Da Nang City in central Vietnam has launched the Hoa Ninh industrial park project, marking the city’s first new industrial park in over two decades. 

Spanning 400 hectares of land in Hoa Vang District, the industrial park project will carry a price tag of more than VND 6.2 trillion (US$243 million).

The municipal People’s Committee on Tuesday held a ceremony to announce the launch of the project.

Thanh Binh Phu My Joint Stock Company is the investor of the project, which was approved by the prime minister on December 31, 2024.

The construction is set to be completed within 42 months from the date of land handover.

Speaking at the ceremony, Le Trung Chinh, chairman of the municipal administration, said that the industrial park is not only a large-scale project but also a testament to the city’s effort in attracting investment, promoting sustainable industrial growth, and providing momentum for economic development.

With an area of 400 hectares, the Hoa Ninh industrial park project is expected to become one of the most modern industrial zones in central Vietnam, attracting investors active in hi-tech and eco-friendly industries, the leader underscored.

The project is also anticipated to generate thousands of jobs for local residents and contribute to the realization of Da Nang’s strategy to develop industrial and hi-tech zones, as well as free trade areas in the northwestern part of the city.

“I hope the project will drive up the supply chain, spur broader growth, and create positive influence on other sectors such as trade, service, logistics, tourism, and aviation," Chinh said.

“This is also a crucial step to turn Da Nang into a hub for economics, industry, and commerce in central Vietnam and the whole country."

The municipal administration is committed to creating a favorable investment climate that allows investors to confidently implement their projects. 

Nguyen Thi Thao Nhi, general director of Thanh Binh Phu My Joint Stock Company, stated that the company would focus on developing both hard and soft infrastructure for the park synchronously.

The Hoa Ninh Industrial Park project is the latest addition to Da Nang’s industrial landscape since the establishment of Hoa Cam Industrial Park in 2003. 

This new park will mark a key turning point in the city’s industrial development progress.

The leader of the city affirmed that the project is a key milestone in the city’s development, aiming to transform it into an attractive destination for investment, manufacturing, and sustainable development.

The Hoa Ninh Industrial Park project is located 10 kilometers from Lien Chieu Port and is near various technology and industrial parks, positioning it well to attract investors.

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