On 19 August (local time), the seminar ‘Da Nang Business Roundtable’ took place in Silicon Valley, USA, in order to introduce the central Vietnamese city’s investment environment to the US investors.

Da Nang People's Committee Chairman Huynh Duc Tho (2nd, left, 2nd row) witnessing the signing of the 3 MoUs

Organised by the Da Nang People’s Committee, the event was within the framework of the ongoing working trip to the USA and Canada by a group of the city leaders, led by the municipal People's Committee Chairman Huynh Duc Tho.

In attendance at the seminar were Deputy Consul General of Viet Nam in San Francisco Ngo Quang Anh and more than 100 delegates who are investors and representatives of  U.S and Vietnamese businesses, organisations, and business associations.

In his remarks at the event, Chairman Tho noted that the bilateral relationship between Viet Nam and the USA in recent years has seen a remarkable progress. Notably, the trade is identified as the most successful aspect of cooperation, creating a firm foundation for the bilateral ties of the 2 countries.

In particular, Da Nang has emerged as one of the most potential investment destinations in Central Viet Nam, and the city administration has always considered the USA to be its key investment promotion market. Da Nang, hence, is rolling out the red carpet for the US investors who boast strong financial and technological capabilities to come to the city to seek investment opportunities.

It is worth mentioning that the city is welcoming the US investment in such aspects as IT, electronic equipment, aerospace, automation, artificial intelligence, support industry, healthcare, education, and real estate.

Also at the seminar, the Da Nang leaders enthusiastically briefed the participating US businesses on the city’s policies on human resource development, the protection of intellectual property rights and preferential mechanism and early support plans for those who want to invest in the city’s Hi-tech and IT parks, legal frameworks applicable to enterprises when deploying investment and business activities in the city.

In reply, the US businesses highly appreciated the future potential of economic cooperation and investment in the central Vietnamese city.

Mr Kevin Loebbaka, Chief Operating Officer for Universal Alloy Corporation, which is the developer of the 170 million US$ Sunshine aerospace components factory at the Da Nang Hi-tech Park, pointed out to his experiences in investing in Da Nang.

He affirmed, with the active support from the municipal administration, the city’s strategic position, ideal living environment and young, dynamic and enthusiastic labour force, Da Nang is a magnet for investors worldwide who intend to expand their production or investment into Southeast Asia.

Meanwhile, Ai20X, which is a premier business network focused on accelerating innovation to the global market, promoting global innovation startups in Silicon Valley and launching products in the USA, introduced the US businesspeople to a wide range of cooperative projects in Da Nang on human resource training, supply chain, business incubation and bilateral investment connectivity.

Within the framework of the seminar, there was the signing of 3 memoranda of understanding (MoUs) between Da Nang and the US businesses.

The first MoU was inked by the Authority of Da Nang’s Hi-Tech Park and Industrial Parks (IPs) and Ai20X on developing the city’s Hi-tech Park into the best place to conduct business incubation and technological innovation, and serve as the gateway for deploying technology transfer, taking advantage of high quality human resources, developing prestigious experts and promoting investment into the park.

The second MoU was signed by the USA-based Meritronics Amt, Inc and the Da Nang IT Park Development JSC on establishing the Trung Nam Meritronics Technology JSC which will provide electronic manufacturing services at this park.

The remaining one was signed by Ai20X and the Da Nang IT Park Development JSC on the provision of services to turn the Da Nang IT Park into ‘Viet Nam’s Silicon Valley’.