Building on the spirit of "learning while doing"
On June 22, 2025, the City People's Committee held a ceremony to announce Decision No. 1142/QD-TTg dated June 13, 2025 of the Prime Minister on the establishment of the Da Nang Free Trade Zone. The event marked exactly 1 year since the National Assembly passed Resolution No. 136/2024/QH15 dated June 26, 2024 on the organization of urban government and piloting a number of specific mechanisms and policies for the development of Da Nang city, in which the highlight is allowing Da Nang to pilot the free trade zone.
Ms. Le Thi Kim Phuong, Director of the City Department of Industry and Trade, Deputy Head of the Working Group for the establishment of the Da Nang Free Trade Zone, shared that the process from the National Assembly's resolution to the Prime Minister's decision was a journey full of efforts, demonstrating the high consensus and strong political determination of the city. Many tasks have been carried out in the past year, such as: building a dossier to propose the establishment of the Free Trade Zone, in which the location, boundaries and functions of each functional area are specifically determined; adding functions and tasks for the management unit; implementing adjustments to related planning; organizing the implementation of procedures for land acquisition preparation; promoting activities to call for investors, etc.
According to Ms. Phuong, this is a difficult task, however, the city determines that the more difficult it is, the more determined it must be to implement it to maximize the potential and strengths of Da Nang; attract diverse resources from all economic sectors, both domestic and foreign, especially strategic and high-quality investors. Compared to free trade zones in the world, the Da Nang Free Trade Zone is proposed to be piloted with a moderate scale, at 1,881 hectares. Although not too large, it basically creates a regional economic center, especially when connected with Lien Chieu port and Da Nang international airport, serving the East-West economic corridor.
“In the past time, we have been “learning while doing”, referring to many free trade zone models in the world such as Korea, China, Singapore, the United Arab Emirates (UAE), Germany... During that process, the city has selected the most suitable ones, linked to the planning of technical infrastructure, social infrastructure, human resources, international trade connectivity and economic benefits of Da Nang. The selection of the current 7 locations of the free trade zone has been carefully considered by the city, located next to convenient traffic routes and hubs and has favorable conditions for early implementation,” said Ms. Phuong.
Meanwhile, the idea of the city's financial center emerged in the period 2019 - 2020. On January 24, 2019, the Politburo issued Resolution 43-NQ/TW on the construction and development of Da Nang city until 2030, with a vision to 2045. The Resolution sets the general goal of building Da Nang into one of the major socio-economic centers of the country and Southeast Asia. Immediately after Resolution 43-NQ/TW was issued, the Standing Committee of the City Party Committee and the City People's Committee quickly developed an implementation plan. In particular, one of the key tasks identified is to build Da Nang into a regional financial center.
According to the representative of the City Department of Finance, from the idea to the Politburo's issuance of Notice No. 47-TB/TW dated November 15, 2024 on the policy of building a regional and international financial center in Vietnam, it was a process that lasted about 5 years. In which, the project "Building a regional and international financial center in Vietnam" was promoted and completed in 2024. Up to now, Da Nang's persistent journey has had initial results, the city has basically selected a location and is carrying out parallel work between perfecting the institution and preparing the material and human resources foundation for putting into operation the Vietnam International Financial Center in Da Nang.
Mr. Thomas Rooney, Deputy Director of Industrial Consulting Services, Savills Hanoi Co., Ltd., commented that in recent times, Da Nang has made efforts to build a modern financial - technological ecosystem, creating a foundation for attracting financial institutions, digital asset services and strategic investors. “One of the major driving forces attracting business investment is the free trade zone project with special tax incentives, simplified customs procedures and close integration with Lien Chieu port and the High-Tech Park, thereby forming an ecosystem for production - export and logistics. In parallel, the Financial Center is being promoted, expected to be operational by the end of 2025, which is attracting financial corporations. The convergence of transport infrastructure, logistics, digital infrastructure, open investment policies and clear planning orientation is creating momentum for Da Nang to become an attractive destination for the new generation of foreign direct investment (FDI) investors,” said Mr. Thomas Rooney.
Shaping the future with high technology
Da Nang City's determination is clearly demonstrated in building a legal and investment framework, while creating a favorable ecosystem for the business community, scientists and people to access, benefit from and actively participate in the innovation process. At this time, Da Nang is emerging as a potential center for the development of the crypto/blockchain market in Vietnam. On August 26, 2025, the City People's Committee issued a decision approving a controlled, time-limited trial of Basal Pay software of Alphatrue Solutions Joint Stock Company. This is the first time a solution related to crypto assets has been tested under the control of a state agency in Vietnam.
