During his recent working session with relevant local agencies, Da Nang Party Committee Secretary Truong Quang Nghia underlined the need to ensure the city’s internal strength to implement its key campaign ‘2018: The Year of Investment Promotion’.

Secretary Nghia addressing his working session with relevant local agencies

In particular, one of the priorities will be given to create new breakthroughs in appealing for even more domestic and foreign investment into the Da Nang Hi-tech Park. 

Secretary Nghia asked the municipal People’s Committee to focus on completing traffic infrastructure and lighting systems at the Park, opening a new bus route linking the city centre with the venue, and constructing accommodation facilities for workers there.

The city’s Party chief highly praised the Authority of the Park for relocating its headquarters from the municipal Administrative Centre to this venue, thereby assisting businesses operating there to complete their administrative procedures in a more effective and convenient manner, and this indeed helps them save much time and expenses.

The city’s top leader also emphasised a must-do for the municipal government to accelerate the construction of a fully-equipped work place for the Authority staff to organise better receptions for investors who come there to learn more about business opportunities.

An artist's impression of the Park

For its part, the Authority of the Park was required to enhance its performance, fully tap their venue’s existing infrastructure, and make full use of the national government-approved Decree No 04/2018/ND-CP regulating preferential mechanisms and policies for the Park.  This, hence, will enable the Park to attract even more domestic and foreign investment from this year onwards.

To date, the Authority has granted investment registration licences for 10 projects totalling 249 million USD, 3 of which were wholly Japanese-invested ones involved in the manufacturing sector.

In particular, 2 out of the Japanese-invested projects, both involved in the precision engineering sector, have been put into operation, with each generating an annual revenue of 65 billion VND (over 2.8 million USD).  They are the 40 million USD electromagnetic switch valve manufacturing plant of Tokyo Keiki Precision Technology, and the 30 million USD engine casting plant of Niwa Foundry Viet Nam.

Last year, the Park welcomed a total of 200 delegations of domestic and foreign investors who wanted to seek investment opportunities there.

By the end of this year, the Park is aiming to attract 4 new investment projects with a total investment capital of 100,000 USD, with a focus on such aspects as hi-tech, energy saving, and clean technology.

Previously, Secretary Nghia had paid inspection visits to the construction site of the Park’s dedicated wastewater treatment plant and the Tokyo Keiki Precision Technology company.