Lesson 2: Economic development in accordance with the new situation

To achieve the socio -economic development goals in the coming term, the Resolution of the 1st Congress of Da Nang City Party Committee has proposed many practical solutions.

Among them, important solutions are effectively implementing specific mechanisms and policies, removing difficulties and obstacles, and strongly developing the private economy.

Removing difficulties and obstacles to attract investment

According to Alternate Member of the Party Central Committee, Secretary of the Da Nang City Party Committee Luong Nguyen Minh Triet, the 1st City Party Congress opened a new stage of development, creating the future.

The Congress highly agreed on the vision: Building Da Nang into a modern city, rich in identity, with a high quality of life; an important growth pole of the country, a center of creative startups, logistics, finance, high technology, and high-quality tourism of the region and the world.

Mr. Luong Nguyen Minh Triet believes that with a stable socio-political foundation, an attractive and favorable investment environment, increasingly improved infrastructure, increasingly high-quality human resources and the traditions of the Quang people, the city is fully qualified to realize the goal of sustainable development and improve the quality of life of the people.

Da Nang City is removing obstacles and speeding up the process of granting land use right certificates for 78 land lots that are stuck in the Nam Viet A Urban Area (Ngu Hanh Son Ward). (Photo: Quoc Dung/ VNA)

A particularly important resource for socio-economic development is land. However, in recent years, the city has had many projects that are slow to be implemented, stuck in legal procedures, financial obligations or implementation of inspection, examination and judgment conclusions, etc., wasting resources and causing "bottlenecks" in economic development.

According to Director of the Department of Agriculture and Environment of Da Nang City Pham Nam Son, the city is synchronously implementing many measures to remove difficulties and obstacles in projects and land to free up resources, promote investment and socio-economic development.

The City reported and advised the Politburo to issue Conclusion 77-KL/TW, dated May 2, 2024, on the Project "Plan to remove difficulties and obstacles related to projects and land in inspection, examination and judgment conclusions in a number of provinces and cities"; The National Assembly issued Resolution No. 170/2024/QH15, dated November 30, 2024, on "Special mechanisms and policies to remove difficulties and obstacles for projects and land in inspection, examination and judgment conclusions in Ho Chi Minh City, Da Nang City and Khanh Hoa Province"; The Government issued Decree No. 76/2025/ND-CP dated April 1, 2025 detailing Resolution No. 170/2024/QH15 dated November 30, 2024 of the National Assembly on "Special mechanisms and policies to remove difficulties and obstacles for projects and land in inspection, examination and judgment conclusions in Ho Chi Minh City, Da Nang City and Khanh Hoa Province" allowing the implementation of solutions to remove difficulties and obstacles for 10 groups of difficulties and obstacles.

Up to now, the implementation has achieved many results. For 1,313 cases requiring land use term adjustment from "long-term" to "50 years", the city has adjusted 730/1,313 cases.

The locality has reviewed and copied records to determine the previous unit price for land use fees for 26 cases where the unit price has not been determined and proposed adjustments for 112 cases where changes have been registered; checked the progress of land use to determine the time of putting the land into use for 66 cases where land use fees were previously collected at long-term stable unit prices.

In the period of 2025-2030, the city will continue to review and remove some key projects such as Thuan Phuoc New Urban Area, Da Phuoc International Urban Area (181ha project), Nam Hoi An Resort, Lien Chieu Industrial Park, Binh Duong Resort Service Complex, Xuan Thieu Residential Area, Golden Square, Vinpearl Resort Complex, Mai House Hoi An Luxury Golf Course and Resort.

The Director of the Department of Agriculture and Environment of Da Nang City said that the lesson learned is that it is necessary to strengthen the work of archiving and digitizing records to serve management. The fact that legal records have not been properly archived and digitized is an objective but fundamental reason that makes it difficult to review and verify the origin of land and legal conditions of projects.

This is an important lesson in applying digital technology to building and managing transparent, modern and easy-to-use land databases.

Promoting private economy

According to Ms. Tran Thi Thanh Tam, Director of the Department of Finance of Da Nang City, the city identified the key task to maintain growth momentum and expand development space as promoting internal strength and maximizing the role of the private economy.

Da Nang aims to have 65,000 businesses operating in the city's economy by 2030, 20 businesses operating per 1,000 people; and at least 2 large businesses participating in the global value chain.

The average growth rate of the private economy reaches 11.5-12%/year; contributes about 60-62% of GRDP, about 35-40% of total state budget revenue, and creates jobs for about 80-85% of the total workforce.

To realize the above goals, Ms. Tran Thi Thanh Tam said that the city continues to promote investment, attract prestigious and capable private enterprises into priority, spearhead and fundamental industries and fields of the locality such as: tourism, high-quality services, high-tech industry, information technology, science and technology, innovation, automobile industry, processing and manufacturing.

In particular, on the basis of implementing Resolution No. 222/2025/QH15 dated June 27, 2025 of the National Assembly on "International Financial Center in Vietnam", Decision No. 1142/QD-TTg dated June 13, 2025 of the Prime Minister on "establishing the Da Nang City Free Trade Zone", the city has been implementing investment promotion activities, calling for strategic investors, organizations and large corporations in the fields of technology, finance and services.

On September 30, 2025, in the Federal Republic of Germany, the People's Committee of Da Nang City signed a Memorandum of Understanding on cooperation on the Financial Center with Frankfurt Main Finance Company. (Photo: VNA)

The locality has worked with dozens of investors interested in developing the Vietnam International Financial Center in Da Nang city; among them, 3 joint venture investors (Makara Capital, Terne Holding, Trump Organization) expressed their desire to be selected as strategic investors.

In addition, the city has granted 8 strategic investors a memorandum of understanding on investment in the Free Trade Zone. Da Nang has immediately implemented procedures according to regulations on planning, land, and connecting infrastructure to promptly meet the requirements of investors, selecting strategic investors to invest in the infrastructure of the Da Nang Free Trade Zone in line with the orientation associated with Lien Chieu seaport and the International Financial Center.

Enterprises are looking forward to a Da Nang with many open and transparent policies in the future. According to Mr. Mai Cong Ho, General Director of Saigon-Da Nang Investment Joint Stock Company (SDN), the enterprise signed a memorandum of understanding with the city on investing in the Free Trade Zone because the country is rising in the new era.

Da Nang City has a lot of potential for development. In particular, the Free Trade Zone is the breakthrough to turn Da Nang into a growth pole of Vietnam as well as the region.

The core values of a Free Trade Zone are measured by trust, speed and controlled freedom. In Free Trade Zones around the world, customs clearance of a container takes only a few minutes, with thousands of transactions taking place every day, saving a lot of time and costs for society. Therefore, the city needs to carry out procedures related to investment and trade in the Free Trade Zone 10 times faster than now to become a leading destination in Asia.

Enterprises believe that with the "steering" of the government and the momentum of infrastructure and the cooperation of enterprises, the "ship" of the Free Trade Zone can successfully reach the open sea.

By 2030, Da Nang will become a center of high-tech industry and innovation in the region, with the digital economy accounting for more than 35% of GRDP and high-tech industry contributing 10-15% to economic growth.

Mr. Vu Quang Hung, Head of the Management Board of High-Tech Park and Industrial Parks of Da Nang City, said that the city has formed "four pillars" of development, including the High-Tech Park as the core of research, development and production; the Concentrated Digital Technology Park as the digital driving force; the first Free Trade Zone of Vietnam as the logistics gateway; and the industrial parks as the supporting industrial springboard. This ecosystem is making an important contribution, promoting in-depth economic restructuring and attracting high-quality human resources./.