In 2019, Da Nang has been focusing on accelerating administrative reforms, and facilitating local-based businesses to develop stably. The purpose is to reach its targets of ensuring a fair and favourable environment for both domestic and foreign businesses, as well as promoting innovation and startup in the locality.

Workers at the Hoa Tho Textiles and Garments Company

According to the latest statistics released by the municipal Department of Planning and Investment, the coastal city is now home to 30,726 domestic and foreign businesses, branches and representative offices, with a total registered capital of 208,190 billion VND.

During the 2018-2019 period, the city authorities granted business registration certificates to a total of 9,965 new businesses, branches and representative offices, with the total investment of 51,233 billion VND.

The impressive figures can be mainly attributed to the great efforts made by the municipal authorities in enhancing the city’s business and investment environment over the last 2 years, and adjusting investment attraction policies in the coming time.

Mr Tran Van Hoang, Deputy Director of the municipal Department of Science and Technology, said, during the year, the city has paid special attention to helping enterprises promote their technological innovation and creative startups, and develop markets for technology.

Most notably, 3 local businesses have been recognised as science and technology firms, bringing the total number of science and technology firms in the city to 8. More than 2.2 billion VND from the city budget has been used to facilitate 16 enterprises to access advanced technologies.

Deputy Director of the Department of Information and Communications Tran Ngoc Thach remarked the city has about 3,800 IT businesses in total, accounting for 14% of the total number of enterprises across the locality.

He added there will be 4 software parks and IT zones in the city by 2025, contributing 10% of the city's gross regional domestic product (GRDP). By 2030, this figure will increase to 6, contributing 15% of the city’s GRDP.

Next year, the municipal authorities will attach the importance to helping local enterprises to overcome their difficulties, enhancing the city’s investment environment, and improve its competitiveness.

Various measures will be taken to improving the city’s positions on the ranking tables of Viet Nam's Provincial Competitiveness Index, and the Provincial Public Administration Reform Index.

Besides, the city will regularly organise dialogues with businesses in order to promptly help them overcome any operational difficulties.

Great efforts will be made to facilitate enterprises to access markets of member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the EU-Viet Nam Free Trade Agreement (EVFTA).

Appeals for investment will be made for the construction of the Hoa Nhon, Hoa Ninh, and the second phase of Hoa Cam industrial zones in the year ahead.

By KHANH HOA, KHANG NINH - Translated by MAI DUNG