Da Nang on the journey to become an international city

With its geographical advantages and strategic development vision, Da Nang is increasingly asserting its position on the international integration map. In the period of 2025 - 2030, the city aims to become an international financial center, free trade, logistics and innovation and aims to become a modern, livable "international city".

The City People's Committee granted an investment approval certificate to Aeon Mall Vietnam Co., Ltd. Photo: T.PHUONG

Affirming position on the integration map

After nearly 3 decades of becoming a centrally-governed city, Da Nang has affirmed its position as one of the most dynamically developing urban areas in the country.

The industrial structure is shifting towards modernity, especially the information technology, high technology, microchip, semiconductor and artificial intelligence industries are focused on development. Da Nang owns 2 seaports, 2 airports and an increasingly developed logistics system, facilitating international trade.

Not only having advantages in infrastructure, Da Nang is also highly appreciated for its stable political and social environment and open investment environment.

For many consecutive years, the city has maintained its position in the leading group nationwide in terms of provincial competitiveness index, administrative reform index, information technology application index, smart city construction and digital transformation.

The image of a “livable city” associated with the models of “5 no’s”, “3 yes’s”, “4 safe’s”, Da Nang is increasingly becoming an attractive destination for domestic and foreign experts and investors.

With its important geostrategic position, Da Nang is increasingly asserting its role in international integration through vibrant foreign affairs activities.

Japanese Crown Prince Fumihito Akishino and Princess Kiko visit Da Nang to celebrate the 50th anniversary of the establishment of Vietnam-Japan diplomatic relations. Photo: T.PHUONG

Director of the Department of Foreign Affairs Nguyen Xuan Binh said that in the period of 2020 - 2025, the city welcomed more than 3,000 international delegations, including many delegations of heads of state and high-ranking delegations such as Crown Prince Akishino and Princess Kiko (Japan)... These visits not only contribute to strengthening foreign relations between Da Nang and its partners but also create opportunities to attract foreign investment resources, enhancing the city's position and image in the international arena.

Up to now, Da Nang city has established friendly cooperative relations with 60 localities in 24 countries and territories, with 120 cooperation agreements signed. Many cooperation programs have gone into depth, bringing practical results.

According to Mr. Nguyen Xuan Binh, in the past 5 years, attracting foreign investment in Da Nang continues to be a bright spot with 797 FDI projects, total capital of more than 1.07 billion USD.

In particular, the operation of the Nam Giang - Dac Ta Ooc international border gate pair has opened the shortest trade route, creating a strong driving force for the regional economy and the East-West Economic Corridor.

Along with that, the city effectively used ODA capital and non-governmental aid; received VND14,883 billion in ODA capital and VND1,432 billion from non-governmental aid.

Da Nang tourism has recovered spectacularly with 36 million visitors, including 11.7 million international visitors, clearly demonstrating the city's attractiveness on the global tourism map.

Strongly promote economic diplomacy

Entering the 2025 - 2030 period, Da Nang is determined to become a regional economic and cultural center; strongly promoting economic diplomacy associated with the orientation of building an International Financial Center (IFC), a Free Trade Zone and taking advantage of the post-merger benefits of Quang Nam - Da Nang.

Signing ceremony of the memorandum of understanding on friendship and cooperation between the People's Committee of Da Nang city and Genoa city (Italy) within the framework of the "Forum of Friendship and Cooperation Cities 2025". Photo: T.PHUONG

Mr. Andrew Oldland, Chairman of TheCityUK’s International Financial Centres (IFC) Working Group, said that Vietnam has chosen both Ho Chi Minh City and Da Nang to build the IFC. To compete with regional financial centres such as Hong Kong and Singapore, the two localities need to unify policies on taxes, visas and work permits, etc.

In particular, Da Nang needs to build a transparent legal framework; develop information technology, tourism and real estate infrastructure that meets international standards to attract businesses; a “one-stop” mechanism that is convenient for businesses; select suitable participating industries; and promote the use of English as an official language. Along with that is a strategy to train a young, highly skilled workforce that is ready to adapt to the international financial environment.

According to Mr. Andrew Oldland, Da Nang has great potential to develop strategic fields such as financial technology (FinTech), asset management (WealthTech), insurance technology (InsurTech), trade - finance for small and medium enterprises, as well as digital economy and digital payment systems.

“If it cooperates closely with Ho Chi Minh City, Da Nang can completely form a regional-class international financial center,” said Mr. Andrew Oldland.

According to Tran Thanh Hai, Deputy Director of the Institute for Strategic Studies of Foreign Affairs, after the merger, Da Nang will not only play the role of “central region” but will also be repositioned as a major growth pole, playing the role of international connection for the entire Central and Central Highlands regions. Thus, Da Nang’s position is not only limited to the national level but can rise to become an “international city”.

To realize this vision, Mr. Tran Thanh Hai proposed that Da Nang needs to promote international economic cooperation on three main pillars.

The first is to develop logistics and seaports, prioritizing investment in Lien Chieu and Tien Sa ports to become international cargo transit centers, connecting global supply chains.

The second is to attract foreign direct investment (FDI), focusing on high technology, digital technology, clean industry, and international healthcare and education.

Third is to form an economic-industrial zone to cooperate deeply with Japan, Korea, and the EU. Da Nang increases the mobilization of international financial resources such as the World Bank, ADB, and JICA to develop green infrastructure; build the image of a "green, smart, livable city" as an international brand.

Another important pillar is tourism development and international cultural exchange, focusing on building the brand "Da Nang - international tourism center", connecting the heritage of Hue - Hoi An - My Son.

At the same time, integration in the fields of science - education - technology, aiming to turn Da Nang into a "Central knowledge center", ASEAN technology hub, linking with leading technology centers such as Singapore, Seoul, Bangalore, Tokyo, Silicon Valley.

To continue to grow in the new period, the city leaders expressed their hope that the city will continue to receive support from the Government, central ministries, branches and the international community.

By 2030, the city aims to be clearly positioned on the world map as an international financial center, a free trade zone, a destination for leading technology corporations and the "heart" of the global heritage journey.

Source: https://baodanang.vn/da-nang-tren-hanh-trinh-tro-thanh-do-thi-quoc-te-3304937.html