On October 13, the Da Nang People's Committee issued a decision approving the investment policy and investor for the functional-zone infrastructure project at Position No. 6 in the Da Nang Free Trade Zone, with total investment of over 3,354 billion VND. The investor is FTZ KITA Trung Nam Co., Ltd, and the project, named International Commercial & Service Gateway, covers about 154 hectares in Bà Nà commune. Equity contribution is 800 billion VND (nearly 24%), with over 2,554 billion VND to be mobilized. The project will operate for 70 years from the land lease decision, with full completion scheduled for Q4/2029 and final settlement in 2030. Under National Assembly resolutions, the project may be considered for exemption from land rent for the full lease term, except for housing and commercial-service land; failure to meet commitments could lead to project termination and land recovery.
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Original headline: Đà Nẵng chấp thuận đầu tư hơn 3.354 tỷ đồng vào vị trí số 6 Khu thương mại tự do
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On 13/10, the Da Nang People's Committee approved the investment policy for a project to build and operate infrastructure in functional zone No. 6 of the Da Nang Free Trade Zone, covering about 154 hectares in Ba Na commune with total investment of over 3,350 billion dong. The project will run for 70 years from the date the State decides on the land lease, and will lease land with ready infrastructure as well as commercial and service facilities. FTZ KITA Trung Nam Co., Ltd. has been approved as the investor and must maintain its financial capacity, meet its schedule, and connect data with the smart Free Trade Zone system of the Da Nang High-Tech Park and Industrial Zones Management Board. Investors that breach their commitments or fail to meet conditions will be dealt with according to law.
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