Da Nang’s investment attraction activities have been promoted on the basis of giving priority to hi-tech and environmentally- friendly projects for the sake of the city’s sustainable development.

The city gained positive results from investment attraction in the 9-month period. In the photo is the inside of the TCIE Vietnam Co., Ltd.

According to the municipal Department of Planning and Investment, the city has to date attracted 326 domestically-invested projects with a total registered investment capital of 99,124 billion VND, and 783 FDI ones totalling 3.4 billion US$.

With regard to FDI projects, between January and September, there were 101 newly-registered projects totalling over 416.3 million USD, with each valued at 41.2 million US$, up 8 times in the total capital and 78 times in terms of average capital/project compared with the same period last year.

Also during the 9-month period, the existing 11 FDI projects raised their capital with a total additional sum of 117.32 million US$, up nearly 63 times in the amount of additional capital versus the year-ago period.

Besides, the capital contribution and the purchase of shares by 130 foreign investors reached a combined total of 98,564 million US$.

In terms of FDI attracting areas, there were 2 newly-approved projects with a total registered capital of 172 million US$ in the Da Nang High-Tech Park, 5 others worth 27.45 million US$ in other industrial parks (IPs), and 94 others totalling 216.8 million US$ outside IPs.

The above figures clearly demonstrated the fact that the city’s investment attraction since the start of this year has been significantly enhanced both in terms of the project number and the amount of investment capital in newly-registered projects, those with additional capital and the capital contribution and the purchase of shares by foreign investors, as compared to the same period last year.

At the Spring Dialogue 2019 held in March in Da Nang, the municipal government issued investment decisions and granted investment registration certificates to 8 projects worth nearly 500 million USD in total.

So far this year, construction work is progressing well on 5 of these projects.

Infrastructure construction at the Da Nang Hi-Tech Park is progressing well to serve the city's investment attraction activities.

Of these under-construction projects, the 170 million US$ Sunshine aerospace components factory, developed by the US-based Universal Alloy Corporation Asia Pte. LTD-UAC, is now one of the largest FDI projects operating in the city.

The investor is currently testing the technology line and production equipment, and this remarkable project is expected to be officially put into operation next month.

Next year, the Sunshine factory is scheduled to start exporting its products to UAC's partners worldwide, including Boeing and Airbus.

This important project aims to export aircraft components to North America and Europe worth an estimated 25 million$ by 2021, 85 million$ a year later, and 180 million$ annually from 2026 onwards.

Meanwhile, the deployment of the 100 million US$ Mikazuki Spa & Hotel Resort project in Lien Chieu District’s Hoa Hiep Nam Ward, developed by the Japan-based Katsura Hotel Mikazuki Co. Ltd., is now on track.

There is no denying that these positive results from investment attraction have been mainly attributed to great efforts made by the city authorities in identifying 2019 as a year of promoting investment attraction.

Within the framework of the ‘Da Nang Business Roundtable’ in Silicon Valley, the USA, there was the signing of memoranda of understanding (MoUs) between Da Nang and the US businesses.

Also, many delegations of businesses and economic organisations from Canada, Japan, Hong Kong, Singapore and other countries and territories worldwide paid visits to Da Nang to have an insight into its investment environment.

According to Ms Nguyen Thi Thuy Mai, the Deputy Director of the city's Department of Industry and Trade, Da Nang is speeding up the implementation progress of new IPs and such industrial clusters (ICs) as Hoa Khanh Nam, Hoa Hiep Bac, Cam Le and Hoa Nhon, and hi-tech agricultural production zones in in Hoa Ninh Commune (140ha), Hoa Phu Commune(24.5ha) and Hoa Khuong Commune (26.1ha) in Hoa Vang District.

In particular, it is expected that, next year, the Cam Le IC in the namesake district will come into operation, helping to handle the existing  shortage of production facing some businesses.