The Future of Vietnam: A Visionary Project with 5 Man-Made Islands and a Mega-Port Worth Over 50,000 Billion

On June 22nd, the Danang People’s Committee organized a ceremony to announce the Prime Minister’s decision to establish the Danang Free Trade Area.

According to the decision, the Danang Free Trade Area will cover an area of approximately 1,881 hectares and will be located in non-adjacent positions, including functional areas for production, logistics, trade and services, digital industry, information technology, and innovation, along with other types of functional areas as stipulated by law.

The long-term goal is to develop the Danang Free Trade Area into a crucial link in the global and Asia-Pacific supply chain network and a production hub and international cargo transshipment center linked to Lien Chieu Port (with a total expected investment of over VND 50 trillion), Danang International Airport, and the East-West Economic Corridor.

Additionally, this area will promote the development of innovative and digital transformation industries, positively contributing to Danang’s economic restructuring process after the merger with Quang Nam Province, towards sustainability and deeper integration, becoming a significant driving force for Danang and the entire region.

Speaking at the ceremony, Deputy Prime Minister Nguyen Hoa Binh emphasized that this initiative originated from Danang City and was selected by the Central Government for a pilot program, with the expectation that it will boost global economic connectivity and regional development post-merger.

According to the Deputy Prime Minister, in addition to the Free Trade Area, the Central Government has also approved several of Danang’s economic initiatives and proposals, including a financial center, a deep-water port, a light festival, and Danang Downtown. These projects will undoubtedly contribute to the city’s robust growth in the coming years.

Danang Holds Significant Development Potential with Unique Initiatives

Notably, the Deputy Prime Minister mentioned Danang’s plan to reclaim land from the sea to form five islands, reminiscent of Dubai’s Palm Island, and envisioned that in the near future, the city would also boast sparkling gem-like islands.

The Deputy Prime Minister emphasized that Danang is perhaps associated with the number five, as nature has endowed the city with the Five Elements Mountains (Ngũ Hành Sơn). Additionally, the people of Danang have created the “Five Phoenixes Flying Together” (Ngũ Phụng Tề Phi), and the city is now collectively working on developing five gem-like islands. According to the Deputy Prime Minister, with Danang’s initiatives and efforts, the city is destined to become the economic powerhouse of the region.

Moreover, the Deputy Prime Minister pointed out that following the merger with Quang Nam Province, Danang’s economic scale has expanded, offering more room and potential for growth, and allowing for connections to world heritage sites, thereby creating opportunities to link with other economic zones such as Chu Lai and Dung Quat.

Mr. Le Trung Chinh, Chairman of the Danang People’s Committee, stated that to ensure the efficient operation of the Danang Free Trade Area, the city has proactively reviewed and developed a plan with a series of tasks to be implemented in the near future. Concurrently, the city continues to propose additional mechanisms and policies that are more flexible and advantageous for the Danang Free Trade Area for approval by the competent authorities.

Furthermore, the city is also studying the proposal to develop the Danang Free Trade Area after the merger with Quang Nam Province by expanding into new potential locations and implementing a reasonable maritime spatial plan.