At the announcement ceremony of the Decision to establish the Da Nang Free Trade Zone on June 22, Mr. Dang Minh Truong - Chairman of the Board of Directors of Sun Group - said that Da Nang being chosen as the first place in the country to establish a Free Trade Zone is a big milestone, demonstrating the aspiration of Vietnam and Da Nang to reach international standards.
Together with the International Financial Center, the Free Trade Zone will attract foreign investors and international financial institutions, making a breakthrough in the economy of Da Nang City, ensuring double-digit growth in the long term.
According to Mr. Truong, the Free Trade Zone is expected to contribute to Da Nang's economy about 12-13% of GRDP by 2030; 16-17% in the 2030-2040 period and up to 25-26% in 2050.
These goals are feasible when compared to China's Free Trade Zones (Shenhenhen, Shanghai) which contribute about 22% of GDP, account for 45% of FDI attraction and 60% of export turnover.
Notably, the Da Nang Free Trade Zone has functional areas such as production, logistics, trade - services, digital technology industry, innovation and other types of functional areas as prescribed by law.
According to the report of the Management Board of the High-Tech Park and Industrial Zones on the implementation of a number of contents related to the Da Nang Free Trade Zone, in phase 1 (2025 - 2027), it will continue to propose the addition of personnel to serve the management of the Free Trade Zone and newly received industrial parks, combined with training of managers.
Complete the local adjustment of the City Master Plan, supplement the planning of areas and complete the approval of the zoning plan for the construction of functional areas of the Free Trade Zone.
Complete the legal system, issue specific regulations on taxes, customs, administrative procedures, build preferential policies to attract investment in functional areas.
Special focus on completing site clearance work.
Phase 2 (2028 - 2030) will focus on perfecting the application of Blockchain and AI technology in customs management, expanding multi-modal logistics services, developing data centers to support businesses in managing supply chains, perfecting the digital economic ecosystem, expanding scope, boundaries and investing in infrastructure to develop the Free Trade Zone.
At the on-site inspection of some locations of the Free Trade Zone on the afternoon of July 13, Chairman of the People's Committee of Da Nang City Luong Nguyen Minh Triet - emphasized that currently, the initial data of the Free Trade Zone locations is only general.
During the implementation process, departments and localities need to coordinate to specifically inspect and review, especially population data, to be able to implement appropriate plans and solutions.
Chairman of the People's Committee of Da Nang City Luong Nguyen Minh Triet suggested that after the inspection, the units must synthesize recommendations, proposals as well as problems and difficulties to report to the Standing Committee of the City Party Committee for direction and handling as soon as possible.
