The Da Nang authorities are now focusing on ensuring a local fair, open and transparent business environment for investors from both home and aboard, and issuing numerous preferential policies for them as well.

On behalf of the city authorities, Chairman Tho granting investment licences to representatives from businesses at the 2017 Da Nang Investment Forum

Between January and October, the city authorities granted business registration certificates to a total of over 4,000 new domestic and FDI businesses, branches and representative offices, with a total registered charter capital of over nearly 21,098 billion VND (about over 930 million US$).  This, thereby, brings the total number of businesses, branches and representative offices in the city to date to 22,040 totalling 142,600 billion VND (about over 6 billion US$)

In particular, over the past 10 months, the city attracted 89 new FDI projects worth 75.7 million US$ in total, which is 4.3 times higher than in the same period last year.  Thanks to this, the total number of FDI projects in the city has to date reached 533 totalling over 3 billion US$.  

According the Deputy Director of the municipal Investment Promotion, Mr Nguyen Ky Anh, the city authorities are now continuing saying ‘Yes’ to only environmentally-friendly projects in such local priority aspects as tourism, services, IT, electronics, precision mechanics, logistics, hi- tech agriculture and support industries.

Apart from the organisation of investment promotion activities in Da Nang’s key foreign markets during working trips made by the city leaders, special heed has been paid to enhancing bilateral relationships with many representative offices of such foreign diplomatic organisations in Viet Nam as Japan External Trade Organisation (JETRO), from Japan, BOI from Thailand, KCCI from South Korea, and IE from Singapore.

The Da Nang Association of Investors and Developers highlighted the significance of taking the great advantage of the city’s nationally and internationally recognised ‘brand names’ such as ‘A Liveable City in Viet Nam’, ‘The City with the Best Infrastructure in Viet Nam’ and ‘Asia’s Leading Festival and Event Destination’, in a bid to attract more domestic and foreign investors in the coming years.

Addressing the 2017 Da Nang Investment Forum in mid-October on the sidelines of the recent APEC Week, municipal People’s Committee Chairman Huynh Duc Tho pledged that the city authorities would continue helping businesses overcome their difficulties, and maintaining a sustainable and healthy investment environment for them. 

Also at this event, Prime Minister Nguyen Xuan Phuc underscored the need for Da Nang to consider opening more direct flights connecting with Europe and the US in a bid to develop the city into a hub of international conventions, technologies and business finance in the near future.