Special mechanisms and policies proposed to further develop Da Nang

Central Da Nang city needs to define its own special mechanisms and policies to fully exploit its strengths while tackling obstacles, unleashing resources, and creating new drivers for rapid and breakthrough development, according to Minister of Planning and Investment Nguyen Chi Dung.

Addressing a meeting on February 26 to discuss the building of a resolution on special mechanisms and policies for the development of Da Nang, Mr. Dung suggested three issues that should be taken into consideration, including the construction of regional financial centers in the city, the development of a semiconductor industry, and the development of Lien Chieu Port.

Da Nang has proposed 27 policies, including six new ones and the remainder similar to those applied in other localities, according to Chairman of the Da Nang City People’s Committee Le Trung Chinh.

Of the six new policies, Da Nang seeks permission to pilot a free trade zone associated with Lien Chieu Port and Da Nang International Airport; to add projects on technical infrastructure; and to implement special mechanisms on employment, salaries, income tax exemptions, and financial support for the semiconductor industry and AI.

The city also proposed allowing the municipal People’s Council to decide on the pilot of blockchain or support for technical infrastructure development projects in industrial clusters.

It also asked for permission to apply certain mechanisms and policies that are available to Ho Chi Minh City, such as particular planning adjustments, personal income tax exemptions for experts, scientists, and people with talent, and extra payments for State employees and corporate income tax exemptions for those in prioritized areas.