba Na Cable Car Service Joint Stock Company (Sun Group).
Previously, on August 22, the People's Committee of Da Nang City issued Decision 1092/QD-UBND, approving local adjustments to the Master Plan. Accordingly, all 90 hectares of tourist land at Location No. 5, Ba Na commune, were adjusted to the Free Trade Zone land.
On August 26, the City People's Committee continued to issue Decision 1175/QD-UBND, officially approving the investment policy and selecting Sun Group as the investor. The project has a total investment of more than 808 billion VND and an operating period of 70 years.
Functional area No. 5 is oriented to become an international integrated tourism center. The main items include a tax-free shopping complex, a high-class hotel - resort, a conference - exhibition center, and modern cultural - entertainment spaces.
The project is expected to create a new economic growth pole for Da Nang. At the same time, it will enhance the city's tourism competitiveness, creating thousands of quality jobs. The launching ceremony is considered a strong commitment, marking an important step forward in the journey to build Da Nang into a leading economic - tourism center in the region.
