The national government-approved Decree No 04/2018/ND-CP regulating preferential mechanisms and policies for the Da Nang Hi-Tech Park will officially take effect from 20 February.  This is a very important mechanism enabling the Park to attract even more domestic and foreign investment from this year onwards.

The inside of the Japan-invested Tokyo Keiki Precision Technology Company at the Park

Established in 2010, the 1,010ha Da Nang Hi-Tech Park in Hoa Vang District is the first of its kind in Central Viet Nam, and the third of its kind in the country after Ha Noi and Ho Chi Minh City. 

Detailed preferential policies and investment support mechanisms are available at http://baodanang.vn/english/business/201801/preferential-mechanisms-for-citys-hi-tech-park-2585956/.

During his recent interview with the DA NANG Newspaper, Mr Phung Tan Viet, the Head of the Da Nang Hi-tech Park Authority, highlighted the significance of the Decree 04 in fully tapping the great potential of the Park. 

Mr Phung Tan Viet, the Head of the Da Nang Hi-tech Park Authority

The issuance of the Decree 04 featuring the most preferential policies for the Park demonstrates the Prime Minister’s good intention of creating an impetus to leverage the growth of the whole central region which is till less prosperous than the northern and southern regions.

Furthermore, the national leader has already appealed for big investors from both home and abroad to pour their money into the Da Nang Hi-tech Park, as well as encouraged similar venues in Ha Noi and Ho Chi Minh City to introduce their potential investors to the Park.

Notably, the Decree 04 offers a good opportunity for the city to effectively its key campaign ‘2018: The Year of Investment Promotion’, and to further develop the western part of the city into hi-tech industrial urban area in the coming years.

Action plans have recently been issued by the Authority to appeal for even more domestic and foreign investment into the Park.

According to the Authority, the Park is targeting to attract 4 or 5 new investment projects by the end of this year with a total investment capital of between 70 and 80 million USD.  Especially, high hopes will be put into the park’s attracting up to 8 projects totalling 150 and 200 million USD this year.

Apart from promoting the publicity of the Park in the mass media, importance will be attached to publicising this venue’s prestige through effective advertising activities at the Noi Bai and Tan Son Nhat international airports.

Last year saw representatives from the Park Authority take successful overseas business trips to such countries as France and Germany in a bid to appeal for even more investment inflows in the Park. 

Notably, Bekaert, Telespazio France, FM Logistics, QuantCube Technology and other prestigious businesses have pledged to conduct surveys into investment opportunities in the Park.

In an effort to appeal for more foreign investors, emphasis will be placed on cooperating with international organisations from Japan, South Korea, the USA, the UK, and European countries to enhance the city’s investment promotion activities in these major markets.

Workers at the Tokyo Keiki Precision Technology Company

The Da Nang Hi-tech Park is now one of the members of the Asian Science Park Association (ASPA) which is an international non-governmental organisation.   Established in Japan in 1997, ASPA aims to accomplish the joint development in the fields of scientific technology, industry and economy in the Asian region. 

Representatives from the Park Authority have attended many ASPA-organised seminars during which they took the opportunity to appeal for participating investors from Russia and Asia countries to seek investment opportunities in their venue.

Special heed will be paid to enthusiastically creating the most favourable conditions to ensure the effective operation of the Park’s existing businesses which, in turn, will help to inspire more foreign investors to pour their money into this venue.

Currently, businesses operating in the Park find it easier to complete their administrative procedures through the Authority whose headquarters are located in the Park, thereby helping them save time and expenses.

Every month, the Authority’s leaders meet with representatives from businesses operating in the Park so as to hear about the issues of most concern to them.

Currently, employees and workers at the Park are enjoying subsidised bus fares, and by late this year, a new bus route linking the 29 March Park with the venue will have been put into operation.