The Vietnamese government has approved the establishment of its first free trade zone.

        Hanoi, June 17 (Xinhua) -- According to Vietnamese media reports on the 16th, the Vietnamese government approved the establishment of Vietnam's first free trade zone in the central municipality of Da Nang on the 13th.
       It is reported that the Da Nang Free Trade Zone covers an area of about 1,881 hectares and encompasses multiple functional areas such as production, logistics, trade services, digital industries, and information technology. The management committees of the Da Nang High - tech Park and various industrial zones have been designated as the institutions directly performing national management functions.
The Ninth Session of the 15th National Assembly of Vietnam voted and passed a resolution on the merger of provincial - level administrative units on the 12th, streamlining the country's 63 provincial - level administrative units to 34. Among them, Da Nang City will be merged with Quang Nam Province, and the new Da Nang City will cover an area of more than 11,000 square kilometers.
According to the Vietnam Voice Radio, the selection of Da Nang to establish a free trade zone is the result of years of planning and meticulous preparation. The Da Nang Free Trade Zone is not only an open economic model but also expected to serve as an institutional laboratory and a testing ground for new policies in investment, taxation, customs, technology, finance, human resources, and digital transformation. It is expected to become a new growth pole for the Central Highlands region of Vietnam and even the whole country.