To date, Da Nang has attracted 409 foreign direct investment (FDI) projects from 40 countries and territories worldwide, with the total investment standing at over 3.673 billion USD. 

Workers at an electronic components factory in the city

South Korea takes the lead amongst the city’s foreign investors, and its projects are mainly in such aspects as information technology (IT), electronics, mechanics and logistics.

According to an assessment by the city’s Investment Promotion Centre, over the past 5 years FDI businesses have contributed 11.83% to the local economy’s total value added.  Their industrial production value has accounted for between 20% and 25% of the city’s total.

Most notably, the FDI projects have helped to renew technologies, especially in the aspect of manufacturing goods for export.  The FDI contributions to the city’s budget have increased significantly year by year.  In 2011 alone, the businesses contributed 16.5 million USD, and the figure jumped to over 70 million USD last year. 

The local FDI projects have created employment for over 44,000 people, many of whom have been given the chance to learn about new techniques and enhance their professional skills in order to promote the city’s export value. 

In particular, over the first half of this year, the FDI businesses earned nearly 316 million USD from exports, a 133% increase in comparison with last year.

The FDI inflows have helped to add more investment into the city’s development funds and accelerate the local economic and employment restructuring.  This has created jobs for local residents and helped them enhance their living standards.

However, between January and June, the city saw a significant decrease in the number of new FDI projects, with only 22 newly-licenced projects worth just over 10 million USD.  Not one is large-scale, and there has been no investment in tourism real estate or hi-tech.

The city will continue its efforts to attract more FDI to the city, particularly in such priority aspects as high-quality tourism services, IT, hi-tech, support industries, logistics, healthcare and agriculture, in order to promote the city’s development in a sustainable manner.