Creating momentum for the economy

Delegates performed the groundbreaking ceremony, kicking off construction and business projects of the functional area's infrastructure at location No. 5, in the Da Nang Free Trade Zone, along with many other projects on August 27. Photo: MAI QUE

“Golden key” for the future

Last June, Da Nang received a lot of good news with major decisions from the Central Government: On June 13, the Prime Minister issued Decision No. 1142/QD-TTg on the establishment of Da Nang Free Trade Zone with a total area of 1,881 hectares; immediately after that, 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.

Da Nang Free Trade Zone is a free trade zone connecting to the seaport system (Lien Chieu), High-Tech Park and International Financial Center. The development orientation is a smart free trade zone, not only a place to apply technology but also an integrated ecosystem where data, connectivity and automation promote efficiency and innovation in all aspects.

According to Decision No. 1092/QD-UBND of the City People's Committee on approving the local adjustment of the master plan of Da Nang city to 2030, with a vision to 2045 (content at the locations of the establishment of Da Nang Free Trade Zone), the free trade zone includes 7 non-contiguous locations, with functional orientation and urbanization for each location.

Location 1 (100ha, Hai Van ward) is a logistics and logistics center serving Lien Chieu port, focusing on smart warehouses and distribution. Location 2 (77ha, Hai Van ward) is a logistics, production and supporting industry complex, adjacent to Lien Chieu industrial park.

Location 3 (500ha, Hai Van ward) is a logistics, production and ecological service complex along Cu De river, connecting to Lien Chieu port. Location 4 (559ha, Ba Na commune) is a high-tech support logistics, production and 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, Suoi Lanh, supporting the golf course and Ba Na Hills. Location 6 (154ha, Ba Na commune) is a commercial - service, resort, and supporting industry complex, connecting with Ba Na Hills tourist area, serving neighboring high-tech industrial parks.

Location 7 (401ha, Hoa Vang commune) is a science, technology and innovation complex, focusing on research institutes, technology development centers, startups and has special amenities.

Similarly, the International Financial Center in Da Nang is not concentrated but includes many non-contiguous functional areas, planned in strategic locations: The central area is expected to be located on Vo Van Kiet Street (An Hai Ward), connecting directly from Da Nang International Airport to the sea. This area will concentrate high-rise financial towers. The supporting area is the financial street located in the current Da Nang Industrial Park (An Hai Ward), in the period of 2027 - 2030 will be converted into a financial street with an area of about 62 hectares. The technology park is part of the area in Da Nang Software Park No. 2 that will be used to develop financial technology and innovation.

On September 1, 2025, Resolution No. 222/2025/QH15 officially took effect. The Resolution stipulates a series of specific policies, from tax incentives, foreign exchange policies, to labor and infrastructure support. These policies not only attract global financial institutions but also create conditions for domestic enterprises to develop. To create a foundation for effective implementation of the resolution, the City People's Committee issued Decision No. 1133/QD-UBND dated August 22, 2025 on the establishment of the Advisory Council for the construction of the Vietnam International Financial Center in Da Nang City.

Mr. Do Van Su, Deputy Director in charge of the Foreign Investment Agency (Ministry of Finance) highly appreciated Da Nang's drastic and determined participation; at the same time, he expected that the most "strong and open" policies of Resolution No. 222/2025/QH15 would be pioneered by Da Nang. Mr. Su also noted that to build a project to develop a financial center, a team with high capacity and responsibility is needed.

Speed up the progress of the work

On August 27, 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 City People's Committee on approving the investment policy and investors for the project to invest in construction and business of infrastructure of the functional area at location No. 5, in the Da Nang Free Trade Zone.

Accordingly, the investor is Ba Na Cable Car Service Joint Stock Company (Sun Group Corporation). The project scale is about 90 hectares, with a total estimated investment capital of more than 808 billion VND. The project's operating period is 70 years, from the date of issuance of the decision approving the investment policy and approving the investor.

Mr. Vu Quang Hung, Head of the Management Board of the Da Nang High-Tech Park and Industrial Parks, said that in addition to position No. 5, the management board is presiding over and supporting strategic investors in implementing functional zoning plans in the free trade zone after the decision to partially adjust the city's master plan was made.

The Management Board has worked with four large domestic technology enterprises to discuss the orientation of building and operating a smart free trade zone, and introduced this model at the investment promotion conference "Creating development space with Da Nang Free Trade Zone" on August 18. The Management Board continues to coordinate with units to complete criteria suitable to the specific conditions of the city.

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, branches, sectors and localities to advise the City People's Committee to review the need to propose adjustments to the master plan of Da Nang city for the period 2021 - 2030, with a vision to 2050, in conjunction with the orientations, goals, visions and directions for the development of the Vietnam International Financial Center in Da Nang to serve as a basis for planning adjustments after the Law on Planning (amended) is issued.

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

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

Regarding policy, the city proactively coordinates with relevant ministries, departments and branches to complete and advise the Government to consider issuing decrees guiding the implementation of Resolution No. 222/2025/QH15; coordinates with the Ministry of Finance to complete the draft decree on the establishment of the International Financial Center and other regulations. Regarding human resources, the city continues to organize training courses and professional development in the field of finance and the international financial center.

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