Representatives from over 120 foreign and domestic businesses recently gathered in Da Nang to attend a seminar entitled “Investment Opportunities in Da Nang through Merges and Acquisitions (M&A)”.  The event was co-organised by the city’s Investment Promotion Centre and the local FDI Entrepreneurs’ Club.

Addressing the event, the municipal People’s Committee Vice Chairman, Mr Phung Tan Viet, remarked that M&A transactions, and the transfer of investment capital and projects, have been implemented successfully in the city over recent years.  This has helped to open up a new opportunity for foreign and domestic investors, especially those involved in uncompleted and frozen tourism real estate projects.  He added that many investors and businesses have become strong economic groups thanks to taking full advantage of suitable M&A strategies.

Automobile production at the TCIE Vietnam Company

The city leader affirmed that Da Nang is emerging as an attractive destination for investors from both home and abroad.  This is mainly being attributed to the city’s great potential for economic development, fast rate of urbanisation, young population, favourable investment environment, and low-cost labour force.  He said that the M&A services are forecast to become new investment trends in the city.  In particular, hospitality and real estate services are attracting a great deal of attention from investors.  To date, the total capital poured into the 2 services has accounted for over half of the city’s total FDI capital.

According to the Investment Promotion Centre, as of late November, Da Nang had attracted 305 valid FDI projects worth 3.375 billion USD in total.  Of these, 25 were in the real estate and tourism sectors with a total investment capital of 1.85 billion USD, making up 54% of the city’s total FDI capital.  As a result, the city authorities have given top priority to providing active support for businesses involved in the above 2 sectors.