Vietnam moves deeper into global supply chains

This June, Da Nang was officially designated as a free trade zone (FTZ) under Decision No. 1142/QD-TTg issued by the Prime Minister. This development marks not only a strategic move to attract investment but also reflects Vietnam’s ambition to elevate its position within the global value chain.

Da Nang becomes Vietnam’s first official free trade zone

Selected for its strategic location in Central Vietnam with seamless connectivity to the deep-water Lien Chieu Port, Da Nang International Airport, and the East-West Economic Corridor, Da Nang benefits from a well-developed industrial and service foundation and serves as a key economic hub in the region.

The Da Nang FTZ spans 1,881 hectares and is divided into seven non-contiguous areas across Lien Chieu District and Hoa Vang District. Its core functions include manufacturing, logistics, trade and services, digital technology, information technology, and innovation.

Several international media outlets have noted this as a strategic effort to attract global investment flows through tax incentives and seaport advantages, thereby fostering economic growth. The Da Nang FTZ is expected to become a major center for the economy, logistics, and technology within the Asia-Pacific region.

This development signals Vietnam’s growing prominence as a new center in the international economy, asserting its role in the global value chain and reaffirming its appeal as a destination for foreign direct investment (FDI). According to data from the General Statistics Office, total FDI in the first six months of 2025 reached USD 21.52 billion, a 32.6% increase year-on-year, marking the highest level since 2009. Projections indicate that FDI inflows into Vietnam will maintain upward momentum in the coming years.

These achievements stem primarily from policy reforms aimed at fostering a transparent and competitive business environment. In parallel, advancements in payment system modernization and streamlining cash flow management play a crucial role in enhancing the business experience, reducing operational friction, and strengthening investor confidence.

Modernized payment systems: a key driver for FDI attraction

Vietnam is making significant strides in developing cross-border payment systems, creating opportunities to attract more FDI inflows. The government is actively refining its legal framework to promote cashless payments and regulatory sandbox initiatives for emerging fintech technologies. Payment infrastructure continues to be modernized in alignment with global standards, spanning the interbank electronic payment system, NAPAS, the operation of the 24/7 Automated Clearing House (ACH), and the adoption of ISO 20022 standards.

Notably, Vietnam is accelerating international cooperation, pioneering cross-border QR payment connectivity with ASEAN countries and major partners such as China. This advancement not only facilitates tourism but also bolsters trade and investment by enabling smoother capital flows.

Concurrently, the adoption of advanced technologies such as contactless payments, tokenized transactions, and blockchain research is positioning Vietnam as a safe and attractive destination for foreign capital, contributing to enhanced national competitiveness.

In this context, licensed payment intermediaries authorized by the State Bank of Vietnam play a vital role in advancing digital financial infrastructure for FDI enterprises. Among them, 9Pay stands out as a pioneer in providing payment solutions to over 1,000 international partners, including multinational corporations in e-commerce, fintech, education, and beyond.

Positioning itself as a bridge between international businesses and the Vietnamese market, 9Pay has developed a comprehensive ecosystem of solutions, including payment gateways, payment applications, collection and disbursement services (9S), and international money transfer (9Remit), helping to eliminate barriers for enterprises, particularly those entering Vietnam for the first time.
By 2027, 9Pay aims to become the leading local digital financial platform serving FDI enterprises in Vietnam, thereby contributing to strengthening the nation’s position on the global trade, technology, and supply chain map.

Da Nang’s designation as an FTZ not only opens new opportunities for the coastal city but also positions Vietnam at the heart of the global supply chain map, driving sustainable international capital inflows. In this process, modern payment infrastructure and cross-border connectivity will serve as indispensable foundations, reinforcing investor confidence and creating competitive advantages for Vietnam’s economy in an era of deeper global integration.