Boosting the economy

The Da Nang Free Trade Zone and the Da Nang International Financial Center are pioneering models in Vietnam, combining the functions of logistics, seaports, and airports with financial and technological activities. These projects are expected to create a breakthrough, demonstrating Da Nang's determination to diversify its economy and enhance its competitiveness on the international stage.

Delegates performed the groundbreaking ceremony to launch construction and business projects for infrastructure in the functional zone at location No. 5, within the Da Nang Free Trade Zone, along with many other projects on August 27th. Photo: MAI QUẾ

"The golden key" to the future

This past June, Da Nang received much good news with major decisions from the central government: On June 13th, the Prime Minister issued Decision No. 1142/QD-TTg on the establishment of the Da Nang Free Trade Zone with a total area of ​​1,881 hectares; shortly thereafter, the National Assembly passed Resolution No. 222/2025/QH15 dated June 27, 2025, on the International Financial Center in Vietnam, approving the establishment and operation of international financial centers in Ho Chi Minh City and Da Nang City.

The Da Nang Free Trade Zone is a free trade area connected to the seaport system (Lien Chieu), the High-Tech Park, and the International Financial Center. Its development orientation is to create a smart free trade zone, not just a place for technology application, but an integrated ecosystem where data, connectivity, and automation drive efficiency and innovation in all aspects.

According to Decision No. 1092/QD-UBND of the People's Committee of Da Nang City on approving the partial adjustment of the general planning of Da Nang City until 2030, with a vision to 2045 (content regarding the locations for establishing the Da Nang Free Trade Zone), the free trade zone comprises 7 non-contiguous locations, with functional orientations and urbanization plans for each location.

Location 1 (100 hectares, in Hai Van ward) is a logistics and supply chain center serving Lien Chieu port, focusing on smart warehouses and distribution. Location 2 (77 hectares, in Hai Van ward) is a complex of logistics, manufacturing, and supporting industries, adjacent to Lien Chieu Industrial Park.

Location 3 (500ha, Hai Van Ward) is a riverside ecological logistics, manufacturing, and commercial service complex along the Cu De River, connected to Lien Chieu Port. Location 4 (559ha, Ba Na Commune) is a high-tech supporting manufacturing and logistics complex, adjacent to the High-Tech Park and the Concentrated Information Technology Park.

Location 5 (90ha, Ba Na commune) is a high-quality commercial, service, resort, and medical complex, near Suoi Mo and Suoi Lanh streams, supporting the golf course and Ba Na Hills. Location 6 (154ha, Ba Na commune) is a commercial, service, resort, and supporting industrial complex, connecting with the Ba Na Hills tourist area and serving nearby high-tech industrial parks.

Location 7 (401ha, Hoa Vang commune) is a science, technology and innovation complex, concentrating research institutes, technology development centers, startups and possessing specialized facilities.

Similarly, the International Financial Center in Da Nang is not a single, centralized area but comprises several non-contiguous functional zones, strategically planned for strategic locations: The central area is planned to be located along Vo Van Kiet Street (An Hai Ward), directly connecting Da Nang International Airport to the sea. This area will concentrate high-rise financial towers. The supporting area is the financial district located in the current Da Nang Industrial Park (An Hai Ward), which will be transformed into a financial district with an area of ​​approximately 62 hectares between 2027 and 2030. The technology zone, part of the Da Nang Software Park No. 2, will be used for the development of financial technology and innovation.

On September 1, 2025, Resolution No. 222/2025/QH15 officially came into effect. The resolution stipulates a series of specific policies, ranging from tax incentives and foreign exchange policies to support for labor and infrastructure. These policies are not only intended to attract global financial institutions but also to create favorable conditions for the development of domestic businesses. To lay the groundwork for the effective implementation of the resolution, the People's Committee of Da Nang City issued Decision No. 1133/QD-UBND dated August 22, 2025, establishing the Advisory Council for the construction of the Vietnam International Finance Center in Da Nang City.

Mr. Do Van Su, Deputy Director in charge of the Foreign Investment Department (Ministry of Finance), highly appreciated Da Nang's decisive involvement and strong determination; and expressed his hope that Da Nang would be the pioneer in implementing the strongest and most open policies of Resolution No. 222/2025/QH15. Mr. Su also noted that developing a financial center development plan requires a team with high capacity and a strong sense of responsibility.

Expedite the progress of the tasks.

On August 27th, the first location of the Da Nang Free Trade Zone was "activated" according to Decision No. 1175/QD-UBND dated August 26, 2025, of the People's Committee of Da Nang City, approving the investment policy and investor for the project to build and operate infrastructure in the functional area at location No. 5, within the Da Nang Free Trade Zone.

Accordingly, the investor is Ba Na Cable Car Service Joint Stock Company (Sun Group). The project covers an area of ​​approximately 90 hectares, with a total estimated investment of over 808 billion VND. The project's operating period is 70 years, starting from the date of issuance of the investment policy approval decision and investor approval.

Mr. Vu Quang Hung, Head of the Management Board of Da Nang High-Tech Park and Industrial Zones, said that in addition to position number 5, the management board is leading and supporting strategic investors in developing functional zoning plans within the free trade zone after the decision to partially adjust the city's general planning.

The management board has worked with four major domestic technology companies to discuss the direction of building and operating a smart free trade zone, and introduced this model at the investment promotion conference "Creating a Development Space with the Da Nang Free Trade Zone" on August 18th. The management board continues to coordinate with relevant units to finalize criteria suitable to the city's specific conditions.

Regarding the international financial center, Director of the Department of Finance Tran Thi Thanh Tam said that the department continues to coordinate with relevant departments, agencies, and localities to advise the City People's Committee on reviewing the need to propose adjustments to the overall planning of Da Nang city for the period 2021-2030, with a vision to 2050, in conjunction with the orientations, objectives, vision, and development directions of the Vietnam International Financial Center in Da Nang, to serve as a basis for preparing the adjusted plan after the amended Planning Law is promulgated.

Currently, the city continues to work with partners and investors in the fields of finance, technology, blockchain, etc., to promote investment, while also consulting on mechanisms, policies, and solutions for developing a financial center.

Regarding infrastructure for the financial center, the city is focusing on investing in and constructing a 20-story building in Da Nang Software Park No. 2 with a construction floor area of ​​over 27,000 ^m² .

Regarding policy, the city proactively coordinates with relevant ministries and agencies to finalize and advise the Government on the issuance of decrees guiding the implementation of Resolution No. 222/2025/QH15; and coordinates with the Ministry of Finance to finalize the draft decree establishing the International Financial Center and other regulations. Regarding personnel, the city continues to organize training and professional development courses in the field of finance and the International Financial Center.

Source: https://baodanang.vn/tao-suc-bat-cho-nen-kinh-te-3302988.html