(VOVWORLD) - The Prime Minister’s decision to establish the Da Nang Free Trade Zone was announced at a ceremony on Sunday, marking a significant step in opening new development space not only for Da Nang but also for the entire country.
 The Prime Minister’s decision to establish the Da Nang Free Trade Zone is announced on June 22, 2025. (Photo: VGP/Nguyen Hoang) |
Speaking at the event, Deputy Prime Minister Nguyen Hoa Binh highlighted the strategic importance of Vietnam’s first free trade zone, which is expected to strengthen Vietnam’s connectivity with the global economy and serves as a powerful engine for growth at the city, regional, and national levels.
As part of its ambitious vision, Da Nang will also develop an international financial center, a deep-water port, and five artificial islands inspired by Dubai’s iconic Palm Islands. The free trade zone aims to become a vital node in the global economy, comparable to leading cities such as China’s Shenzhen and the US’s Atlanta.
The zone will feature a wide range of functional areas, including manufacturing, logistics, trade and services, digital technology, IT, innovation, and other key sectors. Over the long term, it is poised to become a critical link in global and Asia-Pacific supply chains.