Photo: Gardel Bertrand/Hemis/AFP
Eurasia
27/04/2025 08:00
Nguyen Van Quang, Secretary of the Da Nang Party Committee, on April 25 said the proposed urban development would extend the city's coastline by 48 kilometers, transforming the area into a world-class financial, commercial and service hub.
"The urban design might resemble the famous marine urban development seen in Dubai," Quang said, emphasizing the project's potential to significantly boost Da Nang's economy and position it prominently on the global stage.
The initiative, which has gained strong support from General Party Secretary To Lam and the Vietnamese government, aims to make Da Nang the country's first "sea city," with artificial islands serving as its centerpiece.
Alongside this landmark project, the National Assembly is expected to discuss a resolution to establish international financial centers in both Ho Chi Minh City and Da Nang. According to Quang, Da Nang's favorable location, attractive living environment, strong security, and its potential to attract global investors, including international billionaires, make it particularly suited for such a development.
The city is also exploring the establishment of a free trade zone, intended to complement the financial center model. Officials believe this free trade zone could help draw substantial investments, foster sustainable economic growth, generate employment, and attract a highly skilled international workforce.
Authorities are currently assessing various investment methods and ensuring the project's feasibility, aiming for it to serve as a catalyst for Da Nang's socio-economic development for decades to come.
