Da Nang’s incentive policies to attract more large-scale projects at the city’s Hi-tech Industrial Park is being presented to the central government and relevant ministries for approval.  This was officially confirmed by the Deputy Head of the Hi-tech Industrial Park Authority, Mr Doan Ngoc Hung Anh, at a recent online meeting entitled “Da Nang with Investment Incentive Policies”.

In detail, more preferential policies will be applied to projects with a total investment capital of more than 200 million USD, along with companies involved in the hi-tech industry with an annual average spending on research and development activities carried out in Viet Nam over 1% higher than their yearly total revenue.  They will pay only 10% of their corporate income tax, and enjoy a reduction of 50% on their land lease fees for the first 30 years of operation.

Da Nang Hi-tech Industrial Park project

Mr Anh stressed the need for the city to issues new policies which are more preferential than the existing ones in order to attract large-scale hi-tech projects like the Intel Project in Ho Chi Minh City, or the Samsung Plans Hi-Tech Project in Thai Nguyen Province.  He also said that a focus is on meeting directly with potential investors from Japan, South Korea, the USA and European countries to encourage them to invest in the local hi-tech park.

Covering an area of over 1,129 ha, the IP features 7 functional areas.  More than 206ha will be reserved for high-tech manufacturing companies, with the remainder for centres of research, development and training, and centres of management, services and business development.  In addition there will be accommodation, green spaces, water features, parks, sporting facilities, parking areas, technical infrastructure and logistics and service areas.

To date, the IP has attracted 2 Japanese companies with a total investment capital of 61.87 million USD.  They are Tokyo Keiki Precision Technology and Niwa Foundry specialising in precision engineering.