Da Nang’s authorities are building a detailed plan for the city's first international duty-free zone and smart urban area for investors, with construction set to commence soon as the Import-Export Pan Pacific Group (IPPG) has asked the city to allocate land for the project.
A new urban area in Lien Chieu district of Da Nang. (Photo: VNA)
DaNang (VNS/VNA) - Da Nang’s authorities are building a detailedplan for the city's first international duty-free zone and smart urban area forinvestors, with construction set to commence soon as the Import-Export PanPacific Group (IPPG) has asked the city to allocate land for the project.
Directorof the city’s Investment Promotion Agency Huynh Thi Lien Phuong told Vietnam News that the projecthad been finalising the city's first international standard downtownduty-free zone and factory outlet centre.
Liensaid the city would offer the best conditions for the investor tostart the project.
Shesaid the city also planned a downtown free-duty shop at the coastal crown plazain Ngu Hanh Son District to seek investment.
In2019, IPPG proposed the project with an investment of 434 million USD, but anappropriate land area was yet to be offered.
In2018, chairman of the group, Jonathan Hanh Nguyen, urged the city to build athird terminal to ease congestion and design an international standardduty-free zone and recreational area to funnel tourism towards Hoi An, Hueand Da Nang.
Hesaid Da Nang would be a new location for a luxury shopping centre for futuredevelopment and investment attraction.
DaNang has been designing the 1,100ha Hi-Tech Park as Vietnam’s ‘SiliconValley’ to earn revenue of 1.5 billion USD each year with 25,000 jobs and asatellite city of 100,000 people after 2023.
TheUS-based aviation firm Universal Alloy Corporation (UAC) put the SunshineAerospace Components Factory into operation in the first phase in 2020.
TheRepublic of Korea’s LG Electronics also debuted its research and development(R&D) centre – the second in Vietnam – at the Da Nang InformationTechnology Park Tower
CMCCorporation, the second-largest information and communications technology (ICT)group in Vietnam, plans to build the Da Nang-based CMC creative space – adigital hub in the Asia-Pacific region – with an estimated investment of 522million USD.
Todate, Da Nang has 876 foreign direct investment projects worth a total of 3.52billion USD./.
Due to COVID-19, museums around the country have welcomed substantially fewer visitors. Da Nang, however, has introduced a policy of free entry to museums during all of 2021, which has encouraged a number of domestic travellers to visit the central coastal city and improved the local tourism sector.
Da Nang has appreciated the contributions and accompany of foreigners in the city in a tough year of 2020, and hoped to continue to receive more assistance from foreign individuals, organisations and businesses during the recovery process in the city and the central region as a whole, said Chairman of the municipal People’s Committee Le Trung Chinh.
Da Nang on January 22 welcomed a group of more than 700 visitors taking a Meetings, Incentives, Conferences and Exhibitions (MICE) tour, one of the largest groups on such a tour to the central city this year.
Administrative reform outcomes in the central city of Da Nang have helped the city secure foreign investors’ confidence, contributing to attracting more FDI in the locality.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
A new urban area in Lien Chieu district of Da Nang. (Photo: VNA) 
