In the years ahead, Da Nang will focus on attracting more foreign direct investment (FDI) into its hi-tech, high-quality, environmentally clean and support industries.  The aim is to speed up progress on the city’s economic restructuring, and build Da Nang into an environmentally-friendly city.

The Da Nang branch of the TCIE Vietnam Company

This issue was presented in an online dialogue in the city on Tuesday which was entitled ‘Investment Attraction into Da Nang – Current Situation and Solutions’.  Organised by the Da Nang Portal, the event was attended by the Industrial and Export Processing Zones authorities, along with leaders from the local Investment Promotion Centre and the departments of Planning and Investment, Industry and Trade, and Foreign Affairs.

Over recent years, Da Nang has emerged as an attractive destination for investors from both home and abroad.  To date, it has attracted 437 FDI projects from 38 countries and territories worldwide, with their value totalling 3.7 billion USD.  However, these projects have mainly been in such aspects as real estate and tourism.  Meanwhile, the number of FDI projects in the city’s priority aspects of hi-tech, education, healthcare and logistics is lower than expected.

Ms Huynh Lien Phuong, Deputy Director of the city’s Investment Promotion Centre, said that the recent increase of FDI inflows into the city have helped to promote its socio-economic development and effectively shift its economic structure more towards services-tourism-trade, industry and agriculture.  Special attention has been paid to boosting the city’s international economic integration, and establishing bilateral cooperative relationships with many foreign countries.

The Deputy Director of the Department of Industry and Trade, Mr Nguyen Dinh Phuc, remarked “Three new industrial parks (IPs) will be created in the city in the near future - the 2^nd phase of the Hoa Cam IP covering 110ha, the 200ha Hoa Ninh IP, and the 483.57ha Hoa Nhon IP.  There will be 7 new industrial clusters (ICs) – the 30ha Cam Le IC, the 30ha Hoa Nhon IC, the 50ha Hoa Phong IC, the 11.8ha Hoa Khanh Nam IC, the 13ha Hoa Hiep Bac IC, the 5ha Nam O fish sauce village, and a 5ha site for traditional handicrafts.  Top priority will be given to building the Cam Le and Hoa Nhon ICs.”

Mr Huynh Van Thanh, Deputy Director of the Department of Planning and Investment, underlined that in the immediate future importance will be attached to organising even more dialogues between the local authorities and businesses, speeding up the city’s administrative reforms, assisting local businesses to renew their technologies, boosting investment promotion activities in trade and tourism, and training high-quality human resources.

He added that greater efforts will be made to enhance the investment environment and effectively implement a pilot programme allowing local businesses and investors, from both home and abroad, to directly send their suggestions and complaints to local relevant agencies.

Both domestic and foreign investors into the city’s support industries will enjoy financial assistance from the city authorities for their technological innovations and human resources development.  In addition, they will enjoy reductions, or even exemption, from their infrastructure use and wastewater treatment fees, as well as being allowed to access loans from the city’s Development and Investment, and Environmental Protection funds.

In attempting to attract more FDI into the city, it has been decided to establish 2 representative offices on the southern and northern sides of Japan, and to reduce the time for dealing with business establishment procedures to 11 days.