The Da Nang city People’s Committee has approved an investment plan for the development of the seventh functional area of the Da Nang Free Trade Zone, or FTZ7. The project covers 276ha and has an investment capital of 3.52 trillion VND (140.8 million USD).
The Da Nang Special Economic Zone Authority (DSEZA) said the project would be the last location of the 1,881ha Da Nang Free Trade Zone. Construction is scheduled to start in the fourth quarter of 2027, with full operations planned for 2032.
FTZ7 is designed for manufacturing, information technology, digital industries and logistics, DSEZA said.
The project investor will be approved later, but the investment plan has been sent to the Vietnam–Singapore Industrial Park (VSIP) joint-venture company.
In July, the city approved VSIP’s investment proposal to develop infrastructure for the Dien Tien Industrial Park in southern Da Nang. The project has an investment of 138.15 million USD.
Last week, the city also approved an investment plan by FTZ Kita Trung Nam Company, which includes Kita Group and Trung Nam joint-stock Corporation, to build infrastructure in FTZ6, also known as an International Commercial & Service Gate. The site covers 154ha and has investment of 3.35 trillion VND.
Two investors in FTZ5 and FTZ2 officially began construction in the third quarter of 2025.
The Sai Gon-Da Nang Investment Joint Stock Corporation began construction of Da Nang Free Trade Zone 2, also known as Eagle FTZ, in August. The project covers 75ha and has investment of 1.6 trillion VND.
Last year, local property developer Sun Group began construction of FTZ5 on a 90ha site, with investment of 32 million USD. Two other local investors, Phuong Trang Group and Thanh Binh Phu My JSC, received investment licences to develop FTZ3 and FTZ4.
Vu Quang Hung, head of DSEZA, told Viet Nam News and Law that the Da Nang Free Trade Zone is expected to contribute 17.9% of the city’s gross regional domestic product and create 127,000 jobs by 2040.
The Da Nang Free Trade Zone will have infrastructure links to the under-construction Lien Chieu deep-sea port, the East-West Economic Corridor connecting Myanmar, Thailand, Laos and Vietnam, the Chu Lai seaport and airport system, the Chu Lai Open Economic Zone and a cluster of major industrial zones in Chu Lai.
A total investment of 40 trillion VND will be required to develop the free trade zone into a leading regional economic hub and a strategic growth driver for Vietnam. Da Nang has also recently established an International Financial Centre.
The city’s Finance Department said Da Nang has so far attracted more than 2,000 domestic investment projects worth 916.84 trillion VND, as well as 1,162 foreign direct investment projects with total capital of 11.2 billion USD.
Sources: VietnamPlus / Vietnam News Agency
