Vietnam Launches First Free Trade Zone in Da Nang to Drive Regional Growth and Global Integration

Da Nang, The Gulf Observer: In a landmark move for Vietnam’s economic future, Deputy Prime Minister Nguyễn Hòa Bình officially announced the Prime Minister’s Decision to establish the Đà Nẵng Free Trade Zone (FTZ) – the first of its kind in the country – marking a transformative step for the Central region and the nation’s broader development strategy.

Spanning approximately 1,881 hectares across non-contiguous zones, the Đà Nẵng FTZ features specialised functional areas including production, logistics, trade and services, digital technology, information technology, and innovation hubs. Equipped with world-class infrastructure, the zone is envisioned to become a premier economic centre and strategic growth pole in Vietnam’s new development landscape.

The initiative is central to Vietnam’s ongoing economic restructuring and is expected to serve as a crucial node in the global supply chain, particularly across the Asia-Pacific region. With strategic connectivity to Liên Chiểu Port, Đà Nẵng International Airport, and the East-West Economic Corridor, the FTZ aims to establish Đà Nẵng as a key hub for international freight transit and investment.

Deputy Prime Minister Nguyễn Hòa Bình underscored the FTZ’s importance, calling it a “symbolic milestone” in the government’s long-term vision for Đà Nẵng and an essential step in enhancing national economic competitiveness.

During the launch ceremony, several Memoranda of Understanding (MOUs) were signed between Đà Nẵng authorities and prominent domestic and international investors. These include Terne Holdings Group, One Destination, BRG Group, Imex Pan Pacific, Newtechco Group, and Saigon Đà Nẵng Investment JSC, signaling strong investor confidence and a shared commitment to the zone’s success.

Chairman of the Đà Nẵng People’s Committee Lê Trung Chinh hailed the FTZ as a “breakthrough institutional model” aimed at advancing green growth, strategic investment, and innovation. He affirmed the city’s dedication to operationalising the zone swiftly through streamlined planning, administrative reform, and progressive policy frameworks.

The FTZ is also aligned with several major infrastructure projects, including the development of a deep-water port, the Pearl Island area, and the Đà Nẵng International Financial Centre. Together, these developments are set to position Đà Nẵng as a magnet for both foreign direct investment and domestic enterprise expansion.

“The Đà Nẵng Free Trade Zone is more than a regional development initiative – it is a statement of Vietnam’s growing role on the global economic stage,” said Chairman Chinh. “We call upon investors worldwide to explore the FTZ’s vast potential and join us in building a vibrant, future-oriented hub for production, services, and innovation in Vietnam.”

As Đà Nẵng prepares for increased integration, including a planned merger with parts of Quảng Nam Province, the FTZ stands as a critical instrument in reshaping Vietnam’s economic landscape – ushering in a new era of regional prosperity and global connectivity.