During his ongoing business trip in Singapore, Da Nang Party Committee Secretary Nguyen Van Quang worked with the Lobb Heng Group on Tuesday.

Leaders of Da Nang and Lobb Heng Group.

Secretary Quang emphasised that Da Nang, and Viet Nam as a whole, are focusing on researching new development models to realise the goal of economic growth, especially in the fields of international financial centres, free trade zones and green industrial parks.

The leaders of Lobb Heng Group expressed their impression of Da Nang's development as well as its strategic orientation in becoming a hub for finance, high-tech manufacturing, logistics and high-quality services in Viet Nam and the region.

They also stated that Da Nang has great potential to develop free trade zones, form logistics centres, promote international trade, and create a foundation for connecting with the development of an international financial centre. Additionally, Da Nang possesses many favorable conditions for developing warehouses, and becoming a transit point for raw materials serving production activities.

Moreover, the application of fast customs clearance mechanisms in free trade zones and the development of a transit centre associated with Lien Chieu Port are also considered important factors for Da Nang to maximise the potential of the logistics and international trade sectors in the coming time.

The development of a commodity exchange not only facilitates commodity trading but also contributes to providing resources for major projects in the city and the region in a variety of fields.

Secretary of the Da Nang Party Committee Nguyen Van Quang (right) and representatives of Lobb Heng Group.

In addition, leaders of Da Nang and Lobb Heng Group discussed in detail the trading of raw materials for high-tech production, especially in the field of aircraft component manufacturing.

In the afternoon of the same day, the Da Nang delegation visited the Intellectual Property Office of Singapore (IPOS). Standing Vice Chairman of the municipal People's Committee Ho Ky Minh said that in recent times, Da Nang has implemented strategic changes with a more sustainable approach to urban development.

Aside from maximising tourism strengths, the city has identified high-tech industry, in which information technology with semiconductors and artificial intelligence is one of the key areas.

Da Nang visitors, along with representatives of IPOS and a number of Singapore's innovative startups, posing for a group photo.

In November 2024, the Vietnamese Politburo approved the policy of establishing international financial centres in Da Nang and Ho Chi Minh City, considered as driving forces for the city’s breakthrough development in the years ahead. Therefore, intellectual property protection is an important content to ensure the sustainable development of the abovementioned models.

Vice Chairman Minh asked IPOS to share experiences in implementing intellectual property protection activities during the operations of international financial centres and free trade zones.

An IPOS representative said that the Singaporean government strived to support businesses in protecting, managing and commercialising intellectual property rights. Singapore moved up a notch to 4^th in its ranking in the Global Innovation Index (GII) in 2024. The country ranked second overall in the International Property Rights Index 2024.

Standing Vice Chairman of the Da Nang People's Committee Ho Ky Minh (right) and a leader of IPOS.

The Singapore government has launched the Singapore Intellectual Property Strategy 2030 (SIPS 2030) that supports enterprises and the wider innovation community. It will contribute to Singapore’s position as a global hub for intellectual property activities and transactions, attracting and developing innovation startups; and developing good jobs and skills in the field of intellectual property.

During the meeting, the two sides discussed mechanisms for resolving intellectual property disputes. The IPOS representative pledged to continue assisting Da Nang with developing policies and solutions to improve the effectiveness of management, protection and exploitation of intellectual property rights.

The two sides agreed to strengthen cooperation in sharing practical experiences in developing the intellectual property ecosystem, as well as support businesses in commercialising inventions and resolving disputes effectively based on the application of digital technology.

Reporting by Working delegation - Translating by M.DUNG, PTRA