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National Assembly grants specific mechanisms to Đà Nẵng with free trade zone to be established

Thursday, 27/06/2024 | 09:40:10 [GMT +7] A  A

The area will include production zones, logistics centres, commercial/service zones and other types of functional areas.

Liên Chiểu Port under construction. VNA/VNS Photo

National Assembly (NA)’s deputies on Wednesday passed a resolution to organise an urban administration model and pilot several specific mechanisms to develop Đà Nẵng City, including allowing the city to establish a free trade zone.

Article 13 of the Resolution states that Đà Nẵng City will establish a free trade zone associated with Liên Chiểu Seaport to pilot mechanisms and policies to attract investment, finance, trade, tourism and high-quality services.

The area will include production zones, logistics centres, commercial/service zones and other types of functional areas.

Areas in the Đà Nẵng Free Trade Zone will be separated from outside areas by stiff fences, ensuring inspection, supervision, customs control and State management activities following the respective field.

Buying, selling and exchanging goods between functional areas of the zone and outside areas is classed as an export and import relationship according to the provisions of Vietnamese law on customs, taxes and export and import.

Liên Chiểu Port project covers an area of 450 hectares and includes eight container terminals for ships of 30,000-200,000 DWT, six general berths for ships of 30,000-100,000 DWT, 1,200m of inland waterway wharves, and six liquid and gas wharves.

Mining capacity is expected to reach 50 million tonnes per year by 2050.

The port’s total investment is more than VNĐ3.4 trillion, of which capital from the central budget for the 2021-25 period is about VNĐ3 trillion, the rest will be sourced from the local budget.

The project started its construction at the end of 2022 and is expected to be completed by 2025.

When Liên Chiểu Port comes into operation, it will reduce the load on the existing Tiên Sa Port (expected to be converted to serve tourist ships), and at the same time reduce transportation pressure in the inner city.

The resolution for the central city was adopted with 452 'yes' votes from 459 deputies participating in the voting, or 93 per cent. It contains four chapters with 18 articles, covering other contents like the management of finance-state budget, investment, planning, urban areas, resources and environment, the attraction of strategic investors to prioritised sectors, investment in semiconductors, AI and communications, science and technology management and innovation.

On the same day, legislators also voted to adopt the resolution on piloting some specially-designed mechanisms and policies to develop the central Nghệ An Province.

With eight articles, it stipulates the management of finance-state budget, investment, urban area and natural resources, and organisation of local apparatus.

The resolution was passed with 453 “yes” votes from 461 deputies participating in the voting, or 93.21 per cent.

Source: Vietnam News