According to the Da Nang Department of Planning and Investment, to date, the city has attracted 323 domestic projects worth 97,699 billion VND in total, and 716 FDI ones totalling 3.35 billion US$.

Workers at a local company

In the first quarter of this year alone, the municipal authorities granted business registration certificates to 1,023 new businesses, branches, and representative offices with a total registered capital of 5,387 billion VND, up 16.9% in number of enterprises, and 38.7% in the volume of capital against the same period last year. Besides, work started on a 170 million US$ project in the Da Nang Hi-tech Park, and 7 other projects in other industrial parks worth 193 billion VND in total.

Currently, there are 27,577 enterprises, branches, and representative offices operating in the city with a total registered capital of 169,556 billion VND.

The Thursday online seminar saw many constructive recommendations on affirming Da Nang’s stature as an attractive destination to invest from representatives of the participating units, namely the city’s Department of Planning and Investment, the Authority of the Da Nang Hi-tech Park and Industrial Parks, the city’s Investment Promotion and Support Board.

In particular, the participants pointed out to major limitations arising from the city’s FDI segment, including modest investment capital and the ineffective operation of some FDI projects.

In an attempt to promote investment attraction activities in the coming time, focus will be on completing mechanisms and policies, promoting infrastructure construction, preparing procedures for the implementation of key projects, enhancing investment promotion, give more effective supports to investors, speeding up administrative reforms, fostering IT application, and handling  investment procedures in a prompt and effective manner.