On August 6, at a press conference held by the People’s Committee of Da Nang City, journalists raised several questions for the city’s leaders regarding the Free Trade Area, which the National Assembly has recently approved for a pilot implementation in the city.
Ms. Le Thi Kim Phuong, Director of the Da Nang Department of Industry and Trade, explained that the Free Trade Area is a complex of functional areas, including a commercial-service area, a logistics area, a production area, and other functional zones. Da Nang plans to allocate 1,000-1,500 hectares of land for this project, with varying sizes depending on requirements, scattered across multiple locations.
According to Ms. Phuong, several investors have expressed interest and contacted the city to inquire about the policies related to the Da Nang Free Trade Area. However, no official investment registration documents have been received so far.
Ms. Le Thi Kim Phuong, Director of the Da Nang Department of Industry and Trade, answers questions at the press conference.
Mr. Tran Chi Cuong, Vice Chairman of the Da Nang People’s Committee, stated that while there are many free trade areas around the world and in the region, Vietnam does not yet have one. When Da Nang proposed the idea, several other localities also expressed their desire to establish free trade areas. However, the Central Government assigned Da Nang to pilot this project, demonstrating their trust in the city.
According to Mr. Cuong, now that the National Assembly has approved the project, the important task at hand is to select the locations for the functional subdivisions within the Free Trade Area. This must be done while ensuring that the area is enclosed yet still promotes the development of the city and radiates to other provinces and cities in the region.
Mr. Tran Chi Cuong, Vice Chairman of the Da Nang People’s Committee, speaks about the Free Trade Area at the press conference.
Mr. Cuong acknowledged that some people believe that the policies outlined in Resolution 136/2024 of the National Assembly regarding the free trade area are similar to those of economic zones and may not be competitive enough compared to other countries in the region.
He emphasized that developing more attractive policies takes time. Starting from January 1, 2025, Resolution 136/2024, which organizes the urban administration and pilots a number of mechanisms and special policies for the development of Da Nang City, will come into effect. Between now and then, Da Nang must submit to the Prime Minister a proposal for the establishment of the Free Trade Area, along with corresponding policies, clearly outlining the locations of the functional subdivisions.
Additionally, the Da Nang City Council will have to consider and pass nearly 30 resolutions related to the procedures for implementing Resolution 136/2024, a significant workload, given that the pilot program is only for a five-year period.
“By 2027, Da Nang should have at least one or two functional subdivisions of the Free Trade Area established,” said Mr. Cuong. “This will provide a basis for evaluating the effectiveness of Resolution 136 and allow us to propose new policies to ensure that the Da Nang Free Trade Area can compete with other free trade areas in the region.”
The Lien Chieu Port, currently under construction in Da Nang, will be linked to the Free Trade Area.
One notable proposed location for the functional areas of the Free Trade Area is the reclamation of land from the sea. Regarding this suggestion, Mr. Tran Chi Cuong emphasized that Da Nang is surrounded by mountains on three sides and the sea on the fourth. The city will not compromise its environment for economic development. Instead, it aims for sustainable development while protecting the environment.
“Just one environmental or climate issue could have a significant impact on Da Nang,” he said. “The city recognizes the importance of maintaining a sustainable environment and will not sacrifice it for economic growth. We choose projects that ensure sustainable development and environmental protection, even if they may offer smaller financial gains.”
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