The municipal People's Committee recently granted in-principle approval for the project and okayed Vietnam Singapore Industrial Park Joint Venture Co. Ltd. (VSIP) as the investor).

The project will cover more than 249 hectares in Dien Ban Bac ward and have an operating term of 50 years from the date the government leases the land or approves a change in land-use purpose.

According to the approved timeline, investment preparation procedures will be carried out between Q3.2026 and Q3/2027. Land compensation, site clearance and land handover are scheduled from Q4/2026 through Q2/2028.

Construction is expected to run from Q3/2027 until Q4/2031, with commercial operations commencing during that period. Marketing activities and efforts to attract tenants are expected to begin in Q3/2028.

The decision stipulates that construction and the commencement of operations must be completed within 48 months from the date the government hands over or leases the land.

The project will be eligible for investment incentives under Vietnam's laws governing investment, land and other relevant regulations, subject to meeting all applicable conditions.

The Danang People's Committee said the investor must implement the project in line with the approved objectives, scale, location and schedule, while complying with regulations on investment, land, construction, environmental protection, industrial parks, and real estate business.

VSIP will also be required to provide an investment security deposit or a bank guarantee in accordance with Vietnam's Investment Law and will be legally responsible for the accuracy of submitted documents and commitments made during project implementation. Failure to meet approved timelines, project objectives or other obligations could result in legal sanctions.

The city's High-Tech Park and Industrial Zones Authority, together with relevant agencies, has been tasked with supervising project implementation to ensure compliance with the approved investment policy, planning requirements, and applicable regulations.

Danang said investment attraction remained a bright spot in the city's economy during the first half of 2026.

Investment commitments by domestic companies reached approximately VND74.2 trillion ($2.82 billion) in the first six months of the year, up 1.8 times from the same period a year earlier.

Foreign direct investment (FDI) commitments exceeded $357 million during the same period, an increase of 84.5% from the first half of 2025.

FDI inflows were concentrated in trade and services, information technology, manufacturing and processing industries, and modern retail, including large-scale projects such as the AEON Mall Danang shopping center, an MDF wood processing plant, and an electrical cable manufacturing facility.