Dong Nai proposes development of $16 bln free trade zone
The southern province of Dong Nai has unveiled a plan to develop a $16 billion free trade zone to capitalize on the upcoming Long Thanh International Airport.
Construction of Long Thanh International Airport is underway. Photo courtesy of VNA.
The project’s capital structure includes 5% public funding, 40% from domestic private investors, and the remaining 55% from foreign direct investment (FDI).
At a seminar held on Friday, Vice Chairman of the provincial People’s Committee Ho Van Ha said the zone, spanning 8,500 hectares, will feature a 3,095-hectare production area, a 2,244-hectare logistics hub, a 1,500-hectare finance-commerce-service zone, and and a 1,419-hectare area dedicated to research, innovation, IT, and digital economy.
The free trade zone will be built into a complex integrated model designed to maximize advantages from Long Thanh International Airport, Phuoc An Port, and the extensive industrial park network across the province, the southeastern region, and International Financial Center in Ho Chi Minh City.
Eighteen key sectors will be prioritized in the zone, including digital logistics, electronics, mechanical engineering, pharmaceuticals, food processing, IT, and human resources training, according to Ha.
The proposal will be submitted to the Prime Minister for consideration and approval in July.
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