HomeBlogTop destination for investors with Da Nang Free Trade Zone
Top destination for investors with Da Nang Free Trade Zone
Although still under construction, the Da Nang Free Trade Zone has proven to be highly attractive, attracting the interest of many large enterprises ready to invest in a market full of potential.
The National Assembly passed Resolution 136/2024/QH15 (Resolution 136) on the organization of urban government and the piloting of some special mechanisms and policies for the development of Da Nang City. The National Assembly's decision to allow Da Nang City to pilot the establishment of the Free Trade Zone is a major initiative with significant importance, providing a strong impetus for the economic development of Da Nang specifically and the overall development of the Central key economic region.
Mr. Duong Tien Lam, Head of the representative office of the Vietnam Logistics Service Business Association, evaluates that the logistics sector in Da Nang is facing a great opportunity, with the construction of the Lien Chieu seaport and the preparation for the establishment of the Free Trade Zone.
Actual image of Liên Chiểu Deep-Water Port, source: Collected.
According to Mr. Lam, when operational, the Lien Chieu port will be very favorable for attracting goods from the Central Highlands and southern provinces of Laos, replacing the current limited development space at Tien Sa port. Additionally, several key transportation projects such as highways, coastal roads connecting Lien Chieu port, or upgrading transportation routes along the East-West Economic Corridor being invested in will create a comprehensive infrastructure for logistics in Da Nang.
The development of the Free Trade Zone model will be an opportunity to promote the logistics service sector in Vietnam in general and Da Nang in particular, enabling deeper participation in the global logistics supply chain. To boost the logistics sector, Da Nang City organized the forum "Da Nang Free Trade Zone - A New Driving Force for the Development of Da Nang City's Logistics Sector" on November 14, 2024.
The city of Da Nang has organized the forum "Da Nang Free Trade Zone - A New Driving Force for the Development of Da Nang City's Logistics Sector."
Speaking at the forum, Mr. Tran Chi Cuong, Vice Chairman of Da Nang City, affirmed that the city has a strong political and economic position, with many advantages such as a high-quality labor force, well-developed infrastructure, an interconnected transportation system, and being one of the few localities with international seaports and airports, strategically located on the national transportation arteries.
Resolution 43 of the Ministry of Planning and Investment on the construction and development of Da Nang City until 2030, with a vision until 2045, sets the goal for Da Nang to become one of the major economic and social centers of the country and Southeast Asia, a maritime economic center, forming a logistics service supply chain in the Central region with Da Nang at its core.
At the forum, Mr. Nguyen Duy Minh, Vice Chairman of the Vietnam Logistics Service Business Association and concurrently Chairman and CEO of InterLOG Company, participated in dialogues discussing the importance of the Da Nang Free Trade Zone for the logistics sector and the strong potential to attract FDI investments to Da Nang and the Central region, promoting the socio-economic development of the region and the country.
Mr. Nguyen Duy Minh, Vice Chairman of the Vietnam Logistics Service Business Association and concurrently Chairman and CEO of InterLOG Company, is participating in dialogues at the forum.
During the forum, Ms. Dao Thanh Huong, Deputy Head of the Economic-Industrial Services Department at the Ministry of Planning and Investment, stated that for the logistics service, infrastructure plays an important role in connecting production and trade. Ms. Huong mentioned that there will be two stories related to attracting investment in the Da Nang Free Trade Zone.
The first story concerns the investment attraction policies within the free trade zone. What are the outstanding policies within the zone, policies that have never been seen before in precedent to be included in the project. Following that is the investment attraction policy for transportation infrastructure outside the free trade zone, particularly for logistics, such as airports, roads, and seaports. According to Ms. Huong, public-private partnerships in the transportation sector are a priority area.
The forum was successfully organized with expectations that the Da Nang Free Trade Zone will become a major maritime economic center in the country.
Mr. Le Quang Duc, Deputy General Director of Da Nang Seaport Joint Stock Company, noted the organic connection and intertwined development between the seaport and the Da Nang Free Trade Zone. He also highlighted the crucial role of transportation infrastructure. For the Free Trade Zone to effectively deal with a portion of the goods and for long-term development of Lien Chieu Port, excellent regional transportation connectivity is essential. When Lien Chieu Port develops well, it will create a competitive advantage and comparative advantage for the Da Nang Free Trade Zone.
