According to the Politburo’s Conclusion No. 79, in the immediate future, Da Nang will lay an emphasis on building mechanisms and policies to mobilse resources to build a pilot free trade zone and international financial centre on a regional scale, and turn itself into a regional centre for logistics. These policies are expected to be the driving force for the city to promote the development of many economic sectors, and fully tap its central role in the central dynamic region.

The pilot construction of the Da Nang Free Trade Zone associated with the Lien Chieu Port will be the driving force for the city’s breakthrough development in the future. IN PHOTO: A corner of the shared infrastructure part of the Lien Chieu Seaport project under construction. Photo: HOANG HIEP

Associated with central role of Da Nang

The National Assembly of Viet Nam has just passed a Resolution on urban government organisation and piloting a number of specific mechanisms and policies to develop Da Nang, including a number of mechanisms and policies for investors and businesses operating in the soon-to-be-established Da Nang Free Trade Zone.

Head of the Authority of the Da Nang High-Tech Park and Industrial Zones Vu Quang Hung said that, in the soon-to-be-established Da Nang Free Trade Zone, the production zone will include the Da Nang High-Tech Park, effectively connect production infrastructure, and support for new industrial parks and clusters that will develop in the future such as the Hoa Cam Industrial Park at phase 2, the Hoa Nhon Industrial Park, the Hoa Ninh Industrial Park, and Hoa Lien and Cam Le industrial clusters.

Meanwhile, the commercial and service zone, which will have many financial and commercial services, and duty-free shops, will be an ideal location for commercial and service activities and adjacent to popular tourist destinations in Hoa Vang District like Ba Na - Suoi Mo tourist urban area complex, and Nui Than Tai Hot Springs Park.

“The establishment of the Da Nang Free Trade Zone will help attract international corporations to build centralised shopping centres associated with high-quality services to diversify commercial and service activities, and associated with the central role of the city according to the orientation of the Politburo", Mr. Vu Quang Hung informed.

Director of the municipal Department of Industry and Trade Le Thi Kim Phuong highlighted that the construction of the Da Nang Free Trade Zone was an effective way to shorten the time and cost of entering the world market. With the main characteristics of production and international trade, the Free Trade Zone will create an international working environment, expand production, improve the country's export capacity, and increase foreign exchange earnings.

The formation of the Da Nang Free Trade Zone will contribute to driving the growth of goods through the city's seaports, and developing Da Nang into a hub for seaports in the central region, thereby increasing many positive impacts on the economy.

Specifically, heed will be on intensifying logistics activities, enhancing the added value of the tourism and trade sectors of Viet Nam in general and Da Nang in particular, and creating a chain of high-end service products (tourism, retail sales, entertainment), hereby contributing to luring more tourists to Da Nang as well as the central and central highlands regions.

In addition, a number of indirect benefits from the establishment of the Da Nang Free Trade Zone will include the formation of headquarters of large corporations, scientific and technological innovation, maritime economic development, and talent attraction, bringing great impact on the local economy and society.

Establishment of international financial centre and regional logistics centre

Along with the free trade zone, in Conclusion No. 79-KL/TW, the Politburo also stated that it is necessary for Da Nang to mobilise resources to build an international financial centre on a regional scale.

Currently, the city is carrying out related work at the request of the Steering Committee for the Regional and International Financial Centre Development Project in Viet Nam, including proposing special and preferential policies for the international financial centre on a regional scale in the locality.

Among the specific mechanisms and policies for the development of Da Nang that have been approved by the National Assembly of Viet Nam is a policy of controlled testing of new technological solutions.

Some experts and entrepreneurs have proposed that the city should research and develop mechanisms and policies for controlled testing of blockchain technology - one of the core technologies serving digital asset management activities and financial technology center (Fintech).

Controlled testing of the application of blockchain technology in digital asset management will boost the application of blockchain technology in the development of digital assets, digital government, digital economy and digital society, aimed at soon forming a Fintech Centre in particular and an international financial centre on a regional scale in Da Nang in general (Fintech Centre is a component of the International Financial Centre on a regional scale in the city).

Mr. Nguyen Van Chuong, Manager of the Swiss Entrepreneurship Programme in Da Nang said that the application of blockchain technology in digital asset management and testing Blockchain-related innovation startups was an inevitable trend. This not only creates many utilities and brings many advantages to people and businesses, but also is part of the overall picture of a smart city of Da Nang. At the same time, it is suitable for the technology in the financial sector that Da Nang is aiming for.

Also in the specific mechanisms and policies to develop Da Nang, there is a list of industries, occupations and projects that are given priority to attracting strategic investors with total capital of thousands of billions of VND in each functional area of ​​the Da Nang Free Trade Zone, including a production, trade - service area and logistics centre associated with the Lien Chieu seaport. The recovery of land for constructing a logistics centre is carried out in accordance with the provisions of Article 79 of the Land Law.

This policy has "unleashed" some projects to build technical infrastructure for logistics centres or logistics service zones in the city in recent years so that the city can soon organise auction of land use rights, and select investors for logistics centres. When there are logistics centres, the city will develop specialised logistics services (according to the 3PL, 4PL, 5PL models) with high added value to take full advantage of goods through the local transport areas, contributing to making Da Nang a regional centre for logistics according to Conclusion No. 79-KL/TW.

Dr. Architect Le Trung Hai, Vice President of the Viet Nam Urban Development Planning Association, underlined a must do for the city to soon develop urban framework infrastructure, including synchronously building transportation routes and technical infrastructure in order to connect logistics centres with key projects such as new railway station in Hoa Vang District’s Hoa Son Commune, the North-South expressway east of Hoa Lien - Tuy Loan section, the western ring road, National Highway 14G, National Highway 14B, and urban railway lines (NRT1, LRT6, LRT9, LRT10, LRT11).

He noted that Hoa Vang District was very suitable for applying the urban logistics park model in order to create a harmonious whole in terms of warehouse space and a chain of linked ecological activities for major logistics activities.

Reporting by MAI QUE, HOANG HIEP - Translating by M.DUNG