A beach zone in Đà Nẵng City's Hải Vân Ward. The city has outlined five areas on the boundary of the Đà Nẵng Free Trade Zone to begin infrastructure construction. VNS Photo Công Thành

ĐÀ NẴNG – The central city of Đà Nẵng has assigned five locations on 1,228ha near the boundary of the Free Trade Zone (FTZ) that must complete surveys, land clearance and land-use procedures in preparation for construction on the first items in the zone.

The city said the largest area of the five proposed sites will be in Hải Vân Ward (500ha) and Bà Nà commune (645ha), including the Bà Nà-Suối Mơ tourism complex and a residential urban zone further downhill.

According to city officials, surveys on the current legal situation regarding land use and forests will be completed by the end of the year, ahead of starting land clearance and infrastructure projects in the FTZ, while also seeking strategic partners and investors.  

The Đà Nẵng FTZ, which was established in July on an area of 1,881ha, will build specialised functional zones including production, logistics, trade and services, digital technology, information technology and innovation hubs that would need a total investment of VNĐ40 trillion (US$1.6 billion).

It is designed to become a leading regional economic centre and a strategic economic driver in Việt Nam, along with an international finance centre under the 2030-2050 Master Plan, as well as projects to develop the deep-sea Liên Chiểu Port and the expansion of air cargo service at Đà Nẵng International Airport.

The FTZ will expand its boundary southward to cover the current Chu Lai Open Economic Zone.

Last month, Đà Nẵng signed Memoranda of Understanding (MOUs) with Terne Holdings Group, One Destination, BRG Group, Imex Pan Pacific, Newtechco Group and Saigon Đà Nẵng Investment JSC as key investors in the FTZ.

Đà Nẵng City has been looking for strategic investors with an investment fund from VNĐ2 trillion ($77 million) to VNĐ8 trillion ($306 million) for the FTZ.

Local investor Sài Gòn - Đà Nẵng Investment joint stock company (SDN) has started construction on the Hòa Nhơn Industrial Park.

Vin Pearl company, a member of Vin Group, also started construction last month on a 512-hectare Làng Vân Integrated tourism project.