City makes great efforts to promote potential to foreign partners

Published: September 11, 2018

Given Viet Nam’s upcoming role hosting the World Economic Forum on ASEAN (WEF ASEAN) during 11-13 September, Da Nang is making every effort to promote its potential and strength to the world’s leading partners and businesses.

A corner of Da Nang (Photo: VNA)
A corner of Da Nang (Photo: VNA)

The city is the gateway into both Viet Nam’s Central and Central Highlands provinces, and countries in the Mekong sub-region to the East Sea, as well as the final destination of the East-West Economic Corridor.

Over the past few years, Da Nang’s gross domestic products (GDP) grew stably, at about 9% each year, 1.5 times higher than the national rate.

The service sector made up 53% of the local GDP in 2017; industry 33%; and agriculture 2%.

The city is now home to more than 22,000 businesses, 59 commercial centres and supermarkets, 689 hotels and resorts, and 10 industrial parks.

In order to attract quality investment projects and materialise development orientations, Da Nang is currently building a high-tech zone and an IT zone, as well as working on planning schemes for Software Park No. 2 and a second IT zone.

The Da Nang International Airport is Viet Nam’s third largest international airport with 28 direct overseas routes and 199 flights per week.

The city has selected 2018 as its year of investment promotion in an effort to maximise on its advantages and create a breakthrough in socio-economic development. Therefore, since the beginning of this year, the city has made great efforts to appeal for domestic and foreign investment, with focus on high-tech and clean production technologies, gearing towards green growth.

Along with offering incentives regarding corporate income tax and land lease to investors, the locality has issued specific preferential policies towards the supporting industry, software exports, startup network, and trade promotion.

In August 2018, Da Nang was given the title of National Green City 2017-18 by the World Wide Fund for Nature (WWF)’s One Planet City Challenge programme, making it onto a list of 21 cities from around the world.

The central city submitted a target of reducing greenhouse gas emissions by 25% in 2016, along with plans for solar power development, biofuel use, bus rapid transit (BRT) routes, and wastewater treatment.

According to Mr Huynh Duc Tho, the Chairman of the municipal People’s Committee, the WEF ASEAN offers a chance for Da Nang to introduce its policies that reflect its willingness, transparency, and equality in investment attraction with domestic and foreign partners.

Currently, the city is focusing on the three spearhead sectors of high-tech, IT, and tourism services.

Statistics from the municipal Department of Information and Communications show that around 20,000 people are working in the IT sector in Da Nang, significantly contributing to promoting the development of software technology in the city.

Many high-quality international training programmes have been implemented in Da Nang, meeting the demand of domestic and foreign software firms.

Da Nang is now home to nearly 700 IT enterprises, mainly specialising in software producing and outsourcing , which makes up 43% of these firms; IT product distribution and sale at 29%; electronics and hardware assembly and manufacturing, 7%; digital content production and supply, 5%; and other IT-related services making up for 6%.

In 2017, the city’s information and communications sector maintained a stable growth pattern, with total revenue hitting 21.75 trillion VND, 3.5% higher than the yearly target and a year-on-year increase of 9%.

In particular, the information technology sector (software technology and digital content) earned 14.4 trillion VND. Its software export revenue reached 67 million USD, up 15% against 2016.

According to the municipal Department of Statistics, the IT sector contributed about 5.4 % of the local GDP in the year.

In 2017, the city welcomed more than 6.6 million tourists, of whom 37% were foreign arrivals.

The city has successfully hosted various international events like the Da Nang International Fireworks Festival, the Asia Golf Tourism Convention, the LJ International  Lighting Festival, the Asian Beach Games, the Clipper World Yacht Race, as well as many others. Most significantly, it also hosted the APEC Economic Leaders’ Week in 2017 with resounding success.

Da Nang is famous for its beautiful landscapes, especially the beaches. Visitors can admire the natural wonders in Ba Na Hills, explore the jungle in Son Tra Peninsula, and contemplate Viet Nam’s tallest Bodhisattva Statue at 67m at Linh Ung Pagoda.

Recently, the online marketplace and hospitality service Airbnb announced a list of the world’s top 10 destinations for 2018, in which Da Nang ranked fifth with a booking surge of up to 255 %.

(Source: VNA/ DA NANG Today)