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Wednesday, June 19, 2024

Gov’t plans to establish int’l financial center in Danang

The Saigon Times

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HCMC – The Ministry of Planning and Investment (MPI) is soliciting feedback on a proposal to establish an offshore international financial center in the central city of Danang.

The center would enjoy competitive taxes and regulatory policies.

According to the ministry, this initiative would generate new opportunities and momentum for socioeconomic development, enabling Danang to engage more effectively in the global economic value chain.

The proposal also mentions setting up a free trade zone (FTZ) linked to Lien Chieu Port, designed to facilitate Danang’s economic advancement.

The MPI expected the FTZ to attract significant foreign investment, enhance trade and tourism activities, and reinforce Danang’s status as a regional hub.

The Government plans to present a draft resolution to the National Assembly for approval, replacing Resolution 119/2020/QH14, which focused on Danang’s urban governance and economic schemes ratified in 2020.

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