The Central city’s People’s Committee said the decision, which was signed on April 29, will help the HPIZA accelerate preparatory work on establishing the FTZ project in the near future.
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Director of Da Nang city's Priority Infrastructure project management board Le Thanh Hung displays a development plan for the Lien Chieu deep-sea port, an important piece of the plans for the Da Nang Free Trade Zone. (Photo courtesy of Giao Lien) |
It said the HPIZA will gain a new name: the Da Nang Special Economic Zones Authority (SEZ), covering the management of the Hi-Tech Park, IT Park, six other industrial parks, four centralized information technology zones (CIZs) and other semiconductor, AI and digital economy developments.
The Da Nang FTZ, which will cover more than 2,300ha with key function sites for manufacturing, a logistics center and trade and services, would need an investment of 40 trillion VND (1.6 billion USD).
According to the city's People's Committee, the FTZ will be developed along with plans to build an international finance center under the 2030-2050 Master Plan, as well as developing Lien Chieu deep-sea port and expansion of air cargo service at the current Da Nang International Airport.
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Construction has started on Lien Chieu deep-sea port in Da Nang. The port will be a key base for logistics and exports for the Da Nang Free Trade Zone. (Photo: vietnamnews.vn) |
The city has submitted a plan for a duty-free zone on 151ha at the end of Ba Na Suoi Mo Road, 30km southwest of the center and near the Ba Na Hills resort. This proposed zone will be a trade complex and entertainment site, including duty-free shops, a logistics hub, warehouses, healthcare services, an R&D center, an international education center, a medical school and an exhibition center.
Da Nang has also been promoting itself as an international center for semiconductor and hi-tech industries, calling on Intel, Marvell Technology Inc. and Synopsys in the U.S. for long-term investment commitments.
Five key partners and investors have previously inked a series of memorandums of understanding (MoUs) on cooperation in training programs on semiconductors and AI in the city worth nearly 300 million USD.
Thus far, six industrial parks, the Hi-Tech Park and the IT Park have drawn more than 1,000 projects with total investment of 4.35 billion USD.
Source: VNA