Vietnam targets up to 10 free trade zones by 2045: govt

The target was announced at a meeting chaired by Prime Minister Pham Minh Chinh, where the finance ministry presented its proposal that sets out legal grounds, selection criteria and incentive policies for the zones.

Vietnam plans to establish free trade zones in Da Nang, Hai Phong and Ho Chi Minh City in 2026, the ministry said. 

It aims to expand to six to eight zones by 2030 and reach eight to ten internationally competitive zones by 2045 that could contribute 15–20 percent of the country's gross domestic product (GDP).

The ministry said more than 7,000 special economic and free trade zones are operating worldwide and have become multi-purpose hubs for industry, services, finance and technology. 

Vietnam has no unified legal framework for such zones, although parliament has approved pilot mechanisms for Da Nang and Hai Phong.

Chinh said the government must clearly define free trade zones and distinguish them from international trade centers.

He called for policy packages that are competitive, feasible and do not distort the investment environment. 

He said pilot sites must be regionally balanced and supported by planning, infrastructure, technology deployment and workforce development.

At a separate session on the Dung Quat oil refining and energy center, Chinh said the Dung Quat refinery is operating effectively and has approval for a second-phase expansion. 

He asked ministries, local authorities and state oil company Petrovietnam to refine proposed incentive schemes and identify additional measures to accelerate development while ensuring energy security and long-term industrial growth.