Investors have expressed interest in the Da Nang Free Trade Zone.

Ms. Phuong said that several interested investors have contacted her to inquire about the policies of the Da Nang Free Trade Zone, but so far no investor has officially submitted an investment registration document.

Ms. Le Thi Kim Phuong, Director of the Department of Industry and Trade of Da Nang City, answered questions at the press conference.

Mr. Tran Chi Cuong, Vice Chairman of the Da Nang City People's Committee, said that currently, there are many free trade zones around the world and in the region, but Vietnam does not yet have one. When Da Nang proposed it, many localities also wanted to create free trade zones like Da Nang, but the central government assigned Da Nang to pilot the project. This demonstrates the trust placed in Da Nang.

According to Mr. Cuong, after being approved by the National Assembly, the important task now is for Da Nang to select locations for the functional zones within the Free Trade Zone. Along with that, careful consideration must be given to locations that ensure a fenced-off area while still promoting the development of the entire city and spreading its influence to other provinces and cities in the region.

Mr. Tran Chi Cuong, Vice Chairman of the Da Nang City People's Committee, spoke about the Free Trade Zone at the press conference.

Mr. Cuong stated that many believe the policies stipulated in Resolution 136/2024 of the National Assembly regarding free trade zones are similar to those of economic zones. He argued that such policies would be difficult to compete with other countries in the region.

According to Mr. Cuong, implementing strong policies takes time. On January 1, 2025, Resolution 136/2024 on the organization of urban government and piloting some specific mechanisms and policies for the development of Da Nang City will come into effect. Between now and then, Da Nang must submit to the Prime Minister a proposal for the establishment of a Free Trade Zone, along with accompanying policies clearly outlining the locations of the functional sub-zones, in order to obtain approval.

In addition, the Da Nang City People's Council will have to consider and approve nearly 30 resolutions related to the procedures for implementing Resolution 136/2024, a very large workload but only for a 5-year pilot period.

“By 2027, Da Nang must have at least 1-2 functional zones within the Free Trade Zone. This will provide a basis for summarizing Resolution 136 and continuing to propose new policies to enable the Da Nang Free Trade Zone to compete with other free trade zones in the region,” Mr. Cuong said.

Among the locations that Da Nang authorities are seeking opinions on for the establishment of functional zones within the Free Trade Zone, a notable proposal involves land reclamation from the sea.

Regarding the issue of land reclamation, Mr. Tran Chi Cuong stated that Da Nang City is surrounded by mountains on three sides and the sea on one side. The city will not sacrifice the environment for economic development. Da Nang must maintain a sustainable environment for development.

"Just one environmental or climate issue will certainly have a significant impact on Da Nang, whether it's from the mountains or the sea... The city has recognized and acknowledged this. Da Nang will not sacrifice the environment for economic development. Many large projects are coming in, potentially generating significant revenue, but we choose those that ensure sustainable development and environmental protection," Mr. Cuong affirmed.