Da Nang has appealed for investment inflows from both home and abroad into 9 projects in tourism and entertainment worth an estimated 500 million USD.  The city authorities say they want the development done as Public-Private Partnerships (PPP) and Build-Own-Operate (BOO) models.

The Rong (Dragon) Bridge spans the Han River. It is one of the most visited sites in the city. — VNS Photo Cong Thanh

The Deputy Director of the city’s Tourism Department, Mr Nguyen Xuan Binh told Viet Nam News that the business forum was a big chance for the city’s tourism industry to show its power and potential for cooperation and investment.

He said a horse-racing project, planned on 500,000m² in Cam Le District, was the biggest project with a proposed investment capital of 200 million USD, whilst Ngu Hanh Son Cultural and Historical Park has appealed for investment of 87 million USD.

Mr Binh said the city also called for investment in the first underground shopping centre on the Son Thuy Beach in coastal Ngu Hanh Son District with a proposed 40 million USD.

“We call for investment from foreign investors during our promotions in South Korea, Japan and Europe.  The city has pledged to ensure favourable conditions for investors with flexible policies and positive support as well as administrative reform,” Mr Binh said.

“The city also has an eye on calling local and foreign investment in a cruise port and piers, public parks, an international cuisine centre and a dog-race arena,” he said.

Mr Binh said the projects would help turn the city into a centre of tourism, shopping and finance in Central Viet Nam as well as a rendezvous of UNESCO-recognised world heritage features such as Hue Monument Complex, Hoi An and My Son Sanctuary in Quang Nam Province; and Phong Nha-Ke Bang National Park and Son Doong Cave in Quang Binh Province.

According to the Da Nang Investment Promotion and Support Agency, Da Nang has to date attracted 43 new foreign direct investment (FDI) projects worth 60 million USD over the past 8 months of this year, 4.6 times the amount for the same period last year.

In addition, the city has to date attracted 461 FDI projects worth more than 3.6 billion USD in total, mostly in tourism, services, property and industry.

Da Nang is encouraging investors in high-tech industries and high-quality services in the form of public-private partnerships (PPP), as well as investment in waste treatment, infrastructure development, and solar and wind power.

Earlier this year, the city had listed 68 PPP projects, 22 of which in the high-tech sector. During the 2017 – 2020 period, the city plans to attract domestic and foreign investment worth 1.4 billion USD in total.

(Source: VNS/ DA NANG Today)