Pioneering Institutional Model Development
On the afternoon of November 28, Da Nang City People’s Committee, in collaboration with the Import-Export Department of the Ministry of Industry and Trade, hosted an investment promotion conference for the Free Trade Zone and logistics infrastructure.
The seminar saw the participation of numerous experts, businesses, and investors in the logistics sector. Photo: Giang Thanh.
Da Nang is recognized for its unique advantages to become a significant international trading hub. Over the years, the city has heavily invested in logistics infrastructure, including Tien Sa Port and Lien Chieu Port, which are being finalized to serve as international cargo transit centers. The city also boasts two major airports, a modern inter-regional transportation network comprising highways, National Highway 1, railways, and logistics centers.
The Da Nang Free Trade Zone is under development, with the production and logistics functional area playing a crucial role in transforming Da Nang into a global manufacturing and cargo transit hub. This area is closely linked with Lien Chieu Port, Tien Sa Port, Da Nang International Airport, Chu Lai Airport, and the East-West Economic Corridor.
According to Ms. Do Thi Quynh Tram, Deputy Director of Da Nang Department of Industry and Trade, the Da Nang Free Trade Zone is a novel model without precedent and is not yet specifically regulated in the current legal framework.
However, the incentive mechanisms and policies permitted by the National Assembly in Resolution No. 136 remain cautious, primarily based on the general policy framework for economic zones, failing to create a truly competitive and attractive model.
With new special mechanisms, the Da Nang Free Trade Zone aims to become a global FDI destination.
“To leverage its unique advantages, build a pioneering institutional model with international competitiveness, and create a new destination for global foreign direct investment (FDI), Da Nang has proposed new specific policies for the Free Trade Zone to be submitted for approval at the ongoing 10th National Assembly session,” said Ms. Tram.
Among the proposed policies are liberal and superior measures such as land allocation and lease without land use rights auctions, project bidding with land use for priority sectors, designation of strategic investors for technical infrastructure development, full exemption of land and water surface rental fees for projects, corporate income tax reductions, priority customs regimes, and relaxed visa and residency permits for experts and their families. The pilot period for these special mechanisms is set at 10 years.
Connecting and Driving the Eastern Region
According to Mr. Le Quang Nam, Vice Chairman of Da Nang City People’s Committee, following the merger, the city has significant advantages with two international airports. The challenge is to connect the eastern region and establish a supply chain between Da Nang Airport and Chu Lai Airport.
The eastern region of Da Nang spans approximately 4,000 km² (35% of the total area) but houses a population of 2.5 million (nearly 90% of the total population). The western region, covering 65% of the area with hilly terrain and less developed areas, is focused on agriculture, industrial zones, and high-tech agriculture.
Vice Chairman of Da Nang City People’s Committee Le Quang Nam expressed the city’s desire to attract new investment in logistics.
“Initially, we aim to develop the eastern region, stretching from Da Nang Airport to Chu Lai Airport, into a coastal urban chain and a key socio-economic zone, supporting the development of the western region,” said Mr. Nam.
The Vice Chairman emphasized that with a focus on modern, synchronized, and sustainable logistics development, Da Nang will gradually become a national logistics hub with international significance, offering diverse transportation methods, logistics chains, and enhanced cargo and service value. This will foster logistics growth, trade, services, and a green economy.
“Da Nang seeks to attract new investment in logistics, a sector pivotal to the city’s growth for decades. We are committed to partnering with businesses and international stakeholders, ensuring a conducive environment to turn vision into action, transform potential into reality, and make Da Nang a desirable place to live, invest, and experience in the region and globally,” Mr. Nam added.
Da Nang is investing heavily to synchronize logistics infrastructure.
According to Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department, Ministry of Industry and Trade, attracting investment in logistics infrastructure is crucial, especially as Da Nang aims to transition its economic structure, positioning logistics as a key development pillar.
“The Da Nang Free Trade Zone will be an attractive destination for businesses in logistics, tariff-free trade, and high-tech industries,” said Mr. Hai.
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