In 2020, Da Nang Government proposed the Prime Minister to approve investment policy decisions, boost sufficient capital allocation and direct relevant national government agencies to accelerate key projects which serve as the driver of the city’s socio-economic development. This year is witnessing the city manage to make its key projects take shape and lift its ambitious initiatives off the ground as soon as possible.

A land lot at the corner of the Vo Nguyen Giap and Vo Van Kiet streets has been earmarked for the development of a financial commercial, entertainment, casino and luxury apartment complex.

With regard to the development of the Lien Chieu deep-sea mega-port, as per request of the Da Nang authorities, relevant national government agencies has proposed both the Prime Minister and Viet Nam's National Assembly to give the green light to provide funding for this large-scale project.

Da Nang is looking forwards to receiving 2,000 billion VND in funding from Vietnamese government for its inter-regional projects over the 2021 - 2025 period for the construction of shared infrastructure, including piers and dykes, container terminals and warehouses, at the Lien Chieu Port project.

In particular, 200 billion VND in funding from Vietnamese government is in need right now for the commence of the mega-port, said Director of the municipal Department of Planning and Investment Tran Thi Thanh Tam.

Under the project, the focus will be on developing shared infrastructure, including piers and dykes, container terminals and warehouses, developing areas of transport and logistics, equipment used for loading and unloading operations, and transshipment services for handling 3.5 to 5 million tonnes of cargo.

In detail, the would-be port could allow access of cargo ships of up to 100,000 deadweight tonnage (DWT) and container ships with loading capacities from 6,000 to 8,000 twenty-foot equivalent unit (TEUs), plus 10,000DTW liquid cargo vessels.

Also, Da Nang administration has requested Vietnamese Ministry of Transport to approve the adding of the T1 passenger terminal expansion project with an annual handling capacity of more than 10 million passengers at the Da Nang International Airport to the investment plans for the 2020 - 2025 period as a basis for implementation of the next compulsory procedures. This project is scheduled to start its construction not later than 2021.

Also, Da Nang plans to start the construction of a 300 billion VND cargo terminal which will be able to handle up to 100,000 tonnes of cargo per year as planned.

Such much-awaited developments are expected to ensure the airport’s annual capacity of handling up to 30 million passengers and 200,000 tonnes of cargo, by 2030.

Da Nang administration has requested the Ministry of Transport to approve the adding of the T1 passenger terminal expansion project with an annual handling capacity of more than 10 million passengers at the Da Nang International Airport to the investment plans for the 2020 - 2025 period

In addition, heed is being paid to clearing any obstacles hindering the progress of such other major projects as the construction of the 4-lane La Son-Tuy Loan expressway, part of the 3,183 km-long Ho Chi Minh Highway which runs through 28 Vietnamese localities.

Stretching a total of 77.6 km, the route begins at the La Son T-junction, Phu Loc District, Thua Thien-Hue Province, and ends at the intersection with the Da Nang-Quang Ngai Expressway in Tuy Loan Village, Hoa Vang District, Da Nang.

Da Nang is striving to as soon as possible embark upon the establishment of an international financial centre (IFC) as a core pillar of contemporary global finance, thus putting the whole country’s profile onto the globally financial map.

In the mood to kick-start Da Nang’s landmark ambition to become a successful hub to attract financial institutions and investors, Da Nang is mapping out plans for the development of a financial commercial, entertainment, casino and luxury apartment complex at the corner of the Vo Nguyen Giap and Vo Van Kiet streets and a number of land lots along the Vo Van Kiet with a total area of about 8.4 ha and a total investment of about 47,000 billion VND to lay a foundation for IFC.

In December, 2020, as per request by the Da Nang government, the Ministry of Planning and Investment has sought investment policy decision from the Prime Minister on a large-scale Southeast Asia regional-level IFC. If approved, more concrete plans for such a centre will be carried out, with a focus on selecting project consultancies, especially highly prestigious international ones.

Such a financial centre showcases a full financial hub with direct access to major capital pools from banks, insurance companies, investment funds, and listed capital markets, would enable companies, institutions, and individuals from around the world to meet needs like financing supply chains and managing risks.

In addition to the aforementioned key projects, the rest of this year will see Da Nang gear up preparing the pre-feasibility study report on the first stage of the railway station relocation project, completing the second stage of an around 420 billion VND project expanding an aircraft apron in the Da Nang International Airport to the north, commencing the upgrade and expansion of national highways, and upgrading the Da Nang navigation channel for handling ships of up to 50,000 DWT.

By THANH LAN, HOANG HIEP- Translated by A.T