With the aim of “creating new motivation for Danang’s development in the next phase”, the National Assembly is expected to consider and pass a resolution during its 7th session of the XV term to amend and supplement Resolution No. 119/2020/QH14. This resolution pertains to the pilot implementation of a metropolitan government model and several specific mechanisms and policies for the city’s development.
Danang: A Haven for Entertainment and Spending
Mr. Tran Thanh Man envisions Danang, a central coastal city and a tourism hub, as a place where surrounding provinces can spend their money. He hopes that Danang will become a paradise for dining, entertainment, recreation, and shopping for both domestic and international tourists.
Danang aims to become a paradise for entertainment and shopping for tourists.
To unlock its latent strengths and potential for the next phase of development, Danang requires a boost in the form of breakthrough mechanisms and policies. Therefore, based on the evaluation of the three-year implementation of the current resolution, the government has drafted a new resolution proposing 30 specific policies for pilot implementation. These include nine policies related to the organization of the metropolitan government and 21 special policies for Danang’s development, such as the establishment of a free trade area.
The Vice President of the National Assembly emphasized the need to focus on policies that highlight Danang’s unique characteristics. He suggested investing in developing Danang into an international urban seaport and a central hub for the Central region. Danang’s future lies in developing its services sector to increase per capita income and improve the lives of its citizens. Strengthening investment in key sectors like tourism is essential…
Danang has recently unveiled plans for projects along the Han River.
The Chairman of the National Assembly’s Economic Committee, Mr. Vu Hong Thanh, affirmed that providing special and breakthrough mechanisms and policies would help unlock Danang’s potential for development.
Minister of Planning and Investment, Mr. Nguyen Chi Dung, referred to this as an opportunity for Danang to make a breakthrough, likening it to a compressed spring that, once released, will propel the city’s development. He emphasized the importance of special mechanisms, citing the example of a one-door procedure, which needs to be streamlined to be competitive in attracting investment. He mentioned countries where the entire process of establishing a Tesla car factory, from groundbreaking to inauguration, took only 11 months.
Danang: An Attractive Investment Destination
Mr. Le Trung Chinh, Chairman of the Danang People’s Committee, has also emphasized the goal of “unlocking investment resources to boost growth” for the city, which is renowned as one of the most livable places in Vietnam.
In the first quarter of 2024, Danang granted construction permits to 14 projects by domestic and foreign investors, with a total investment of nearly VND 13,000 billion. In the second quarter, the city plans to license more projects with a total investment of nearly VND 10,000 billion. The city has also been working on adjusting the planning, investment procedures, and legal framework for various projects…
Golden Bridge (Ba Na Hills) – A symbol of Danang’s tourism.
Regarding tourism, Danang, with its unique transport infrastructure encompassing air, road, and sea travel, attracts nearly eight million domestic and international visitors annually. They come to enjoy the annual fireworks festivals and experience world-class tourism, entertainment, and leisure complexes such as Sun World Ba Na Hills, Golden Bridge, and InterContinental Danang Sun Peninsula Resort. Danang is also an attractive place to live, with tens of thousands of foreigners, including over 11,000 Koreans, calling it home. With the anticipated approval of the special mechanisms and policies, Danang is expected to unlock its potential, achieve sustainable development, and attract talented and wealthy individuals to settle in the city.
As Mr. Vo Tri Thanh, Director of the Institute for Brand and Competition Strategy, aptly stated, “Danang itself has inherent potential, and its fragrance naturally spreads. People are interested in Danang because they see it as a place where they can do business and invest well. Looking at Danang’s master plan, one can see the enormous potential for development, which translates into countless investment, business, and job opportunities in this coastal city. Hence, Danang has a lot of potential to become an attractive investment destination.”
