Dong Nai to invest in free trade zone

(ĐN)- Dong Nai recently held a conference to discuss the establishment of a Free Trade Zone (FTZ) in the province. According to economic experts and consultants, Dong Nai possesses key advantages in land availability, strategic location, workforce, infrastructure, and business environment, making it an ideal location for developing an FTZ. The creation of this zone is expected to boost trade, attract investment, generate employment, and provide businesses with superior operational mechanisms.

FTZs are a widely adopted economic model in many countries, particularly in middle-income and developing nations. These zones help attract foreign direct investment (FDI), facilitate technology transfer, create high-income jobs, and drive economic growth at both local and regional levels.

Dong Nai is positioned as a center for aviation economy, high-tech industries, logistics, and supporting services for the aviation sector. It is also a key transportation hub of the Southern Economic Region, directly connected to Phước An Port (Nhon Trach District), Cai Mep Port (Ba Ria - Vung Tau), and other major economic zones. With 37 established industrial parks—32 of which are currently operational—the province has a strong industrial foundation. Establishing an FTZ connecting Long Thanh International Airport and Phuoc An Port is expected to accelerate economic development in Dong Nai and the Southeastern region, further strengthening its regional and international standing.

Economic experts have proposed focusing on eight key industries and services within Dong Nai’s FTZ including pharmaceutical and chemical production, automotive and aerospace parts manufacturing and assembly, industrial and consumer electronics, semiconductor, AI, and IoT products, high-quality agricultural processing for export, aircraft maintenance, E-commerce, and express delivery services.

Most products from these sectors will be primarily for export.

Vietnam has yet to establish a concrete model for FTZs, but several neighboring countries have successfully implemented them. South Korea is near Incheon International Airport, an FTZ integrates modern warehousing, duty-free trading areas, and production facilities for processing goods. Singapore is the country has optimized its supply chain by integrating its FTZ with Changi Airport, seaports, and industrial zones, utilizing high-tech solutions for management and operations to gain a competitive edge.

By swiftly investing in an FTZ, Dong Nai can capitalize on the advantages of Long Thanh Airport and Phuoc An Port, driving growth in trade, services, imports, and exports while significantly increasing foreign investment. This initiative is projected to push the province’s economic growth beyond 10% per year.

Reported by U.N