151ha-duty-free zone to be built in Da Nang

Wednesday, 25/01/2023 19:30
A plan has been submitted by the People’s Committee of Da Nang city for a duty-free zone, according to the Vietnam News Agency.

Da Nang City from the above (Photo: vneconomy.vn) 

The area will cover 151ha at the end of Ba Na – Suoi Mo Road – 30km southwest of the centre and near the Ba Na Hills resort.

The central city’s planning and investment department said the zone, which was sent to the ministry of planning and investment for review, would include a trade complex, with entertainment sites, duty-free shops, a logistics hub, warehouses, healthcare services, an R&D centre, international education centre, medical school and exhibition centre.

It said the project would be completed by 2027.

The department said the free-duty zone would attract investors with land-rent exemptions for three years of construction, and another 11 years land-rent free in the operation of investment projects.

Investors would also enjoy a 10% tax rate for 15 years, a four-year tax exemption and a 50% cut in income tax for the following nine years.

Despite ranking top in the Provincial Sustainable Development Index in 2021, Da Nang is still seeking economic growth and investment in the post-COVID-19 period as the city’s key tourism industry has not yet fully recovered.

The city said the zone would be a magnet for global trade and service providers and developers.

The first downtown duty-free shop was launched at the beach-front Crowne Plaza Da Nang resort in Ngu Hanh Son district at the end of last year.

The city plans to raise more than 7.9 trillion VND (316 million USD) for public investment projects in 2023.

Domestic investment in Binh Duong exceeds FDI figure for first time

Last year witnessed Binh Duong province attracting more domestic investment than foreign direct investment (FDI), indicating a positive sign regarding the southern locality's investment environment, said Radio the Voice of Vietnam.

According to a report released by the provincial People's Committee, last year saw domestic investment capital pour into the province hit VND 96,722 billion, equivalent to nearly US$4 billion, marking an increase of 28.1% compared to 2021.


Infrastructure of industrial zones in Binh Duong province (Photo: baobinhduong.vn) 

Of the figure, there were 6,224 newly-registered enterprises and 1,517 additional units that increased capital to expand their production and business activities.

In 2022, Binh Duong lured US$3.078 billion in investment capital. At present, the province has 4,082 foreign-invested projects with a total capital of US$39.7 billion, thereby holding second position behind Ho Chi Minh City in terms of FDI attraction.

According to municipal leaders, last year marked the first year that Binh Duong attracted more domestic investment than FDI. The diversification of investment resources, coupled with a sharp increase in domestic investment capital, contributed to ameliorating the investment market, thereby reducing dependence on foreign capital sources and stimulating new and sustainable development motivation.

This increase in terms of capital from domestic enterprises participating in the market also helped to promote trade-service activities, boosting production and exports in the process.

Specifically, last year's exports reached a turnover of US$35.7 billion, up 9% compared to 2021, with the trade surplus reaching approximately US$10 billion.

Vo Van Minh, chairman of the Binh Duong provincial People's Committee, attributed the additional investment of businesses into Binh Duong to the locality's willingness to create optimal conditions in which to improve the local business environment.

"Currently, many domestic and foreign investors are coming into Binh Duong. Every year, the province contributes an average of 9% to 10% of Vietnam's export value. Local enterprises have also played a role in spurring the province's economic development, with 90% of social development investment coming from them," Minh said.


A corner of Vietnam-Singapore Industrial Park (VSIP1) in Thuan An city, Binh Duong province. (Photo: VNA) 

As a means of continuing to attract domestic and foreign investment capital, Binh Duong prioritises the land fund for industrial park development, as well as further investment in intra-provincial and inter-regional transport infrastructure.

Furthermore, the southern province will continue to organise exchange activities with business associations in a bid to fully deal with difficulties and problems relating to enterprises and employees, he added.

Ngoc Tran delivers historic win for Vietnam at 2023 Asian U22 Boxing Championship

Young local boxer Nguyen Thi Ngoc Tran enjoyed a wonderful day by beating her Kazakh opponent in the semifinals of the 2023 Asian U22 Boxing Championship to earn a place in the finals for the first time, reported by Radio the Voice of Vietnam.

In the 50kg weight category of the competition currently underway in Thailand, the 19-year-old boxer faced off against her rival Moldir Toikova of Kazakhstan in the semi-final stage.


Vietnamese boxer Nguyen Thi Ngoc Tran (Photo: congly.vn)

After two rounds, the Vietnamese athlete showed great determination and effective attacking tactics, thereby enabling her to defeat her Kazakh opponent with scores of 20-18, 20-18, 20-18, 20-17, and 20-17, according to the judges ringside.

With this impressive result, Tran has become the first Vietnamese boxer to ever qualify for the final round of the Asian U22 Boxing Championship.

“Nguyen Thi Ngoc Tran, a youth world bronze medalist in 2021, also posted a third-round stoppage over Kazakhstan’s Moldir Toikova in light flyweight (50kg) to become Vietnam’s first Asian U22 finalist,” the Asian Boxing Confederation (ASBC) said on its official website.

Tran’s teammates, including Nguyen Thi Hoi in the 52kg category, Nguyen Huyen Tra in the 60kg category, and Truong Minh Thuy Quynh in the 70kg category, also brought home silver medals at the event.

The second edition of the ASBC U22 Men’s and Women’s Asian Boxing Championships is currently taking place in Bangkok, Thailand. The event has attracted the participation of 243 athletes from 20 countries across the region.

Australian newspaper hails Vietnamese Pho

Ben Groundwater, a columnist and feature writer for the Sydney Morning Herald, released published an article hailing Pho, Vietnamese noodle soup, as a classic dish for food lovers worldwide, according to Radio the Voice of Vietnam.

According to Groundwater, people can argue long into the night about the world's best soup. He noted that it may be ramen, laksa, bouillabaisse, caldo verde, or even Moroccan bessara.

“What you can't argue, however, is that Vietnam's most famous soup, pho, is in the conversation,” notes the reporter in his recent article in the Sydney Morning Herald.

“This has to be Vietnam's greatest culinary gift to the world, among many delicious donations,” he added.


Vietnamese Pho (Photo: VOV) 

Groundwater went on to reveal that Pho is a fragrant, subtly powerful dish which is even greater than the sum of its considerable parts.

“Its broth is a gently simmered stock of beef bones with onion, ginger and spices; it arrives pooled around banh pho, or flat rice noodles, and rare beef slices, topped with bean sprouts, fresh herbs, lemon and chili,” he shared.

“The aroma is transcendent. The taste is perfection,” Groundwater stressed.

In the article, the Australian writer also suggests that visitors head to Pho Gia Truyen Bat Dan restaurant on Bat Dan street in Hanoi in order to enjoy an authentic bowl of pho which is similar to its origins, dating back to the inventors of pho in the village of Nam Dinh.

In Ho Chi Minh City, the newspaper recommends that readers pay a visit to Pho Hung, located on 243 Nguyen Trai street in District 1.

Furthermore, for those residing in Sydney, there are plenty of famous pho options based in Cabramatta and Bankstown, although the Australian newspaper revealed that its surprise favourite is Pho Ha Noi Quan located at 346B Illawarra road in Marrickville.

As for Melbourne, Pho Bo Ga Mekong Vietnam on 241 Swanston street in the city’s CBD is a classic for foodies to enjoy./.


Compiled by BTA