Da Nang to build duty-free zone

The People’s Committee of Da Nang city has submitted a plan for a duty-free zone.

Da Nang to build duty-free zone hinh anh 1

A corner of Ba Na hill (Photo: VNA)

The People’s Committee of Da Nang city has submitted a plan for a duty-free zone.

The area will cover 151ha at the end of Ba Na – Suoi Mo Road – 30km southwest of the centre and near the Ba Na Hills resort.

The central city’s planning and investment department said the zone, which was sent to the ministry of planning and investment for review, would include a trade complex, with entertainment sites, duty-free shops, a logistics hub, warehouses, healthcare services, an R&D centre, international education centre, medical school and exhibition centre.

It said the project would be completed by 2027.

The department said the free-duty zone would attract investors with land-rent exemptions for three years of construction, and another 11 years land-rent free in the operation of investment projects.

Investors would also enjoy a 10% tax rate for 15 years, a four-year tax exemption and a 50% cut in income tax for the following nine years.

Despite ranking top in the Provincial Sustainable Development Index in 2021, Da Nang is still seeking economic growth and investment in the post-COVID-19 period as the city’s key tourism industry has not yet fully recovered.

The city said the zone would be a magnet for global trade and service providers and developers.

The first downtown duty-free shop was launched at the beach-front Crowne Plaza Da Nang resort in Ngu Hanh Son district at the end of last year.

The city plans to raise more than 7.9 trillion VND (316 million USD) for public investment projects in 2023./.
Source: VNS
en.vietnamplus.vn

Related News

Da Nang revives FDI inflow

Da Nang revives FDI inflow

The central beach city of Da Nang is taking measures to revive the foreign direct investment (FDI) flow with a view to attracting 7 billion USD in this capital by 2030.
VND 13,533 billion of tax exempted and reduced

VND 13,533 billion of tax exempted and reduced

VCN – According to the statistics of the Import and Export Duty Department under the General Department of Vietnam Customs, in the first nine months of the year, the Customs sector has effectively provided tax incentive policies for imported products for Covid-19 control and prevention and reduced VND 13,533 billion of VAT.
Da Nang Customs supports businesses to comply with law

Da Nang Customs supports businesses to comply with law

VCN - With the goal of improving the compliance level of enterprises, aiming for voluntary compliance, the Program "Facilitating and supporting businesses to comply with customs laws" of Da Nang Customs Department has been increasingly effective, recognized and appreciated by the business community.
Da Nang: taxable goods records strong growth

Da Nang: taxable goods records strong growth

VCN - The pandemic situation is under control, production and business activities of enterprises have returned to growth and in the area managed by Da Nang Customs Department, many commodities saw strong growth in both turnover and tax amount.

Latest News

Saigontex 2023 attracts over 1,300 domestic, foreign businesses

Saigontex 2023 attracts over 1,300 domestic, foreign businesses

More than 1,300 businesses from 21 countries and territories are participating in the Vietnam Textile & Garment Industry Expo (Saigontex) 2023, the leading exhibition of the industry in Southeast Asia, which opened in Ho Chi Minh City on April 5.
Mong Cai international border gate sees strong recovery

Mong Cai international border gate sees strong recovery

The Mong Cai international border gate in the northern province of Quang Ninh has become vibrant as before the pandemic, showing a positive sign in the economic recovery of Mong Cai city in particular and Quang Ninh province in general.
Vietnam a potential market for French businesses, investors: experts

Vietnam a potential market for French businesses, investors: experts

French businesses should innovate their approach, enhance their understanding of culture and language, and make changes to adapt to Vietnam's transitioning economy in order to expand their market share and boost investment in the Southeast Asian nation, said Dr. Jean-Philippe Eglinger, the founder of the Viet Phap Strategies.
Import and export turnover across Cao Bang prospers but still exists difficulties

Import and export turnover across Cao Bang prospers but still exists difficulties

VCN – After China resumes trade, Cao Bang province's import and export activities see remarkable prosperity.

