A seminar entitled “Improving Da Nang’s Investment Climate to Attract More Foreign Direct Investment (FDI)” took place in the city on Thursday afternoon. 

Participants suggested a number of effective measures which Da Nang should take immediately to encourage more foreign investors to pour their money into the city.  These included ensuring an open, fair, and transparent investment environment for domestic and foreign businesses, speeding up administrative reforms, and spurring greater FDI flows into the city.

Effective performance of local FDI businesses has played a vital role in the city’s socio-economic development

By late November, Da Nang had attracted 279 FDI projects with a total registered capital of over 3.31 billion USD.  Most of these FDI companies operate effectively and make a remarkable contribution to the city’s budget and its export earnings.  Their advanced management and modern business methods are a learning experience for domestic enterprises.  These factors drive them to improve their own technologies and their product quality.

Addressing the event, the municipal People’s Committee Chairman, Mr Van Huu Chien, said that despite the global economic downturn, Da Nang’s economy was likely to have grown by 7.7% during 2013, which will be above the national figure.  The changes in the city’s economic structure have been positive for local growth, with services up 59.43%, industry-construction 28.75%, and agriculture-forest-fisheries 2.32%.  In addition, a focus has been on building a synchronous and modern infrastructure.  Therefore, Da Nang has become an attractive destination in Viet Nam for foreign investors.  Top priority is being given to seeking foreign investments in such aspects as services, hi-tech and support industries, and IT.