As reported earlier, Da Nang has faced difficulties in attracting new investment inflows, especially foreign direct investment (FDI).  Between 2006 and 2010, the city attracted over 2.4 billion USD from FDI projects, but only just over 1.3 billion USD came in the period 2011 - 2015.

Mr Nguyen Van Tuan from the School of Politics Zone 3 in Da Nang has recently made some suggestions about how to attract more FDI projects in 2016.

In his opinion, the keys are continuing to improve the city’s investment environment and perfecting the city’s policies on foreign investment. 

Employees at a local textiles and garment company

In addition, the focus should be on effectively implementing the central government’s preferential policies for foreign investors and promptly dealing with difficulties faced by FDI businesses during their production process.

Also, special attention should be paid to improving local socio-economic infrastructure matching with the central region’s master economic development strategies.  Importance should be attached to training and recruiting qualified employees for the city’s foreign affairs, and they should all be required to speak fluently in such foreign languages as English, Japanese and Korean.

Greater efforts should be made to enhance the efficiency of the State management of FDI projects, along with increasing the checks and monitoring of business activities of foreign investors in accordance with Vietnamese laws.

Better solutions should be found for stopping the import of outdated technologies, and learning valuable experiences from domestic and foreign localities for appealing for more FDI inflows.   

Also, an emphasis should be on promoting trading, investment and tourism activities at international forums and fairs with a focus on such key markets as Japan, South Korea, the USA, Taiwan, Singapore, Malaysia and EU countries.