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DNO - The Da Nang People's Committee is currently studying the proposal to expand the Da Nang Free Trade Zone (FTZ) southward, including two non-tariff zones within the Chu Lai Open Economic Zone, in an effort to create new growth momentum.
The Chu Lai Open Economic Zone, the country’s first coastal economic zone, has attracted a total of 237 investment projects totaling VND 93.5 trillion (equivalent to USD 3.7 billion) over the past two decades.
It has become a driving force for socio-economic development and a large source of budget revenue for former Quang Nam Province, previously accounting for 55 - 65% of its annual revenue.
According to Mr. Nguyen Hong Quang, Head of the Authority of Quang Nam Economic Zones and Industrial Parks, after the recent administrative merger, Da Nang possesses many new driving forces for development such as the Lien Chieu Port, and the Free Trade Zone in the north.
Meanwhile, the Chu Lai Open Economic Zone in the south has emerged as a bright spot, promising to be a growth driver and contribute to the city’s annual growth target of 11 - 12% in the coming years.
Currently, the Chu Lai Open Economic Zone encompasses 14 industrial parks, of which 7 are operating with 165 implemented projects, creating jobs for about 50,000 local workers.
Notably, the Chu Lai - Truong Hai Automotive Mechanical Industrial Park has attracted 46 secondary projects, with a total investment capital of VND 83 trillion, creating jobs for 13,000 workers with an average monthly income of VND 7 - 8 million per person.
Da Nang leaders determined that the planning of the Chu Lai Open Economic Zone must ensure comprehensiveness and be aligned with the city’s master plan.
Many key projects are being implemented such as the dredging of the Truong Giang River and the construction of new river-crossing bridges; the completion of coastal road No.129 (Vo Chi Cong Road); and connection routes linking expressways and National Highway 1A with Vo Chi Cong road.
In particular, Chu Lai Airport is planned to become a Class 4F international airport with expected capacity of handling 10 million passengers per year. Also, a first-class port will be capable of receiving 30,000DWT ships.
Additionally, the Cua Lo channel dredging project, designed to welcome vessels of up to 50,000 tons, is being actively promoted, providing further impetus for the local development.
The People's Committee of Da Nang is also studying and proposing to add two non-tariff zones in the Chu Lai Open Economic Zone - one linked to the Tam Hoa Port (covering over 744 hectares) and the other adjacent to the Chu Lai Airport (covering over 223 hectares) - to the Da Nang Free Trade Zone (FTZ).
According to the leader of the municipal Department of Industry and Trade, when the Da Nang FTZ expands to the south in combination with these non-tariff zones, it will create new growth space for the city and the central region.
