Vice Chairman of the Da Nang People's Committee Tran Chi Cuong chaired a reception for a group of visitors from the China Centre for Special Economic Zone Research, Shenzhen University, Guangdong Province, on Wednesday.

Vice Chairman of the Da Nang People's Committee Tran Chi Cuong (left) presented a souvenir to Prof. Tao Yitao, Director of China Centre for Special Economic Zone Research cum Director-General of the Belt and Road Research Institute, Shenzhen University. Photo: M.QUE

The city official briefed his guests on the city’s development orientation, with a focus on such economic sectors as high-tech industry, tourism and services.

He also informed that Da Nang was the first locality in Viet Nam to be allowed to pilot a free trade zone under the National Assembly-issued Resolution No. 136/2024/QH15 on organising the urban government model and piloting a number of specific mechanisms and policies for the development of the city.

The free trade zone is expected to have functional areas: production, logistics; trade - services; digital technology industry, innovation; and other types of functional areas according to the provisions of law.

Most notably, Da Nang has been selected to build a regional international financial centre according to Notice No. 47-TB/TW of the Politburo on building a regional and international financial centre in Viet Nam. The central coastal city has been promoting the semiconductor and artificial intelligence sectors by attracting investment, increasing human resource training, preparing infrastructure and implementing policies.

Mr. Cuong voiced his hope that the Chinese delegation will share some experience on the organizational model and planning for the development of the Shenzhen Special Economic Zone, priority areas for development, and special policy mechanisms to ensure the effectiveness of the zone, as well as lessons learned in the process of forming and developing the special economic zone.

The meeting in progress. Photo: M.QUE

At the meeting, members of the China Centre for Special Economic Zone Research showed their keen interest in new development models in the city, including free trade zones and financial centres.

According to Prof. Tao Yitao, Director of China Centre for Special Economic Zone Research cum Director-General of the Belt and Road Research Institute, Shenzhen University, after 10 years of returning to Da Nang, she has seen many positive changes in economic and social infrastructure. This proved that Da Nang has been developing very rapidly. The professor also expressed her support for the city's orientation of developing modern services, high technology, and financial technology.

The Shenzhen Special Economic Zone is China's first special economic zone and was established in May 1980. The most important field in the zone is high technology. Shenzhen City has strengths in information technology and many fields similar to Da Nang's development orientation, which is a favourable condition for the two localities to promote cooperation in the coming time.

Reporting by M. QUE - Translating by M.DUNG, T.TUNG