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International trade

Da Nang Free Trade Zone Established to Drive Central Vietnam's Economic Growth

Strategic Insights

— 1 min read

The Vietnamese government has taken a significant step towards boosting economic development in central Vietnam with the establishment of the Da Nang Free Trade Zone (FTZ). Permanent Deputy Prime Minister Nguyen Hoa Binh signed a decision to launch the zone, which will be strategically connected to major infrastructure facilities, including the Lien Chieu Port, Da Nang International Airport, and the East - West economic corridor. The Da Nang FTZ aims to become a regional-level economic hub, driving growth in the central region and the nation as a whole. With a coverage area of 1,881 ha, the zone will cater to various sectors, including production, logistics, trade, services, digital technology, and innovation.

Key Takeaways:

  • The Da Nang FTZ will be developed with modern and comprehensive infrastructure for manufacturing, logistics, trade, and high-quality technology and services.
  • The zone aims to become a regional-level economic hub and a strategic growth powerhouse for both the central region and the nation in the new development context.
  • The long-term goal is to position the zone as an important link in global and Asia-Pacific supply chains.
  • The zone is envisioned as an international manufacturing hub and transit point connected to Da Nang International Airport, Lien Chieu Port, and the East - West economic corridor.
  • The development of the Da Nang FTZ will follow a roadmap aligned with the national socio-economic development strategy, Da Nang's master plan, and the approved goals and orientations for the FTZ.
  • The zone will contribute to the development of high-tech industry, innovation, and digital transformation, as well as Da Nang's economic restructuring towards sustainability and intensive integration following its merger with Quang Nam province.

Statistics:

  • The Da Nang FTZ will cover an area of 1,881 ha.
  • The zone will be developed with modern infrastructure for manufacturing, logistics, trade, and high-quality technology and services.

Sources:

  • Vietnam News Agency (June 17)

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