A key traffic route connecting Đà Nẵng City's downtown zone with new designed Free Trade Zone. The city has approved an investment plan on the seventh functional area of the Free Trade Zone (FTZ7). Photo courtesy of Quốc Vương

ĐÀ NẴNG – The central city’s People’s Committee has approved an investment plan for the development of the seventh functional area of the Đà Nẵng Free Trade Zone 7 (FTZ7) on an area of 276ha with a capital of VNĐ3.52 trillion (US$140.8 million).

The Đà Nẵng Special Economic Zone Authority (DSEZA) said the project, the last location of the 1,881ha Đà Nẵng FTZ, would start construction from the fourth quarter of 2027 and begin full operation in 2032.

The FTZ7 has been designed for the development of manufacturing, information technology, digital industries and logistics, DSEZA said.

The investor of the project will be approved later, but the investment plan has been sent to the Việt Nam–Singapore Industrial Park (VSIP) joint-venture company.

In July, VSIP’s investment proposal was approved by the city for the development of infrastructure for the Điện Tiến Industrial Park, south of Đà Nẵng, with an investment of $138.15 million.

Last week, the city also approved an investment plan by FTZ Kita Trung Nam Company (including two members – Kita Group and Trung Nam joint-stock Corporation) – to build infrastructure in the FTZ6, or an International Commercial & Service Gate on 154ha, with an investment of VNĐ3.35 trillion ($134 million).

Hi-tech industries factories are built on the Đà Nẵng Information Technology Park. Đà Nẵng City has approved investment plans on seven functional areas on the Free Trade Zone, of which two investors started construction. Photo courtesy of Quang Huy

Two investors of FTZ5 and FTZ2 officially kicked off construction in the third quarter of 2025.

The Sài Gòn-Đà Nẵng Investment Joint Stock Corporation started the construction of the Đà Nẵng Free Trade Zone 2 (FTZ2), also known as Eagle FTZ, on 75ha with an investment of VNĐ1.6 trillion (US$61.3 million) in August.

Last year, local property developer Sun Group began construction of the FTZ5 on 90ha with an investment of $32 million.

Two other local investors – Phương Trang Group and Thanh Bình Phú Mỹ JSC – had received investment licences to develop the FTZ3 and FTZ4.

Vũ Quang Hùng, head of DSEZA, told Việt Nam News and Law thay the Đà Nẵng FTZ is expected to contribute 17.9 percent to the city's gross regional domestic product (GRDP) and create 127,000 jobs by 2040.

The Đà Nẵng FTZ will develop infrastructure linked to under-construction Liên Chiểu deep-sea port, the East-West Economic Corridor connecting Myanmar, Thailand, Laos and Việt Nam, the Chu Lai seaport and airport system, the Chu Lai Open Economic Zone, and a cluster of key industrial zones in Chu Lai.

The FTZ will require a total investment of VNĐ40 trillion (US$1.6 billion) to develop into a leading regional economic hub and a strategic growth driver for Việt Nam, alongside the city's newly established International Financial Centre.

The city’s Finance Department reported that Đà Nẵng has so far drawn more than 2,000 domestic investment projects, worth VNĐ916.84 trillion (US$35.48 billion), and 1,162 foreign direct investment (FDI) projects with total $11.2 billion. VNS