Business

Vietnam strives to build free trade zones and duty-free ports

PM Pham Minh Chinh urges free trade zones and duty-free ports to boost growth and position Vietnam as a digital-era logistics hub.

Lien Chieu Port in Da Nang City. The development of free trade zones and duty-free ports is seen as a strategic move to boost Vietnam's global competitiveness, particularly in trade and logistics. (Photo: VNA)
Lien Chieu Port in Da Nang City. The development of free trade zones and duty-free ports is seen as a strategic move to boost Vietnam's global competitiveness, particularly in trade and logistics. (Photo: VNA)

Hanoi (VNS/VNA) - Prime Minister Pham Minh Chinh has called for the establishment of free trade zones (FTZs) in key economic regions and the exploration of duty-free ports as part of a broader effort to stimulate economic growth, attract investment and position Vietnam as a leading logistics hub in the digital era.

The initiative is part of Directive 47, which outlines urgent tasks and strategic measures aimed at accelerating national growth this year.

The development of free trade zones and duty-free ports is seen as a strategic move to boost Vietnam's global competitiveness, particularly in trade and logistics.

By improving the distribution of goods, these initiatives aim to strengthen the country’s position in international markets.

The plan comes amid calls for bold institutional and infrastructure reforms to ensure high and sustainable economic growth.

Vo Tan Duc, chairman of the People’s Committee of Dong Nai province, has proposed a 2,000ha pilot free trade zone near Long Thanh International Airport and Phuoc An Port during the recent working session with Minister of Construction Tran Hong Minh.

The proposal, submitted to the Prime Minister in February, aims to leverage the region’s strategic location to spur economic growth, attract foreign investment and position Long Thanh as a key regional trade and services hub.

The project is expected to play a pivotal role in helping the province achieve double-digit GDP growth starting this year.

In parallel, the central coastal city of Da Nang is advancing its development ambitions through a newly signed memorandum of understanding with Vingroup.

The agreement, focused on green transformation and sustainable development for the 2025-30 period, includes plans to explore the establishment of a free trade zone and a financial centre.

During a recent working session with Vinh Phuc province, Prime Minister Pham Minh Chinh endorsed the province's proposal to establish a free trade zone and directed local authorities to urgently draft a detailed project for submission to the appropriate agencies./.

VNA
#free trade zones #Vietnam's global competitiveness #duty-free ports #accelerating national growth
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