Vietnam on the rise: free trade zones conquer the south!

Vietnam on the rise: free trade zones conquer the south!

The Phuoc An port area as well as the port logistics in Nhon Trach district have great potential for the development of a free trade zone, such as vietnam.vn reported. These regions in southeast Vietnam, including Ho Chi Minh City, Ba Ria-Vung Tau, Dong Nai and Binh Duong, are implementing various industrial park development measures to meet the demands of the global market.

According to the 2024 Logistics Report of the Ministry of Industry and Trade, the commercial zone model is recognized worldwide but is still relatively new in Vietnam. The country is gradually developing smaller forms of commercial areas, such as free trade and duty-free zones, to improve economic conditions. Experts emphasize the need to create suitable foundations for this development.

Development of commercial areas

Mr. Tran Thoang of CT Strategies highlights that International Trade Establishment Zones (ETC) can promote economic growth and counter trade protectionism. These economic zones position Vietnam as an attractive destination for investors and support the development of trade, finance, innovation and logistics. Mr. Tran Thanh Hai from the Ministry of Industry and Trade emphasized Vietnam's advantages, especially in the field of logistics services.

For effective development of trade zones, places with seaports and airports should include these zones in their socio-economic planning. Danang is already the first location to test the development of e-commerce zones. Approvals for the construction of such projects and e-commerce zones have been granted in several provinces to further promote the new model approach.

Competition between provinces

Provinces and cities in southeastern Vietnam are competing to develop commercial areas. An important meeting was held on May 14 in Ba Ria – Vung Tau to explore the prospects of a trade zone around the Cai Mep Ha seaport. This planned commercial zone is intended to act as a pilot model for innovative political institutions and competitive incentives.

Ho Chi Minh City already has a trade zone connected to the international transit port of Can Gio. Binh Duong plans to build two more commercial centers in Di An and Bau Bang, which were approved by the prime minister. The An Binh industrial estate in Di An will cover an area of ​​100 hectares and will be connected via the An Binh – Song Than railway line.

The potential of free trade zones

Dong Nai is currently studying six areas for the construction of industrial parks, including the Can – Tan Hiep Industrial Park and a logistics area in Long Thanh. Dong Nai People's Committee Chairman Vo Tan Duc is cooperating with Lien Thai Binh Duong Import Export Company Limited to promote investment in the commercial zone. Properties near Long Thanh Airport are being considered as possible investment locations.

Free trade zones play a central role in international trade, enable economic exchange without bureaucratic hurdles and offer companies significant advantages such as lower costs and faster processes. In these geographical areas, goods can be imported, stored, processed and exported duty-free. These zones create investment incentives for international companies and promote more efficient economic development, especially in structurally weak regions such as dagoexpress.com explained.