Free trade zones: Breakthrough solutions stimulate logistics growth
On December 1 and 2, 2024, the Ministry of Industry and Trade, in collaboration with the People's Committee of Ba Ria - Vung Tau province, will host the Vietnam Logistics Forum 2024. The theme of this year's forum is "Free Trade Zone - Breakthrough solutions to promote logistics growth".
Minister of Industry and Trade – Nguyen Hong Dien delivers the opening speech. Photo: Ngoc Thach
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As part of the forum, there were two sessions: + The thematic workshop occurred in the afternoon of December 1, focusing on the topic: Free trade zones - opportunities and solutions to realize. The seminar was chaired by Mr. Nguyen Anh Son, Director of the Import-Export Department, Ministry of Industry and Trade. + The plenary session took place on the morning of December 2 with the theme: Free trade zones - a breakthrough solution to promote logistics growth. The forum's plenary session was chaired by Minister of Industry and Trade Nguyen Hong Dien and Secretary of Ba Ria - Vung Tau Provincial Party Committee Pham Viet Thanh. In particular, the plenary session was attended by Prime Minister Pham Minh Chinh. |
Recently, the Party and State have acknowledged the advantages of the free trade zone (FTZ) model and are actively guiding research on free trade zones globally. This type of economic zone can offer numerous benefits to Vietnam, particularly in enhancing logistics services.
At present, Vietnam lacks a free trade zone. Recently, the National Assembly approved a pilot mechanism to establish a free trade zone in Da Nang city. This initiative will serve as a foundation for researching new policies and will pave the way for legalizing regulations on free trade zones throughout the country.
In light of Vietnam's extensive integration into the regional and global economy, as well as its active participation in free trade agreements and advantageous geo-economic positioning, it is crucial to research and propose the early construction, establishment, and development of free trade zones. This initiative will help Vietnam seize opportunities and significantly enhance the logistics service industry, allowing for greater participation in the global logistics supply chain.
To convey this message, gradually change the awareness of authorities and businesses related to the establishment, investment and development of free trade zones to promote trade, investment and international economic integration, the Vietnam Logistics Forum 2024 takes the theme "Free trade zones - Breakthrough solutions to promote logistics growth". This is also the topic of the Vietnam Logistics Report 2024 published at the Forum.
Vietnam Logistics Report 2024 announcement ceremony. Photo: Ngoc Thach.
Prime Minister Pham Minh Chinh gives a speech at the forum. Photo: Ngoc Thach.
Provinces and cities are proposing to the Central Government to implement free trade zones including: Hai Phong, Da Nang and Ba Ria-Vung Tau. In particular, Da Nang City has been approved by the National Assembly to pilot the establishment of Da Nang Free Trade Zone associated with Lien Chieu seaport to pilot mechanisms and policies aimed at attracting investment, finance, trade, tourism and high-quality services.
Binh Duong province also proposed a plan to build two free trade zones in Di An city and Bau Bang district, which was approved by the Prime Minister under Decision No. 790/QD-TTg dated August 3, 2024 on approving the planning of Binh Duong province for the period 2021-2030, with a vision to 2050.
In the Song Than area of Di An City, research and development are currently focused on the Free Trade Zone model, which covers a planning area of 100 hectares and is linked to the An Binh - Song Than international railway station. Additionally, the Bau Bang Free Trade Zone is being developed in conjunction with the railway route that runs through Bau Bang District, contingent upon meeting the required regulations.
The construction of two free trade zones not only brings opportunities for import-export enterprises but also opens up new directions for processing industries, supporting industries, financial services and logistics in Binh Duong.
Binh Duong becomes a satellite center of the Southeast region
By 2030, Binh Duong will become a satellite center of the Southeast region, a place to gather goods and offer logistics services for manufacture in industrial zones and clusters, forming a supply chain of goods from manufacturers to domestic and foreign consumption markets.
Binh Duong aims to accelerate the transition from a traditional industrial growth model to a modern industrial model along with high-quality services, particularly in logistics, through the establishment of two free trade zones. This transition is also linked to the development of the digital economy.
Reported by Ngoc Thach of Trade Management Office
Translated by Ngoc Huynh
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