HCMC – The Ministry of Finance said it is working with Danang authorities to draft a dedicated Government decree setting out special mechanisms and policies for a major land reclamation urban project in Danang Bay, with submission to the Government planned for February.
In a written request to the Danang People’s Committee, the ministry said the decree would provide a legal framework for implementing the project.
Under an assignment from the prime minister, the Ministry of Finance is the lead agency responsible for advising the Government and submitting the decree.
The draft decree is expected to specify special mechanisms related to planning, investment, finance, taxation, land use, natural resources, environmental management, export-import activities, and administrative procedures applicable to the project.
To meet the February deadline under fast-track procedures, the ministry asked Danang authorities to coordinate on drafting and submit the full dossier to the ministry by January 31.
Earlier, in April 2025, the People’s Council of Danang City approved the inclusion of the Danang Bay land reclamation proposal in the city’s 2025 public investment plan.
Initial plans show the project covering about 1,428 hectares and comprising five large artificial islands, with functions including international tourism, free trade activities, innovation, an international financial center, and modern entertainment facilities.
The People’s Committee of Danang City has also set up a working group to study land reclamation ideas, tasked with evaluating proposals and recommending solutions aligned with the city’s economic development, urban planning, and environmental protection goals.
