Business

Da Nang’s HPIZA to manage free trade zone as construction begins

The Da Nang Free Trade Zone, which will cover more than 2,300ha with key function sites for manufacturing, a logistics centre and trade and services, would need an investment of 40 trillion VNA (1.6 billion USD).

Construction has started on the 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: VNS/VNA)
Construction has started on the 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: VNS/VNA)

Da Nang (VNS/VNA) – Da Nang's Hi-Tech Park and Industrial Zones Authority (HPIZA) has been assigned to take on a management role for the proposed Free Trade Zone (FTZ) that will start construction this year, after the National Assembly approved the project last June.

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.

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 centralised 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 centre and trade and services, would need an investment of 40 trillion VNA (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 centre under the 2030-2050 Master Plan, as well as developing the deep-sea Lien Chieu Port and expansion of air cargo service at the current Da Nang International Airport.

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 centre 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 centre, an international education centre, a medical school and an exhibition centre.

Da Nang has also been promoting itself as an international centre for semiconductor and hi-tech industries, calling on Intel, Marvell Technology Inc. and Synopsys in the US for long-term investment commitments.

Five key partners and investors have previously inked a series of memorandums of understanding (MoUs) on cooperation in training programmes 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./.

VNA
#Da Nang #free trade zone #Da Nang's Hi-Tech Park and Industrial Zones Authority #information technology #logistics #industrial parks
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