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| A key traffic route connecting Da Nang city's downtown zone with new designed Free Trade Zone (Photo courtesy of Quoc Vuong) |
Da Nang (VNS/VNA) - The Da Nang city People’s Committee has approved an investment plan for the development of the seventh functional area of the Da Nang Free Trade Zone 7 (FTZ7) on an area of 276ha with a capital 3.52 trillion VND (140.8 million USD).
The Da Nang Special Economic Zone Authority (DSEZA) said the project, the last location of the 1,881ha Da Nang FTZ, would start construction from the fourth quarter of 2027 and begin full operation in 2032.
The FTZ7 has been designed for the development of manufacturing, information technology, digital industries and logistics, DSEZA said.
The investor of the project will be approved later, but the investment plan has been sent to the Vietnam–Singapore Industrial Park (VSIP) joint-venture company.
In July, VSIP’s investment proposal was approved by the city for the development of infrastructure for the Dien Tien Industrial Park, southern Da Nang, with an investment of 138.15 million USD.
Last week, the city also approved an investment plan by FTZ Kita Trung Nam Company (including two members – Kita Group and Trung Nam joint-stock Corporation) – to build infrastructure in the FTZ6, or an International Commercial & Service Gate on 154ha, with an investment of 3.35 trillion VND.
Two investors of FTZ5 and FTZ2 officially kicked off construction in the third quarter of 2025.
The Sai Gon-Da Nang Investment Joint Stock Corporation started the construction of the Da Nang Free Trade Zone 2 (FTZ2), also known as Eagle FTZ, on 75ha with an investment of 1.6 trillion VND in August.
Last year, local property developer Sun Group began construction of the FTZ5 on 90ha with an investment of 32 million USD.
Two other local investors – Phuong Trang Group and Thanh Binh Phu My JSC – had received investment licences to develop the FTZ3 and FTZ4.
Vu Quang Hung, head of DSEZA, told Viet Nam News and Law that the Da Nang FTZ is expected to contribute 17.9% of the city's gross regional domestic product (GRDP) and create 127,000 jobs by 2040.
The Da Nang FTZ will develop infrastructure linked to under-construction Lien Chieu deep-sea port, the East-West Economic Corridor connecting Myanmar, Thailand, Laos and Vietnam, the Chu Lai seaport and airport system, the Chu Lai Open Economic Zone, and a cluster of key industrial zones in Chu Lai.
The FTZ will require a total investment of 40 trillion VND to develop into a leading regional economic hub and a strategic growth driver for Vietnam, alongside the city's newly established International Financial Centre.
The city’s Finance Department reported that Da Nang has so far drawn more than 2,000 domestic investment projects, worth 916.84 trillion VND, and 1,162 foreign direct investment (FDI) projects with total 11.2 billion USD./.
