Da Nang has entered into a consulting agreement with Singaporean partners to make adjustments to the master urban plan for the city’s progress by 2030, with a vision towards 2050. In particular, these foreign consultants have pledged to be directly involved in business promotion and investment attraction activities for the sake of the city.

Human resource training is one of the main pillars of international consultancy to boost Da Nang’s growth by 2030. Here is a view of the manufacture of electronic components in the Hoa Khanh Park.

Mr Tran Phuoc Son, the Director of municipal Department of Planning and Investment, said, the municipal People’s Committee has issued policies for connecting with foreign investors, training high-quality human resources, building international cooperation programmes until 2030, boosting global connection in investment - trade - tourism promotion, enhancing the capacity of small and medium-sized enterprises, and building a smart city mode.

In the 2019-2020 period, international consultancy businesses will annually help the city attract 4 or 5 investors who want to conduct the pre-feasibility study for their projects in the city, including 1 or 2 projects worth at least 50 million US$ each, and assist the city in building marketing plans.

In the 2020-2030 period, foreign consultants will assist the city in cooperating with global partners, entering into memoranda of understanding with organisations and associations worldwide, and forming exchange programmes between the city’s small and medium-sized business community with partners of foreign consultants in order to seek bilateral cooperation and investment opportunities.

Notably, internationally cooperative consultancy must focus on building Da Nang into a smart city by building a roadmap for the city to join ASEAN’s economy, hereby laying a foundation for the city to further approaching to global market as a whole.

Besides, consultants must give suggestions to the city about fostering the digitalisation of local businesses.

Consulting businesses should also strengthen their cooperation with international financial and credit institutions through the development of action programmes, give support to projects to make Da Nang become a worth living, attractive city, and appeal for companies worldwide to open their business offices and pour investment into the city.

Furthermore, consulting firms should provide the city with valuable opinions made by experts about sustainable development, connect with the international Finance Corporation (IFC), a sister organisation of the World Bank, to support the city’s development through such specific programmes, launch community activities, and accelerate capital mobilisation for State-owned enterprises.