The Da Nang Free Trade Zone (FTZ) was approved by the Prime Minister on 13/6. Spanning approximately 1,881 hectares, it's divided into seven zones across Hai Van Ward, Ba Na Commune, and Hoa Vang Commune. The FTZ focuses on manufacturing, logistics, trade and services, digital technology, information technology, and innovation. Sun Group signed a memorandum of understanding to invest in sub-zones 5, 6, and 7, covering approximately 645 hectares.

Illustration of the investment project for the construction and operation of infrastructure in functional zone 5 within the Da Nang Free Trade Zone. Photo: Sun Group

Illustration of the investment project for the construction and operation of infrastructure in functional zone 5 within the Da Nang Free Trade Zone. Photo: Sun Group

Sub-zone 5, located at the foot of Ba Na mountain, covers 90 hectares. On 26/8, the Da Nang People's Committee approved the investment policy and investor for the commercial service functional zone project within sub-zone 5, making Sun Group the first entity to receive an investment license within the FTZ's sub-zones.

The cluster of projects in sub-zone 5 directly connects to the Sun World Ba Na Hills resort, which experiences an annual 20% growth in visitor numbers. This proximity is expected to benefit the area by attracting tourists, creating a synergistic effect for premium services and accommodations, and increasing visitor spending and length of stay. The free trade zone model is also seen as a key economic driver, mirroring the success of similar models in Singapore, Dubai, and China.

Officials perform the launch ceremony. Photo: Sun Group

Officials perform the launch ceremony. Photo: Sun Group

Nguyen Van Binh, chairman of Sun Group's Central Region, stated that the company will focus on developing complex resorts, ecotourism services, medical tourism, healthcare, and premium accommodations including villas, resorts, entertainment facilities, and duty-free shops. They will also develop a high-end shopping and service center. For healthcare, new drug and healthcare policies will be piloted for the first time nationwide.

Speaking at the event, Luong Nguyen Minh Triet, chairman of the Da Nang People's Committee, described the project launch as a catalyst for the free trade zone. He emphasized the project's strategic importance for the city's socio-economic development. The FTZ will also strengthen Da Nang's role as a major trading gateway for central Vietnam and the entire country. "This project will gradually establish Da Nang as a vital link in the global and Asia-Pacific supply chain," Triet said.

The provincial leadership also acknowledged Sun Group's role in investing in landmark projects for the city and pledged to facilitate the project's smooth implementation.

Rendering of the Ba Na - Suoi Mo urban resort and entertainment complex connected to sub-zone 5 of the free trade zone. Photo: Sun Group

Rendering of the Ba Na - Suoi Mo urban resort and entertainment complex connected to sub-zone 5 of the free trade zone. Photo: Sun Group

Nguyen Van Binh affirmed Sun Group's two-decade partnership with Da Nang's development journey. The launch of this first component of the FTZ further demonstrates this commitment. The company hopes to contribute to Da Nang becoming a pioneer in modern economic institutions, testing new mechanisms and policies to attract investment, boost production, and enhance international integration.

"We are committed to implementing this project decisively to ensure its timely completion and integration with the remaining components of the Free Trade Zone, contributing to a new growth engine for the city," Binh stated.

The FTZ, combined with the International Financial Center, is expected to transform Da Nang into a competitive, modern economic hub, aiming for a per capita income of 8,500 USD by 2050.

Rendering of the residential space within the complex.

Projects in sub-zone 5 of the Da Nang Free Trade Zone will boost the night-time economy.

Bridge and landscape lake with a design inspired by Hoi An.

Rendering of the hotel and entertainment area.

Architectural rendering of the urban-tourism complex at Ba Na.

On the same day, Sun Group broke ground on the Ba Na - Suoi Mo urban resort and entertainment complex with a total phase two investment of 52,000 billion VND. The launch of the Ba Na cable car line 9, the amusement park, urban area, and high-end resort within the complex are expected to create a seamless experience for visitors from the foot to the summit of Ba Na. The complex will also contribute to making Sun World Ba Na Hills a must-see destination in Da Nang.

Hoai Phuong