Launching the first project in Da Nang Free Trade Zone

(Chinhphu.vn) - On the afternoon of August 27, at Ba Na commune, Da Nang city, in coordination with Sun Group, held the launching ceremony of the project to invest in construction and business of infrastructure of functional area No. 5, in the Da Nang city Free Trade Zone.

Launching ceremony of the project to invest in construction and business of infrastructure of functional area No. 5 in Da Nang City Free Trade Zone - Photo: VGP/Nhat Anh

The meaningful event is part of the activities to celebrate the 80th anniversary of National Day and the 23rd Congress of the Da Nang City Party Committee.

Attending the event were Mr. Nguyen Thanh Nghi, Head of the Central Policy and Strategy Committee, and leaders of Da Nang city.

Speaking at the event, Mr. Luong Nguyen Minh Triet, Chairman of the People's Committee of Da Nang City affirmed: "The launch of the Investment, Construction and Business Infrastructure Project of Functional Area No. 5 has the meaning of "activating" the Da Nang Free Trade Zone established under Decision No. 1142/QD-TTg of the Prime Minister. This is a project of special importance, with strategic significance for the socio-economic development of the city. The project is expected to strengthen the role of Da Nang as an important trading gateway of the Central region and the whole country, and gradually become an important link in the global supply chain network and the Asia- Pacific region".

Da Nang Free Trade Zone (FTZ) has a scale of about 1,881 hectares, divided into 7 areas in Hai Van ward, Ba Na commune and Hoa Vang commune, with the following functions: production, logistics, trade - services, digital technology , information technology and innovation.

On June 22, at the Ceremony to announce the Prime Minister's decision on the establishment of the Da Nang Free Trade Zone, Sun Group was awarded a memorandum of understanding on investment in subdivisions 5, 6 and 7 with a scale of about 645 hectares. Then, on August 26, the People's Committee of Da Nang City issued Decision 1175/QD-UBND, approving the investment policy and approving Sun Group as the investor for the commercial service functional area project at position 5 of the FTZ, located in Ba Na commune.

With a location directly connected to Ba Na Hills tourist area, the project cluster at position 5 of Da Nang Free Trade Zone will maximize its superior advantage of being located next to the most vibrant tourist "hub" in Da Nang, contributing to creating a resonance effect to help connect tourism, services, high-class accommodation and increase spending, increase the length of stay of tourists.

The project cluster at location No. 5 of the Da Nang Free Trade Zone is being implemented at the foot of Ba Na Mountain - Photo: VGP/Nhat Anh

"Joining hands with the city to launch the Da Nang Free Trade Zone demonstrates the Group's determination to accompany the development of Da Nang. We commit that the project will be implemented vigorously to soon reach the finish line, connecting with the remaining components of the Free Trade Zone, contributing to attracting investment and creating new growth momentum for the city," Mr. Nguyen Van Binh, Chairman of Sun Group Central Region, emphasized at the event.

The establishment of the Da Nang Free Trade Zone is an important "push" to realize the aspiration of expanding new development space for Da Nang. In particular, with the combination of two super-plans, the Free Trade Zone and the International Financial Center, in the future Da Nang will become a modern, smart and highly competitive economic ecosystem, a major economic center of the country.

Nhat Anh

Source: https://baochinhphu.vn/khoi-dong-du-an-dau-tien-thuoc-khu-thuong-mai-tu-do-tp-da-nang-102250827185748034.htm