In an effort to implement its ‘2019: Year of Continuing Investment Attraction’ landmark campaign, in recent months, Da Nang has achieved many positive results from FDI attraction with an impressive increase in all criteria. They are the number of projects, the amount of newly registered and additional investment capital, and the value of shares purchased by foreign investors. How to create new impulses to absorb even more investment capital is now one of the issues of deep concern for the city.

Da Nang Party Committee Secretary Truong Quang Nghia and municipal People’s Committee Chairman Huynh Duc Tho visiting the 170 million US$ Sunshine aerospace components manufacturing factory developed by the Universal Alloy Corporation-UAC at the Hi-tech Park.

Notably, the Japan-based Mikazuki Group has revealed its plan to build a night market combined with a walking street worth a total of 50 million US$ next to its ongoing 100 million US$ Mikazuki Spa & Hotel Resort project in Hoa Hiep Nam Ward, Lien Chieu District. In particular, the new project will be similar to those in Tokyo.

Currently, there are 19 FDI projects with a total registered capital of 4 billionUS$, having the municipal administration-granted feasibility study certificates, and all of them are expected to serve a driving force for the city’s progress.

The city authorities have always dealt with any recommendations made by foreign investors, and helped them overcome their difficulties, especially their growing demand for premises for their production and business activities.

Mr Nguyen Ha Bac, the Acting Deputy Director the municipal Department of Industry and Trade, said, in addition to urging the Ministry of Industry and Trade to proceed with legal procedures, his agency has also quickly handled administrative procedures on the appraisal of electricity and lighting supplies for projects, and offered other active support of all kinds.

Functional bodies have guided the developer of a factory manufacturing medical robots and compressors in the city to complete necessary investment registration procedures, and dealt with a proposal made by the Daiwa Vietnam Co., Ltd on land lease to expand its sports equipment factory.

Likewise, the municipal Department of Natural Resources and the Environment, in collaboration with the city’s Department of Finance, has completed the land price determination procedures, and submit them to the city’s Appraisal Council for consideration, and then the municipal People’s Committee for approval, so that the developer of a riverside tower project can fulfil financial obligations to start work on it.

Meanwhile, the municipal Department of Construction and the Land Fund Development Centre have jointly submitted the detailed 1:500 planning map to the municipal government for approval in order to set up a land use right auction plan for the Danang Gateway project, which is a complex of high-rise apartment buildings, trade and finance centre, a casino, and entertainment areas.

In his recent meeting with the city leaders, Mr Douglas Foo, the Vice Chairman of the Singapore Business Federation, Founder and Chairman of Sakae Holdings Ltd, and President of the Singapore Manufacturing Federation, affirmed Singaporean businesses’ willingness to seek cooperation and investment opportunities in Da Nang in the aspects of smart city building, infrastructure development, environmental remediation.

He noted that Singaporean investors are ready to pour their money into aspects in which the city is appealing for investment at the Hi-tech Park.

The municipal People’s Committee has asked the city’s Da Nang Investment Promotion and Support Board to focus on preparing procedures to appeal for investment in key projects and the establishment of shopping malls, outlets, duty-free shops.

Also, more investment promotion programmes will be held in the city’s key markets to approach potential investors in the coming time.