Đà Nẵng breaks ground on $240 million industrial park

Đà Nẵng breaks ground on $240 million industrial park

A key feature of the project is its integration with the Phú Mỹ 3 Đà Nẵng Industrial Park in the Đà Nẵng Free Trade Zone.

Machines at the site of the ground-breaking ceremony. — VNA/VNS Photo

Đà Nẵng has broken ground on the Hòa Ninh Industrial Park, a VNĐ6.2 trillion (US$240 million) project expected to become a new industrial growth hub, expand the city's investment space and attract high-quality foreign direct investment (FDI).

The groundbreaking ceremony took place on Wednesday in Bà Nà Commune. Covering 400ha, the project has been approved by the Prime Minister and is being developed by Thanh Binh Phu My JSC. It is planned as a modern, multi-sector eco-industrial park with a 50-year operating period.

Speaking at the ceremony, Hồ Kỳ Minh, permanent vice chairman of the Đà Nẵng People's Committee, said developing next-generation industrial parks is a strategic priority for the city as it seeks to implement its long-term socio-economic development strategy.

He said the launch of Hòa Ninh Industrial Park reflected both the investor's commitment and the city's efforts to complete planning, land and environmental procedures, enabling the project to move forward.

The industrial park occupies a strategic location about 10km from Liên Chiểu Deep-Sea Port and 15km from Đà Nẵng International Airport. It also lies near the Đà Nẵng Hi-Tech Park and the city's planned International Financial Centre, creating favourable conditions to connect industrial production, logistics and supporting services.

A key feature of the project is its integration with the Phú Mỹ 3 Đà Nẵng Industrial Park in the Đà Nẵng Free Trade Zone. Together, the two developments will cover more than 735ha with combined investment exceeding VNĐ11.5 trillion.

City authorities expect the projects to create a 'dual growth engine', establishing an integrated value chain spanning manufacturing, processing, warehousing, logistics and international trade while strengthening Đà Nẵng's ability to attract high-value investment.

Cho Ju Yeoun, Director of the Korea Trade-Investment Promotion Agency (KOTRA) in Đà Nẵng, said Hòa Ninh Industrial Park would become an important component of the city's industrial infrastructure.

She said its connectivity to Liên Chiểu Deep-Sea Port, Đà Nẵng International Airport, the high-tech park and the free trade zone, together with its linkage to Phú Mỹ 3 Industrial Park, would create an integrated manufacturing and logistics ecosystem, offering an attractive destination for Korean and other international investors.

The project is also being developed as an eco-industrial park linked to the Liên Chiểu Liquid and Gas Port Complex and the first phase of the 1,500MW Hòa Ninh LNG Power Plant, which is expected to begin operations from 2030.

It will adopt an industrial symbiosis model to optimise resource use, reduce emissions and meet international environmental, social and governance (ESG) standards.

Once operational, Hòa Ninh Industrial Park is expected to create more than 12,000 direct jobs while boosting industrial production and local budget revenues. Together with the FTZ Phú Mỹ 3 Industrial Park, it is expected to form a large-scale industrial, logistics and trade ecosystem in northwestern Đà Nẵng.

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