Da Nang announced the Prime Minister's Decision on establishing a Free Trade Zone

Da Nang City Free Trade Zone has functional areas: production, logistics; trade-services; digital technology industry, innovation and other types of functional areas.

Presenting the Prime Minister's Decision on the establishment of Da Nang Free Trade Zone. (Photo: Van Dung/VNA)

On June 22, in Da Nang, the People's Committee of Da Nang City held a Ceremony to Announce the Prime Minister 's Decision on the establishment of the Da Nang City Free Trade Zone.

The event was attended by Permanent Deputy Prime Minister Nguyen Hoa Binh and 500 invited delegates from central and local leaders; a number of organizations, investors, businesses, domestic and foreign business associations, banks, and universities.

Speaking at the ceremony, Permanent Deputy Prime Minister Nguyen Hoa Binh highly appreciated the efforts of Da Nang city in realizing the policy of the Party, National Assembly and Government to establish a Free Trade Zone. This place will connect the global economy, creating a boost to promote the current Da Nang economy, the future Da Nang after the merger with Quang Nam and the whole Vietnamese economy.

According to Permanent Deputy Prime Minister Nguyen Hoa Binh, in addition to the Free Trade Zone, the National Assembly and the Government also allow Da Nang to implement many new economic initiatives such as: Financial center, deep-water port, river of light... All of these projects will help Da Nang develop more strongly in the future.

The Permanent Deputy Prime Minister believes that with a united, determined, dynamic and creative team, Da Nang and its attractive approach to attracting investors to Da Nang, all future projects will become reality.

Permanent Deputy Prime Minister Nguyen Hoa Binh speaks. (Photo: Van Dung/VNA)

Mr. Le Trung Chinh, Chairman of the People's Committee of Da Nang City, said that the establishment of the Da Nang Free Trade Zone is considered a breakthrough step, a new institutional model, with the expectation of creating an international development space, capable of leading green growth, innovation and attracting strategic investment.

According to Mr. Le Trung Chinh, the city is also proactively reviewing and developing plans, with a series of tasks that need to be focused on implementing in the coming time to put the Da Nang Free Trade Zone into operation soon.

Along with that, the city continues to propose to supplement new, more open and superior mechanisms and policies applicable to the Da Nang Free Trade Zone under the authority of the National Assembly, Government, and Prime Minister to submit to competent authorities for consideration and decision.

At the same time, the study proposes to expand potential new locations, develop and exploit sea space reasonably to expand the boundary of Da Nang City Free Trade Zone after merging with Quang Nam province.

On June 13, 2025, the Prime Minister issued Decision No. 1142/QD-TTg on the establishment of Da Nang City Free Trade Zone.

Da Nang City Free Trade Zone will have 7 locations and select strategic investors, attract secondary investors according to a specific roadmap and implementation plan.

Da Nang City Free Trade Zone has functional areas: production, logistics; trade-services; digital technology industry, innovation and other types of functional areas according to the provisions of law.

The Da Nang Free Trade Zone is developed in conjunction with the International Financial Center to turn Da Nang into a high-quality service center, creating a driving force to spread to the Central Highlands and the whole country; becoming an important link connecting the East-West Economic Corridor, the Asia-Pacific region and the world.

At the ceremony, the People's Committee of Da Nang City awarded a Memorandum of Understanding on investment in the Da Nang Free Trade Zone to a number of strategic investors; including Sun Group Corporation with the project "Investment in construction and business of infrastructure of functional areas at locations 5, 6 and 7" with a scale of about 645 hectares.

In addition, the People's Committee of Da Nang City also presented a Memorandum of Understanding on investment in the Da Nang Free Trade Zone to investors: Terne Holdings Group and One Destination on cooperation in developing the Da Nang Free Trade Zone; BRG Group-CTCP, Thanh Binh Phu My Joint Stock Company, Lien Thai Binh Duong Import-Export Company Limited, Phuong Trang Investment Joint Stock Company, Newtechco Group Joint Stock Company, representatives of the joint venture of NewTechco Group Joint Stock Company and Phytopharco Vietnam Limited Company, Saigon Da Nang Investment Joint Stock Company.

According to Vo Van Dung (Vietnam News Agency/Vietnam+)

Source: https://baogialai.com.vn/da-nang-cong-bo-quyet-dinh-thu-tuong-chinh-phu-ve-thanh-lap-khu-thuong-mai-tu-do-post329248.html