A sea-dyke section of the on-going construction Liên Chiểu deep-sea port is completed. The port is a key logistics service in linkage with the Đà Nẵng Free Trade Zone. Đà Nẵng City has approved an investment promotion plan in calling key infrastruture projects of the FTZ. — Photo courtesy of Giao Liên

ĐÀ NẴNG — The central city of Đà Nẵng has approved an investment promotion plan to attract strategic investors for infrastructure development at the 1,881-hectare Đà Nẵng Free Trade Zone (FTZ), positioning it as the country’s first pilot zone for applying so-called renewal institutions to drive a new economic growth model.

The management board of the Đà Nẵng FTZ said the zone, designed with seven specialised functional areas including production, logistics, trade and services, digital technology, information technology and innovation hubs, would apply special mechanisms and preferential policies to establish a pioneering model for Việt Nam’s economic development.

It said the successful operation of the Đà Nẵng FTZ would be used as a template for developing other free trade zones nationwide.

The FTZ is expected to offer the smoothest conditions yet for investors, operating a one-stop administrative mechanism covering land-use certificates, investment licences, construction, environmental procedures, customs and tax.

According to the management board, the city has already signed memorandums of understanding with several investors, including BRG Group, Sài Gòn Đà Nẵng Company, Phương Trang Group, Thanh Bình Phú Mỹ Company, Terne Holdings Group, Imex Pan Pacific, Newtechco Group and Sun Group, for the implementation of functional sites within the zone.

Trucks unload at a logistics centre in Đà Nẵng Hi-tech Park. The city has been calling for investment in infrastructure projects for the Đà Nẵng Free Trade Zone. VNS Photo Công Thành

Last year, Sun Group officially began construction of the fifth functional site, a 90ha hub for eco-tourism, high-quality health care services, luxury resorts, premium entertainment, duty-free trade and international-standard shopping at the foot of Bà Nà Hills, with an investment of VNĐ800 billion (US$32 million).

Meanwhile, Sài Gòn Đà Nẵng Company has been preparing construction schedules for the second functional site, a logistics centre within the FTZ, located at the foot of the Hải Vân Pass.

The Đà Nẵng FTZ is expected to contribute 17.9 per cent to the city’s gross regional domestic product and create 127,000 jobs by 2040, with total investment needs estimated at VNĐ40 trillion (US$1.6 billion).

It is intended to serve as an international freight transit hub, linked to Liên Chiểu Port, Đà Nẵng International Airport, Chu Lai Airport and the East-West Economic Corridor, with a long-term vision of integrating into the Asia-Pacific global supply chain.

The city also plans to inaugurate the first office of the International Finance Centre in January at the newly launched Đà Nẵng Software Park No 2, under its strategic master plan for 2030–50.

Last year, a range of investors from Japan, Korea, Singapore, the US and China, including Sumitomo, Hyundai E&C, KOGI Group, Bitdeer, Soilbuild and ST Telemedia, as well as the Shandong Enterprise Group Overseas Development Promotion Association, Topgene Biotechnology and Capstone Investment, conducted surveys and working visits at the Đà Nẵng FTZ.

Meanwhile, US-based CT-Strategies and Switzerland’s VinaLog Holding AG proposed advisory, logistics and infrastructure projects linked to the FTZ.

The FTZ is expected to expand southwards to cover the existing Chu Lai Open Economic Zone.

Đà Nẵng City is seeking strategic investors with investment capital ranging from VNĐ2 trillion (US$80 million) to VNĐ8 trillion (US$320 million) for projects within the FTZ. VNS