Currently, there are 17,889 private businesses in Da Nang, with a total registered charter capital of 88,855 billion VND. 

Secretary Anh addressing the meeting

To date, the city has attracted a total of 254 domestic projects worth nearly 84,500 billion VND in total, and there has been a healthy upward trend in domestic investment into the city over recent years.  However, the number of local FDI projects in the 2011 - 2015 period was much lower than in the period 2006 - 2010.  Six ODA projects totalling 400 million USD are now underway in the city.

These figures were released at a meeting on Wednesday between municipal Party Committee Secretary Nguyen Xuan Anh and representatives from the city’s Department of Planning and Investment.

The Department’s Director, Mr Tran Van Son, remarked that many domestic businesses are developing local seaside projects, whilst many foreign investors are tending to withdraw their investment capital.  He remarked that his unit is gathering opinions from other relevant local agencies about the construction of the 4,800 billion VND Ocean Park which will be deployed by the Sun Group on the Son Tra Peninsula, and then the comments will be submitted to the municipal authorities for consideration.

Secretary Anh and other city leaders totally agreed with the adjustments to a master plan to promote the local socio-economic development by 2020, as well as supplements to the city’s overall development planning by 2030, with a vision towards 2050.  This will help the city to effectively handle a population of 2 million people in the future, as well as satisfy the increasing demands for accommodation, traffic, education, healthcare services, and other local aspects.

Secretary Anh highly praised the Department for its vital role in bolstering the city’s construction and development over recent years.  He remarked that, over the past 8 months, the Department has made effective suggestions to the city’s leaders about the allocation of investments from the city’s budget to local districts in order to enhance decentralisation to district-level authorities and better manage their budgets.  In particular, the Department has proposed that the national government should issue preferential mechanisms concerning finance and budgetary status for the city.

The city leader asked the Department to complete specific plans for allocating funds to next year’s basic construction projects, and then present them to the municipal People’s Council for consideration.   The top priority should be given to allocating capital to local key and practical projects in order to avoid waste, as well as carefully appraising the financial capacity of developers before granting investment licences to them.

Importance should be attached to issuing more effective mechanisms concerning attracting build-transfer (BT) and build-operate-transfer (BOT) projects in the years ahead, and giving ultimatums to the developers of local delayed projects, asking them to begin construction of their projects or face having their construction licences revoked.

Taking advantage of the 25^th Asia-Pacific Economic Cooperation (APEC) Summit which will take place in the city in October 2017, more measures should be taken to effectively attract more domestic and foreign investment into the city.