Deputy Prime Minister Nguyễn Hòa Bình presents the Prime Minister's Decision on the establishment of Đà Nẵng Free Trade Zone to Đà Nẵng authorities. — VNA/VNS Photo

ĐÀ NẴNG — In a significant milestone for regional development, Deputy Prime Minister Nguyễn Hòa Bình on June 22 officially announced the Prime Minister's Decision to establish the Đà Nẵng Free Trade Zone (FTZ), the first of its kind in Việt Nam.

This strategic initiative marks a turning point for the city of Đà Nẵng, the Central Highlands, and the nation as a whole, setting the stage for enhanced economic integration, innovation, and investment.

Spanning approximately 1,881 hectares, the Đà Nẵng Free Trade Zone comprises non-contiguous areas with specialised functional zones including production, logistics, trade and services, digital technology, information technology and innovation hubs.

Developed with state-of-the-art infrastructure, the FTZ is designed to become a leading regional economic centre and a strategic growth pole in Việt Nam’s new development landscape.

The long-term vision for the zone includes transforming it into a vital node within the global supply chain, particularly within the Asia-Pacific region.

It aims to serve as a hub for international freight transit, with connections to Liên Chiểu Port, Đà Nẵng International Airport and the East-West Economic Corridor.

The FTZ is a key component in Việt Nam’s broader economic restructuring strategy, especially as Đà Nẵng prepares for greater integration following its planned merger with parts of Quảng Nam Province.

It is also closely linked to the development of the Đà Nẵng International Financial Center, intended to foster a smart, modern, and competitive economic ecosystem that strengthens Việt Nam’s position on the global stage.

Deputy Prime Minister Nguyễn Hòa Bình emphasized the FTZ’s symbolic importance as the first free trade zone in Việt Nam, highlighting its role as an important step in realising the Central Government's long-term vision for Đà Nẵng.

During the ceremony, several Memoranda of Understanding (MOUs) were signed between Đà Nẵng City authorities and major domestic and international investors. These include Terne Holdings Group, One Destination, BRG Group, Imex Pan Pacific, Newtechco Group and Saigon Đà Nẵng Investment JSC - demonstrating widespread confidence in the FTZ's potential.

These MOUs are seen as concrete first steps toward realising the zone’s promise. They will contribute directly to turning strategic policy frameworks into practical, growth-driving initiatives.

Speaking at the ceremony, Chairman of the Đà Nẵng People’s Committee Lê Trung Chinh described the FTZ as a 'breakthrough institutional model' aimed at fostering green growth, innovation and attracting strategic investment.

He emphasised the city’s commitment to putting the FTZ into operation swiftly and efficiently, through clear planning, administrative reform, and policy innovation.

The FTZ will work in tandem with other high-impact projects, such as the development of a deep-water port, the Pearl Island area, and the International Financial Centre, according to the chairman. Together, these initiatives are expected to make Đà Nẵng a compelling destination for both foreign direct investment and domestic enterprise growth.

The establishment of the Đà Nẵng Free Trade Zone is more than just a regional development initiative - it is a symbol of Việt Nam’s evolving role in the global economy.

With the right infrastructure, policies, and partnerships in place, Đà Nẵng is poised to become a central hub for innovation, logistics, and international commerce in the years to come.

“Đà Nẵng calls upon investors from around the world to explore the potential of the Đà Nẵng Free Trade Zone, to contribute to building a dynamic centre of production, service, and innovation - an essential engine of growth for the Central region and for Việt Nam in this new era of global integration,” Chinh said. — VNS