During a recent discussion about effective ways to help Da Nang attract more foreign direct investment (FDI) inflows, the municipal People's Committee Vice Chairman Phung Tan Viet affirmed that the city would issue more preferential policies and create even more favourable conditions to make foreign businesses feel secure whilst investing in the city.

Participants discussed various ways to boost investment promotion activities with  a focus on the domestic market, as well as to ensure transparency in the use of local land resources.

In particular, the emphasis will be on establishing good relationships between those involved in investment promotion activities and representatives from the central government and relevant ministries and agencies. 

Importance will also be attached to developing skilled collaborators in this aspect.  In addition, heed will be paid to cooperating with local universities to ensure sufficient supplies of high-quality human resources to meet the recruitment requirements of foreign investors.

The Chairman of the Board of Directors of the Niwa Foundry Viet Nam, Mr Tatsumi Niwa, (left) at the construction site of the company’s engine casting plant at the city’s Hi-tech Park

In an effort to attract more FDI, special attention will be given to renewing ways to lure foreign investors.  In addition, the active involvement of the city’s businesses in supply and value chains, through their cooperation and joint-venture activities with domestic and foreign partners, will play a significant role.

To date, many domestic investors such as SunGroup and VinGroup have become the city’s key strategic investors and they are gradually replacing FDI businesses in the local real estate market.  Meanwhile, the FPT Software Da Nang Company and the Military Telecom Group (Viettel) are now playing a vital role in developing the local information technology industry.