The Da Nang Hi-Tech Park and Industrial Zones Authority has now finalised all administrative procedures under its jurisdiction in accordance with the FTZ’s special mechanisms and policies, leaving the system ready for deployment once the zone’s functional areas officially begin operations.
A growing number of German companies now see Vietnam as an attractive investment destination. With a clear development strategy and new incentives, Da Nang is well-placed to capture demand from German firms seeking new footholds in Asia.
The Da Nang FTZ is expected to contribute 17.9% to the city’s gross regional domestic product and create 127,000 jobs by 2040, with total investment needs estimated at 40 trillion VND (1.6 billion USD).
In recent years, Da Nang has streamlined administrative procedures, launched a transparent digital platform for investors, upgraded transport, logistics, seaport, and airport infrastructure, and developed a startup and innovation ecosystem. Preferential policies and flexible cooperation mechanisms have also helped attract both domestic and foreign investors.
Da Nang has forged partnerships with more than 22 Japanese localities, and Japan remains its top foreign investor, with 1.14 billion USD committed across 261 projects.
Da Nang was on June 22 officially allowed to establish a Free Trade Zone to bring tremendous opportunity to the central city and help Vietnam enhance its position on the global economic map.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.