ĐÀ NẴNG — The central city of Đà Nẵng is moving forward with major development plans for the Đà Nẵng Free Trade Zone (FTZ), approving a resettlement project covering 55.86ha in Bà Nà Commune with an investment of VNĐ1.544 trillion (US$61.76 million) for 2025-29.

The city's authorities said the resettlement scheme will provide modern urban areas for households giving up land for the FTZ expansion, featuring full technical infrastructure and a wastewater treatment system.

In parallel, authorities have approved an upgrading and expansion project for the four-lane, 5.04km Nam Hải Vân Ring Road, linking Hòa Liên junction on the North-South Expressway with Liên Chiểu Port’s coastal ring road. The project carries an investment of VNĐ1.965 trillion ($78.6 million).

Đà Nẵng has also finalised an investment promotion plan to attract strategic investors to develop infrastructure across the 1,881-hectare FTZ, which comprises seven specialised functional zones including production, logistics, trade and services, digital technology, information technology and innovation hubs.

Property developer Sun Group has already begun work on the fifth functional site, a 90ha hub at the foot of Bà Nà Hills for eco-tourism, high-quality health care, luxury resorts, prime entertainment, duty-free trade and international-standard shopping, with an investment of VNĐ800 billion ($32 million).

Meanwhile, a local Sài Gòn–Đà Nẵng company is accelerating construction on the second functional site, a logistics centre at the foot of the Hải Vân Pass.

The FTZ is projected to contribute 17.9 per cent to Đà Nẵng’s gross regional domestic product (GRDP) and generate 127,000 jobs by 2040, requiring total investment of VNĐ40 trillion ($1.6 billion).

Plans are also underway to expand the FTZ southwards, merging with the current Chu Lai Open Economic Zone in the neighbouring province of Quảng Nam in the near future.

To support this growth, the city is seeking strategic investors willing to commit between VNĐ2 trillion ($80 million) and VNĐ8 trillion ($320 million) to projects within the FTZ. — VNS