Establish free trade zones in Da Nang, Hai Phong, and Ho Chi Minh City by 2026.

Politburo member and Prime Minister Pham Minh Chinh gives his opinion on the free trade zone project. Photo: Nhat Bac

On December 5th, Politburo member and Prime Minister Pham Minh Chinh chaired a meeting of the Government Standing Committee to discuss the draft plan for the Dung Quat Oil and Gas Processing Zone, which is being prepared for submission to competent authorities, and the proposed mechanisms and policies to promote the development of a national oil refining and energy center in the Dung Quat Economic Zone (Quang Ngai).

According to the report, there are currently more than 7,000 special economic zones and special trade zones operating worldwide; with increasing importance in the modern economic development strategies of developing and emerging countries.

The current model of the Trade and Investment Zone has been expanded to include multi-functional zones encompassing industry, urban development, services, finance, high technology, and innovation, maximizing the attraction of resources for development.

In Vietnam, the general legal system does not yet have specific regulations on the mechanisms, policies, management, and operation of the Trade Promotion Zone.

Recently, the National Assembly has issued resolutions on piloting a number of specific mechanisms and policies for the development of Da Nang City and Hai Phong City, including provisions on the Trade and Tourism Zone.

The Ministry of Finance stated that it is expected that in 2026, commercial and industrial zones will be established in Da Nang, Hai Phong, and Ho Chi Minh City; by 2030, the whole country will have approximately 6-8 commercial and industrial zones and similar models in localities with favorable conditions.

By 2045, the whole country will have 8-10 high-tech zones and similar models that meet international standards, are competitive with other countries in the region, and contribute 15-20% of GDP.

Delegates attending the meeting. Photo: VGP

In his concluding remarks, the Prime Minister stated that this is a new initiative, and while the principle is agreed upon, its implementation must be feasible and effective; the goal is to test the policy and contribute to socio-economic development, meeting both immediate and long-term objectives, especially the two centenary strategic goals.

The head of government noted the need to clarify the concept of the Trade Promotion Zone, its similarities and differences with international trade centers; the mechanisms and policies for these two entities have similarities and differences, and existing regulations need to be applied flexibly and creatively.

The selection of pilot sites for the TMTD (Trade and Service Zone) must be appropriate, balanced across regions, and in line with the pilot program's spirit (limited number of sites and a specific timeframe for evaluation). The Prime Minister requested that relevant agencies consult international experience and base their decisions on Vietnam's conditions to develop specific, suitable, superior, competitive, and feasible mechanisms and policies that do not significantly impact the overall investment environment.

These policies include both general regulations and specific measures tailored to different regions and localities.

To pilot the high-tech zone, the Prime Minister emphasized the need to implement measures to transform the initial policy into a comprehensive plan, including infrastructure development, resource attraction, high-tech development and application, smart management, and human resource training.

Attention must be paid to population issues, ensuring progressive social welfare, a bright, green, clean, beautiful, civilized, and modern environment; organizing a streamlined, effective, and efficient administrative apparatus; strengthening decentralization and delegation of power; increasing the proactive role of the socio-economic development zone; and enhancing supervision and inspection.

Regarding the National Oil and Gas Refining and Energy Center, the Prime Minister requested ministries, sectors, localities, and the Vietnam National Energy Industry Corporation (Petrovietnam) to review and clarify existing contents and potentially apply new contents, specific policies, breakthroughs, and stronger measures to propose to competent authorities.

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