Accordingly, Da Nang is allowed to pilot a controlled testing mechanism (sandbox) for innovative start-up projects in the fields of semiconductors, artificial intelligence, information and communication in the city, in accordance with the provisions of law on controlled testing. Before the City People's Committee issues a decision, there will be a process of research and work between the city and relevant parties for about 3 months.
Mr. Nguyen Viet Toan, Director of the Danang Center for Supporting Innovative Startups (Department of Science and Technology) said that the project has gone through 5 phases and is allowed to be tested for 36 months from the date of issuance, at 2 locations: Danang Center for Supporting Innovative Startups and Concentrated Information Technology Park - Software Park No. 1 and 2. After the end of the test, the solution will be deployed throughout Danang city and expanded nationwide. Testing the model in a controlled environment is a necessary preparation step for Vietnam to gradually integrate with international financial standards in the field of financial technology (fintech) and crypto assets.
Recognizing that Da Nang has a complete set of policies and is very determined in developing science and technology, innovation and digital transformation, Chairman of the Vietnam Blockchain and Digital Assets Association, Chairman of 1Matrix Company Phan Duc Trung said that Da Nang is fully qualified to be a pioneer in crypto assets. The reason is that Da Nang is "paved the way" with important resolutions such as Resolution No. 222/2025/QH15 of the National Assembly on the International Financial Center in Vietnam, Resolution No. 136/2024/QH15 of the National Assembly and from January 1, 2026, the Law on Digital Technology Industry will take effect with many contents in which Da Nang has strengths such as semiconductor industry, artificial intelligence. “Combining the permission for experimental mechanisms, financial center models, free trade zones, and economic resonance with strengths from tourism, services, etc. will help Da Nang achieve the goals set for new financial models,” said Mr. Trung.
Not stopping at the pioneering position in licensing controlled testing for a solution related to crypto assets in line with the Fintech development orientation, Da Nang affirms its determination to become a National Innovation Center and a strategic growth pole in high technology in the field of platform technology (Deeptech) such as semiconductor chips. Evidence is the Laboratory project serving the production of advanced packaging technology for semiconductor chips (Lab-Fab) with a total investment of 1,800 billion VND at Da Nang Software Park No. 2. This is a pioneering project in Vietnam integrating multiple functions: research (lab), experimental production (fab) and human resource training.
“It must be affirmed that the project is a clear result of the city's dynamism and sensitivity in combining public and private strength. The lab-fab model has been proven effective in countries with advanced semiconductor industries such as Singapore, the United States, etc. The project creates a closed loop, helping to transfer scientific and technological research (R&D) results directly to rapid pilot production, laying the foundation for the commercialization of "Make in VietNam - Make in Da Nang" products. The city expects this to be a strategic infrastructure to help Da Nang "take a shortcut" in the global semiconductor supply chain, where advanced packaging technology will play the most important role in the future," said Mr. Nguyen Bao Anh, co-founder and CEO of VSAP LAB Joint Stock Company (investor of the Lab-Fab project).
According to Ms. Le Thi Thuc, Deputy Director of the Department of Science and Technology, the specific mechanisms in Resolution No. 136/2024/QH15 were issued by the City People's Council as specific resolutions for implementation and effective from January 1, 2025, initially expected to resolve and remove difficulties and obstacles in supporting innovative startups and digital transformation. At the same time, it opens up great opportunities for Da Nang in its socio-economic development journey, especially in attracting investment thanks to the application of many unique and outstanding mechanisms and policies that have no precedent in Vietnam. At the same time, the Politburo's issuance of Resolution No. 57-NQ/TW on breakthroughs in science, technology, innovation and national digital transformation has further strengthened the driving force for Da Nang to develop in the new era.
“Laboratory” for new financial models
Speaking at the Vietnam International Financial Center investment promotion conference organized by the Ministry of Finance in coordination with the Vietnamese Embassy in Germany, the Vietnamese Consulate General in Frankfurt and the People's Committee of Da Nang City on September 30 in Frankfurt, Germany, Chairman of the People's Committee of Da Nang City Pham Duc An emphasized:
“Da Nang is the first city in Vietnam to establish a free trade zone, along with a system of concentrated information technology zones, open economic zones, high-tech zones, industrial zones and high-class accommodation facilities, creating a rich ecosystem for Da Nang to undertake the mission of building a real, long-term international financial center.
Da Nang is determined to become a “laboratory” for new financial models, from digital assets, digital currencies, digital payments to blockchain and artificial intelligence application solutions, along with the strong development of fund management activities to support financial technology startups.
Final episode: Transforming specific mechanisms into competitive advantages
Source: https://baodanang.vn/da-nang-but-pha-tu-hien-thuc-hoa-co-che-chinh-sach-dac-thu-ky-2-hanh-dong-manh-me-tao-dot-pha-phat-trien-3308773.html
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