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| Da Nang is making efforts to promote the realization of the plan to build a free trade zone. Photo: Duc Thanh |
"Arranging bricks" to open a free trade zone
Khanh Hoa is perhaps one of the latest localities to share plans to build a free trade zone in the area. At the recent 2025 Business and Investor Meeting, Chairman of Khanh Hoa Provincial People's Committee, Mr. Tran Quoc Nam, said that the province is studying the Khanh Hoa Free Trade Zone model, with the expectation of forming a gateway for marine economic development associated with high-end international services. The expected location chosen is Van Phong Economic Zone - one of the locations planned to become the growth pole of the province.
Ha Tinh also has ambitions to develop a free trade zone in Vung Ang. In mid-July 2025, the Ha Tinh Provincial People's Committee held a meeting to discuss the plan to build the Vung Ang Free Trade Zone, with the expectation of turning this area into an international logistics center, serving the entire Indochina market. The Ha Tinh Department of Finance was assigned to coordinate with relevant parties to develop the project, and submit it to the Provincial Party Committee Standing Committee before August 10.
Not only Khanh Hoa or Ha Tinh, many other localities in the country are also "laying bricks" in the hope of being allowed to open free trade zones. Dong Nai is an example. This province wants to develop a free trade zone associated with Long Thanh airport infrastructure and surrounding connecting infrastructure.
The initial outlines of the free trade zone are available, with four planned functional zones including a production zone, a logistics zone, a finance-trade-service zone, and a research and innovation zone, information technology, and digital economy. Dong Nai estimates that the cost of building the free trade zone will be around 16 billion USD.
Similarly, Ba Ria - Vung Tau (now part of Ho Chi Minh City) is also making efforts to develop a Free Trade Zone associated with a seaport in the Cai Mep Ha area. This Free Trade Zone is expected to cover over 3,749 hectares, with digital economy, green economy, and circular economy as the focus and driving force for development.
Many localities have “laid bricks”, but in reality, only two free trade zones, Da Nang and Hai Phong, have been allowed by the National Assembly to pilot the establishment, with many breakthrough and outstanding mechanisms and policies. In particular, the Da Nang Free Trade Zone was decided by the Government to be established in mid-June 2025, with a scale of more than 1,880 hectares, with the goal of becoming a regional economic center, playing the role of a strategic growth pole of the Central region and the whole country in the new development context.
In the long term, Da Nang Free Trade Zone will be developed into an important link in the global supply chain network and the Asia-Pacific region; a production center, an international goods transit hub connected to Lien Chieu Port, Da Nang International Airport and the East-West Economic Corridor...
A boost for growth
The government has set a very clear target for the economy in the coming period, which is to achieve a double-digit growth rate, starting from 2026. This year, we are striving to achieve a growth rate of 8.3-8.5%. In addition to the traditional growth drivers of investment, consumption, and export, new growth drivers are always emphasized. In particular, new models such as international financial centers and free trade zones will be focused on promoting.
When submitting to the National Assembly a special mechanism for Hai Phong City, including the establishment of the Hai Phong Free Trade Zone, Minister of Finance Nguyen Van Thang affirmed that the special mechanism will create a foundation for Hai Phong to become a new growth pole, spreading strongly in the Red River Delta and contributing to the double-digit growth target in the 2026-2030 period.
Regarding the Hai Phong Free Trade Zone, Minister Nguyen Van Thang said that this model will help attract investment capital and become a transit center thanks to special mechanisms on foreign currency, land lease, etc. "With the free trade zone model, Vietnam can become a transit, packaging, and global supply chain connection center, thereby increasing foreign currency and transit revenue," said Minister Nguyen Van Thang.
According to the Minister, preferential and superior policies for free trade zones will be implemented carefully, with close inspection and supervision; after the pilot period, if effective, it is possible to propose expanding the scope and legalizing it.
On the day Da Nang officially announced the establishment of the Free Trade Zone according to the Prime Minister's decision, Deputy Prime Minister Nguyen Hoa Binh emphasized that if this free trade zone is successfully built, it will be a "boost" to connect the global economy, promoting development not only for Da Nang today, but also for Da Nang in the future, the whole region and the country.
Da Nang is making efforts to promote the realization of the plan to build a free trade zone, with one of the most important tasks being attracting investment, especially strategic investors. The positive point is that the first names have been revealed. Sun Group, Terne Holdings and One Destination, BRG, Lien Thai Binh Duong Import Export Company Limited... have signed a memorandum of understanding on investing in the Da Nang Free Trade Zone. In addition, Amata Vietnam, Green Ipark... have also been allowed to research investment in the country's first free trade zone.
Hai Phong, Da Nang and further away Ho Chi Minh City or Khanh Hoa are all growth poles of the country's economy. When free trade zones - new driving forces, new growth poles of these localities and neighboring areas are built, it will contribute to bringing the country's economic growth to a double-digit rate in the coming period.
Experience has been studied, outstanding and initial breakthrough institutions and policies have been allowed to be piloted in the two free trade zones of Da Nang and Hai Phong, so now is the time to promote, call for investment, and foster the formation and development of these free trade zones.
Source: https://baodautu.vn/khu-thuong-mai-tu-do-cu-hich-cho-tang-truong-d343842.html
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