Major foreign investors eye Danang Free Trade Zone

Multiple major corporations from Japan, South Korea, Singapore, the United States, and China have expressed interest in investing in Danang's Free Trade Zone (FTZ).

The city’s Department of Industry and Trade said 12 foreign and domestic investors have conducted working visits and site surveys, signalling strong interest in Vietnam’s first FTZ model in the central city.

Japan’s Sumitomo Corporation has met with city leaders to explore potential direct investment in the zone. South Korea's Hyundai E&C has proposed studying major components including FTZ infrastructure, a financial center, and a data center.

Meanwhile, Kogi Group, also from South Korea, has shown interest in large-scale materials technology projects, including what it says could become Southeast Asia’s largest oil refinery and storage complex, as well as a production hub for hydrogen-based internal combustion engine parts.

Singaporean investors include Bitdeer, which is exploring high-value goods storage and data-center development; Soilbuild, which is interested in FTZ infrastructure; and ST Telemedia, which has surveyed data-center opportunities.

Chinese investors include the Shandong Overseas Enterprise Development Promotion Association and biotech firm Topgene and Capstone Investment. Their proposals focus on industrial infrastructure serving pharmaceutical manufacturing and surveys of Lien Chieu Port, the FTZ, Danang Hi-Tech Park, Hoa Nhon Industrial Park, and Chu Lai Open Economic Zone.

Vietnam-Belgium joint venture Deep C Industrial Zones has expressed interest in industrial and logistics cooperation. Domestic investor Phat Loi Minerals JSC is considering projects in the Danang Hi-Tech Park, including a complex featuring a financial-commercial center, entertainment-casino facilities, smart urban areas, and a duty-free zone, as well as logistics and digital-industry models.

U.S.-based CT-Strategies has sought to provide advisory services for the FTZ development, while Switzerland’s VinaLog Holding AG has proposed logistics and infrastructure projects.

Danang Free Trade Zone is the country's first, officially established under a prime ministerial decision issued in June 2025.

The FTZ spans 1,881 hectares across Hai Van ward, Ba Na commune, and Hoa Vang commune. It is divided into seven functional areas focusing on manufacturing, logistics, commerce and services, digital technology, IT, and innovation.

Vietnam's leading developer Sun Group on August 27 broke ground on an infrastructure development project at the FTZ, the first project in the zone. The project will develop infrastructure for the Functional Area No. 5 of the zone.

Sun Group plans to develop a unique complex of wellness tourism, eco-tourism, high-end resorts, health and medical retreats, duty-free shopping centers, and premium retail and lifestyle services, offering a luxurious living and shopping experience that meets international standards.

Notably, the project will also pioneer new policies and mechanisms in Vietnam for pharmaceuticals and healthcare services, marking the first national pilot in this domain.

Danang has rolled out a slate of unprecedented incentives to attract investment flows, particularly FDI, into its Free Trade Zone.

The country is preparing to build an international financial center, located in both Ho Chi Minh City and Danang.

On July 1, 2025, Danang and its neighboring province of Quang Nam were merged to form the new Danang.