Following the great success of the APEC Economic Leaders’ Week (AELW) 2017 and the 2017 Da Nang Investment Forum, the city is focusing on implementing its landmark campaign ‘2018: The Year of Investment Promotion’. 

The city will continue to promote its strengths and develop its urban infrastructure to attract more investors (Photo: Nhan Mui)

A DA NANG Newspaper reporter recently interviewed municipal People’s Committee Chairman Huynh Duc Tho to learn about the significance of this important campaign.

Chairman Tho remarked that the city is focusing on enhancing its stature in the central region, and the country as a whole, taking full advantage of the golden opportunities APEC offered, and creating an open and safe investment environment for businesses from both home and aboard. 

Municipal People’s Committee Chairman Huynh Duc Tho

With regard to the campaign’s major tasks, emphasis is being placed on identifying socio-economic development models and orientations by 2030, with a vision towards 2050, especially enhancing the city’s competitiveness in the current context of deeper global integration and the burgeoning Fourth Industrial Revolution (Industry 4.0).

Incentive strategies will be developed to boost the growth of the local spearhead economic sectors, namely tourism and services, not only in coastal areas, but also the west and northwest parts of the city.  
In particular, heed will be paid to developing such new emerging products as cultural, spiritual and medical tourism.

As for investment promotion, appeals for investment in the hi-tech sector will be promoted. 

In the coming months of this year, the city authorities will propose that the national government should issue preferential policies and mechanisms to accelerate the city’s progress, especially stepping up the establishment of marine economic zones and the performance of port authorities.

During his interview, the municipal government leader hailed the ‘safe investment’ criterion as one of the targets set for the ‘2018: The Year of Investment Promotion’ campaign. 

In an attempt to enhance the efficiency of the use of local land resources, the local authorities will promptly take back unused land in some delayed projects in order to re-lease it to businesses that are in desperate need of the land for production activities. 

In particular, importance will be attached to ensuring the transparency of land prices, simplifying administrative procedures, and shortening the time to conduct auctions for land use rights, thereby facilitating investors to access land resources for their business activities.

Greater efforts will be made to improve the lower-than-expected sub-indices of ‘land access’, ‘transparency’, and ‘business support services’ at the Provincial Competitiveness Index (PCI) which has been a critical tool for measuring and assessing the standards of economic governance in the country’s 64 provinces from the perspective of private sector businesses.  The intention is to create an open, fair, transparent, and healthy investment environment for domestic and foreign businesses.

In his appeals for investment inflows into the city, Chairman Tho said he would like the local business community and investors to actively support the key national target of ‘building
an honest, constructive, action-minded government to serve citizens and businesses’, as well as to strictly obey the national laws.

A prosperous corner of the city (Photo: Dang No)

The green light has already been given to the deployment of a project for expanding the city’s start-up ecosystem by 2020, with a vision towards 2030, and the release of specific business support policies.  Hence, it is necessary for potential businesses to take advantage of such preferential mechanism so as to expand their business activities.

The city leader said he hoped that investors from both home and abroad would pour their money into the city, and make joint efforts with the local government and inhabitants to make Da Nand more prosperous in the years ahead.