.jpg "Da Nang breaks ground project worth over 1,568 billion VND in free trade zone")
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DNO - The Da Nang People’s Committee has granted approval for the Vietnam - Singapore Industrial Park Joint Venture Co., Ltd. (VSIP) as the investor for a project to develop and operate infrastructure at functional area No. 7 within the Da Nang Free Trade Zone.
The project had previously received in-principle investment approval under Decision No. 4785/QD-UBND, dated October 17, 2026, issued by the Chairman of the Da Nang People's Committee.
The project has a total investment of VND3,525 billion, of which the investor's equity contribution amounts to VND705 billion, accounting for 20% of the total. The remaining VND2,820 billion, or 80%, is expected to be mobilized from credit institutions and other legal funding sources.
The project is scheduled to begin implementation and investment preparations, including the completion of required procedures, from the fourth quarter of 2026 to the fourth quarter of 2027.
Compensation, site clearance and handover of cleared land are expected to take place from the first quarter of 2027 to the third quarter of 2029.
The basic construction and infrastructure development phase, including the inauguration and operation of facilities, is scheduled to run from the fourth quarter of 2027 to the first quarter of 2032.
Meanwhile, business operations, marketing and investment promotion activities are expected to begin in the fourth quarter of 2028.
Under the decision, the investor is required to disburse the project's entire investment capital within five years from the date of receiving the land, including land with water surface, on site. The investor must also fulfill other obligations applicable to strategic investors in accordance with regulations.
The project will have an operational term of 70 years from the date the competent state authority issues the land lease decision.
