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Special mechanisms for Da Nang passed

VGP - The National Assembly on Wednesday approved a resolution on several special mechanisms and policies for the development of the central city of Da Nang.

June 26, 2024 5:51 PM GMT+7
Special mechanisms for Da Nang passed- Ảnh 1.

It comprises four chapters with 18 articles, covering the management of finance-state budget, investment, planning, urban areas, resources and environment, attraction of strategic investors to prioritized sectors, establishment of a free-trade area, investment in semiconductor, AI and communications, science and technology management and innovation.

These mechanisms and policies are expected to help the central city fully exploit its strengths while tackling obstacles, unleashing resources, and creating new drivers for its rapid and breakthrough development.

Particularly, the document paves the way for the pilot formation of Da Nang Free Trade Zone, the first of its kind in Viet Nam, Lien Chieu Port and mechanisms which allow the municipal People’s Council to set their own policies for the semiconductor and AI industries.

The free trade zone will aim to attract investment and promote production, trade and services and duty-free business.

The same day, legislators voted to adopt a resolution on piloting some supplementary special mechanisms and policies for the fast and sustainable development of the central province of Nghe An by 2030 with a vision to 2045. 

The aforesaid resolution provides for the management of finance-state budget, investment, urban area and natural resources, and organisation of local apparatus./.