Between January and June, the Da Nang authorities granted business registration certificates to 2,395 new domestic businesses, branches and representative offices with a total registered charter capital of 11,500 billion VND, which is up 57.4% on the same period last year. 

The Da Nang branch of TCIE Vietnam

In addition, investment licences were granted for 6 new FDI projects, worth 23.07 million USD in total.  These figures are increases of 50% and 163.8%, in the number of businesses and amount of investment respectively, against the same period last year.

The figures were recently released by the municipal Department of Planning and Investment.  The domestic and FDI inflows have helped to add more investment into the city’s development funds, and accelerated the local economic restructuring process.

The city now has 6 dedicated industrial parks (IPs) covering a total area of over 1,000ha, but most of them have no offices left for rent.  Also, some of the businesses in the IPs are finding it very hard to expand their production capacity. 

In order to solve the problem, by 2020 the city is planning to build 4 more IPs covering a total area of over 1,600ha.  They are the 2nd phase of the Hoa Cam IP covering around 180ha, the 550ha Hoa Nhon IP, the nearly 700ha Hoa Ninh IP, and the 227ha Hoa Son IP. 

Apart from the 4 new IPs, the city authorities have already completed related procedures to establish new industrial clusters (ICs) in Hoa Vang and Lien Chieu districts for local small and very small-sized businesses in the near future, including the 30ha Cam Le and the 30ha Hoa Nhon ICs. 

Also, the Hi-tech Park, the Hi-tech Support Industrial Area, the IT Park, and the dedicated IT Zone No 2 will be put into use in the years ahead.

Workers at the Tokai company in the Hoa Cam IP

According to Mr Le Canh Duong, the Director of the municipal Investment Support and Promotion Board, over recent years the city has focused on boosting investment promotion activities in such key foreign markets as Japan, South Korea, and the UK during working trips made by the city leaders. 

Most notable was a working trip to the United Kingdom in April made by a group of city leaders led by municipal Party Committee Secretary Nguyen Xuan Anh.  They met with representatives from the Vietnamese Embassy in the UK, the Biwater Group, and Aston University in a bid to promote the city’s investment environment. 

In May, a group of city leaders, led by municipal People’s Committee Vice Chairman Ho Ky Minh, paid a visit to Japan.  During their stay there, many investment promotion activities were conducted in the cities of Tokyo, Saitama and Sapporo.

During her recent visit to Da Nang, the CEO of Selfwing Viet Nam Co Ltd, Ms Yukiko Hirai, remarked that the transparency of the local investment environment and the kind support from the city authorities are considered important factors for investors to feel secure whilst doing business in the city.

The city authorities have always pledged to create the most favourable conditions for investors, from both home and abroad, to operate effectively in the city.  They are also willing to help them overcome any difficulties, and deal with any complaints they may have.