More News

Cashew industry strives to "get on the shelves of world supermarkets"

Cashew industry strives to "get on the shelves of world supermarkets"

VCN - Although holding the number one position in the world in exporting cashew kernels for many years, the position of Vietnam's cashew industry in the world cashew value chain is very small because it mainly exports kernels with preliminary treatment.
HCM City’s industrial production index down 0.9% in Q1

HCM City’s industrial production index down 0.9% in Q1

Ho Chi Minh City’s Index of Industrial Production (IIP) in the first quarter of 2023 declined by 0.9% compared to the same period last year, the municipal Department of Industry and Trade reported at a press conference on April 3.
Fisheries exports estimated at 1.85 billion USD in Q1

Fisheries exports estimated at 1.85 billion USD in Q1

Fisheries export value was estimated at 1.85 billion USD in the first quarter (Q1) of this year, a fall of 27% compared to the same period last year due to lower consumption and import demand under the impacts of inflation and economic recession, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Quang Ninh aims to attract quality FDI inflows

Quang Ninh aims to attract quality FDI inflows

The northern coastal province of Quang Ninh has strengthened measures to attract quality foreign direct investment (FDI) inflows, especially from big names in the processing-manufacturing industry.
Exports face many difficulties

Exports face many difficulties

VCN - In the first months of 2023, the absence of export orders plus the downward trend in commodity prices have slowed down trade activities.
Manufacturing enterprises increase their competitiveness thanks to digital transformation

Manufacturing enterprises increase their competitiveness thanks to digital transformation

VCN - Overcoming difficulties in 2023 requires manufacturing enterprises to self-improve and innovate. Digital technology is one of the effective solutions to help manufacturing businesses grow and compete.
32nd Việt Nam Expo promises to boost business linkages

32nd Việt Nam Expo promises to boost business linkages

The 32nd Việt Nam International Exhibition (Vietnam Expo) will take place in Hà Nội from April 5-8 with the participation of more than 500 domestic and foreign enterprieses, the event’s organisers have announced.
Prevention of price risks before news that Indonesia increases rice imports in reserve

Prevention of price risks before news that Indonesia increases rice imports in reserve

VCN - In response to demand signals from key markets such as Indonesia and the Philippines, the Import-Export Department (Ministry of Industry and Trade) suggested that rice exporters actively monitor the market situation and fully assess the opportunities as well as risks to build a trading plan.
Japanese investors highly appreciate Vietnamese property market

Japanese investors highly appreciate Vietnamese property market

Representatives from around 180 Japanese businesses and investors on April 1 attended a Tokyo workshop on Vietnamese real estate, during which many of them highly appreciated the potential of Vietnam’s property market.
Read More

Your care

The system has not recorded your reading habits.

Please Login/Register so that the system can provide articles according to your reading needs.

Latest Most read
Saigontex 2023 attracts over 1,300 domestic, foreign businesses

Saigontex 2023 attracts over 1,300 domestic, foreign businesses

More than 1,300 businesses from 21 countries and territories are participating in the Vietnam Textile & Garment Industry Expo (Saigontex) 2023, the leading exhibition of the industry in Southeast Asia, which opened in Ho Chi Minh City on April 5.
Mong Cai international border gate sees strong recovery

Mong Cai international border gate sees strong recovery

The Mong Cai international border gate in the northern province of Quang Ninh has become vibrant as before the pandemic, showing a positive sign in the economic recovery of Mong Cai city in particular and Quang Ninh province in general.
Vietnam a potential market for French businesses, investors: experts

Vietnam a potential market for French businesses, investors: experts

French businesses should innovate their approach, enhance their understanding of culture and language, and make changes to adapt to Vietnam's transitioning economy in order to expand their market share and boost investment in the Southeast Asian nation, said Dr. Jean-Philippe Eglinger, the founder of the Viet Phap Strategies.
Import and export turnover across Cao Bang prospers but still exists difficulties

Import and export turnover across Cao Bang prospers but still exists difficulties

VCN – After China resumes trade, Cao Bang province's import and export activities see remarkable prosperity.
Cashew industry strives to "get on the shelves of world supermarkets"

Cashew industry strives to "get on the shelves of world supermarkets"

VCN - Looking back to 2022, while the export turnover of the cashew industry reached US $ 3.08 billion, the import turnover of raw cashews consumed US $ 2.678 billion.
Mobile Version