There has been an upward trend in Japanese investment into Da Nang with the current total reaching 498.643 million USD.  Japan has become the fourth largest foreign investor in the city with 96 businesses and dozens of representative offices now established.  Japanese projects include processing, manufacturing, hi-tech, information technology and communications, electronics, and tourism industries.  They are playing a significant role in promoting the city’s economic development and they have so far created around 35,000 jobs for residents of Da Nang and neighbouring localities.

The President of Daiwa Vietnam Co Ltd cum Chairman of the Japanese Business Association in Da Nang, Mr Shinichi Iwama, says that representatives of numerous Japanese businesses have recently visited the city to seek investment opportunities.  Included were Nomura Research Institute (NRI), New Energy and Industrial Technology Development Organisation (NEDO), and some famous companies involved in smart industries such as Kandenko, Seksui, Shimizu and PUES.  They all expressed their willingness to set up a zero energy building (ZEB) and a smart building, install a sustainable power system, and develop an electric bus system as well as deploy other smart projects in the city.

Workers at Japan-invested TTTI company

Da Nang is the Pacific gateway for the East-West Economic Corridor and boasts great advantages in air and sea transportation.  In addition, the city is emerging as an attractive destination for Japanese investors due to its beautiful beaches and its favourable geographical position on the central region’s heritage route, which includes the Hue Citadel, Da Nang, Hoi An City and My Son Sanctuary.  Apart from these advantages, the city is attractive to Japanese businesses thanks to its preferential policies for foreign investors, its simple and fast administrative procedures, its improved infrastructure and a cheap workforce.

To date, the city has established cooperative relationships with many Japanese cities such as Kawasaki, Sakai Yokohama, Mitsuke, Tokyo, Fukuoka, Nagasaki and Kobe.

A representative from Ogaki Bank said that his bank has operated in Viet Nam for nearly 10 years and it is planning to open a branch in Da Nang in the near future to provide services for the Japanese investors.

Most notably, the municipal People’s Committee has awarded Certificates of Merit to many Japanese businesses operating in the city in recoginition of their great efforts for the city’s development.  They have included Mabuchi Motor Danang, Daiwa Vietnam, and Sasaki Danimex Vietnam Industries Corporation (SADAVI).