Establishing the Da Nang Free Trade Zone: A Priority for Vietnam’s Economic Growth

The report from the Da Nang City Party Committee’s Standing Board states that, as of now, the City’s Party Committee, People’s Council, and People’s Committee have focused on directing the implementation of Resolution 136 by the National Assembly regarding the organization of urban administration and the pilot mechanism and special policies for the development of Da Nang city. The Standing Board of the City Party Committee has issued Directive No. 44 in 2024 on leading the implementation of Resolution No. 136 by the National Assembly; establishing a Steering Committee for the implementation of Resolution No. 136; and formulating a working regulation with specific tasks assigned to each member.

The city of Da Nang has also surveyed and selected the locations for the functional areas within the Da Nang Free Trade Zone, promoting collaboration with a number of strategic investors who are interested in preparing to hire consultants to build the Da Nang Free Trade Zone proposal and establishment dossier to submit to the Prime Minister for consideration and decision-making. The city also directs relevant agencies to focus on drafting resolutions to be issued by the City People’s Council, as well as promulgating regulations and decisions under the authority of the City People’s Committee and the City People’s Committee Chairman to ensure the legal basis for implementing Resolution 136 of 2024 by the National Assembly from January 1, 2025.

Mr. Nguyen Van Quang, Secretary of the Da Nang City Party Committee, stated that Resolution 136, issued by the National Assembly, is not only a joy for the Party Committee, authorities, and people of the city but also highly appreciated by many other localities. Currently, the city is urgently advising the Government to establish a Steering Committee for the implementation of this Resolution.

“The city is determining the location of the Free Trade Zone. If successful, it will serve as a valuable lesson for numerous other localities. We are focusing on identifying the locations to submit to the Prime Minister. We are also engaging international consultants who can later assist in connecting and attracting strategic investors,” said Mr. Nguyen Van Quang.

Speaking at the meeting, Vice Chairman of the National Assembly Nguyen Duc Hai stated that Resolution 136 by the National Assembly presents an opportunity for Da Nang’s development. While the model of a Free Trade Zone is novel in Vietnam, it has been successfully implemented in many parts of the world. The National Assembly is committed to accompanying the city to accelerate its socio-economic development. Currently, several localities, including Nghe An, Thanh Hoa, Khanh Hoa, and Can Tho, have applied special mechanisms, but each has its unique approach. Da Nang city needs to forge its path rather than following the examples of other localities. The National Assembly highly anticipates that the city will take advantage of this special resolution to boost its socio-economic development.

Vice Chairman of the National Assembly Nguyen Duc Hai requested the city to continue thorough preparations before piloting the special mechanisms and policies, proactively coordinating with central ministries and sectors to address difficulties and obstacles in implementing Resolution 136 effectively. The Vice Chairman also urged the city to concentrate its resources on establishing the Free Trade Zone as a driving force for the city’s development.

“There are numerous special mechanisms, but the most recent one is the special mechanism for Da Nang city, which presents new opportunities and challenges. This special mechanism is ready for piloting and drawing lessons. The most important task is to establish the Free Trade Zone for the city’s development. The National Assembly is committed to accompanying Da Nang city with the shared goal of accelerating its socio-economic progress,” emphasized Vice Chairman of the National Assembly Nguyen Duc Hai.