ĐÀ NẴNG — The central city, in partnership with Sun Group, has launched construction on the fifth functional site of the 1,881-hectare Đà Nẵng Free Trade Zone (FTZ), marking a significant step towards establishing a pioneering model of Việt Nam’s economic power.

This FTZ infrastructure project, covering 90 hectares at the foot of Bà Nà Hills and backed by an investment of VNĐ800 billion (US$32 million), is set to become a hub for eco-tourism, high-quality healthcare services, luxury resorts, prime entertainment, duty-free trade, and international-standard shopping.

Chairman of the city’s People’s Committee Lương Nguyễn Minh Triết said that completing this first phase would accelerate progress across the entire FTZ.

He added that the FTZ’s introduction would position Đà Nẵng as a crucial player in global and Asia-Pacific supply chains.

Nguyễn Văn Bình, chairman of Sun Group’s central region division, emphasised that developing this initial infrastructure would attract investors across multiple sectors, helping to establish Đà Nẵng as an international tourism, trade, and service destination, as well as laying a key foundation for the FTZ’s future growth.

Bình said Sun Group, on the occasion of starting the first project in the FTZ, also kicked off construction of its own Bà Nà-Suối Mơ eco-tourism and urban zone on Bà Nà top-mountain, a new cable-car route number nine, and a complex including a high-end resort, entertainment centre and theatre with an investment of VNĐ52 trillion (US$2 billion).

Last week, Sun Group began construction on Danang Downtown, a premium entertainment and culture park destined to become a new landmark for the coastal city, covering 77 hectares with an investment of nearly VNĐ80 trillion (US$3.2 billion).

The Đà Nẵng FTZ, designed with specialised functional zones including production, logistics, trade and services, digital technology, information technology and innovation hubs, is expected to contribute 17.9 per cent to Đà Nẵng City’s gross regional domestic product (GRDP) and create 127,000 jobs by 2040.

It will require a total investment of VNĐ40 trillion (US$1.6 billion), the city reported.

The city also plans to build the first International Finance Centre as part of its strategic Master Plan for 2030-50.

To boost the development of database projects, IPTP Networks Company also began construction on the AIDC Decenter, a data centre project, in the city’s Hi-Tech Park with an investment of $20 million for the first phase on 28 August.

It is the first AI-ready data centre in Đà Nẵng, serving the city’s Master Plan to become a global centre for semiconductor and AI manufacturing, hi-tech industries, blockchain, and cloud computing.

The city also commenced construction of a social housing project, Ecohome Hòa Hiệp, on 4.2 hectares with an investment of VNĐ2.1 trillion (US$84 million).

The project, invested in by Capital House Group, will supply more than 1,800 apartments by the third quarter of 2029. — VNS