On June 22nd, the People’s Committee of Da Nang City announced the Prime Minister’s Decision on the establishment of the Da Nang Free Trade Zone (FTZ).
Prior to this, on June 13th, the Prime Minister issued a decision on the formation of the Da Nang FTZ. The zone will comprise seven locations and involve selecting strategic investors and attracting secondary investors according to a specific implementation plan and timeline.
Deputy Prime Minister Nguyen Hoa Binh presents the decision on the establishment of the Da Nang FTZ to the city’s leaders.
Mr. Le Trung Chinh, Chairman of the Da Nang People’s Committee, stated that the ceremony aimed to widely disseminate information about the Da Nang FTZ to delegates, investors, organizations, and individuals, both domestic and foreign. This includes details on the zone’s development orientation, planned locations, preferential policies, and implementation plans. He expressed hope that investors would show interest and invest in the Da Nang FTZ following the announcement.
According to the Chairman, the city has proactively reviewed and developed a plan with a series of tasks to be implemented in the coming time to ensure the early operation of the Da Nang FTZ. Concurrently, they will continue to propose additional mechanisms and policies that are more flexible and favorable for the Da Nang FTZ, which fall under the authority of the National Assembly, the Government, and the Prime Minister, for consideration and decision-making. They will also explore the possibility of expanding to new potential locations after the merger with Quang Nam province.
The Da Nang FTZ will encompass functional areas for production, logistics, trade and services, digital industry, innovation, and other types of functional areas as stipulated by law. The zone’s development is linked to the establishment of an international financial center, positioning Da Nang as a high-quality service center with a radiating impact on the Central – Highlands region and the entire country. It aims to become a crucial link connecting the East-West Economic Corridor, the Asia-Pacific region, and the globe.
During the ceremony, the People’s Committee of Da Nang City also presented memoranda of understanding on investment in the Da Nang FTZ to eight strategic investors and notified four interested investors of their approval to conduct investment studies.
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