Da Nang has been very successful in attracting domestic and foreign direct investment (FDI) flows over the 2015-2020 period, thereby creating a driving force for the city’s growth in a new stage.

Over the past 5 years, the impressive development of infrastructure system in Da Nang has brought positive changes to the face of the city

Over the past 5 years, Da Nang has attracted 52 domestically invested projects totalling 68,419 billion VND outside industrial parks, and 521 foreign direct investment (FDI) projects worth over 1.042 billion USD in total.

Of this, the existing 60 FDI projects have raised their capital with a total additional sum of 144.5 million USD. The capital contribution and the purchase of shares by 605 foreign investors have reached a combined total of 212.812 million USD.

Till date, the city has already received over 145,646 billion VND worth of domestic investment and 3.517 billion USD in FDI.

The impressive results have been mainly attributed to the great efforts made by the Da Nang government in creating an open, fair, transparent, and healthy investment environment for domestic and foreign investors.

In addition to issuing incentive policies for both domestic and foreign investors, Da Nang has hosted a series of annual seminars and events for investment promotion in a bid to attract FDI inflows into the city’s priority sectors. Included are Investment Forum, Talk of Spring, and the annual 'The Year of Investment Promotion' campaign.

Besides, the effective implementation of the Official Development Assistance (ODA)-funded project involving infrastructure and urban environment has helped to bring up a new aesthetically-appealing and modern facelift to the city over the past years.

In the time ahead, Da Nang will continue implementing Politburo's Resolution No 43-NQ/TW about building and promoting the development of Da Nang to 2030, with a vision to 2045.

Top priority will be given to promoting on-site investment promotion activities, and assisting Da Nang businesses to drive their post-pandemic recovery.

In addition, focus will be paid to providing active support for domestic and foreign investors to operate effectively in Da Nang, and developing more innovative strategies for the attraction of new wave of investors.

In the current context of the thriving Fourth Industrial Revolution, or Industry 4.0, the investment attraction into information technology, digital, nanotechnology, biotechnology, high-tech and supporting industries will be bolstered.

Besides, Da Nang government will prioritise attracting domestic and foreign investment inflows into hi-tech agriculture and high-quality services, hereby accelerating the city's economic restructuring.

Greater efforts will be made to boost cooperation with international partners, strategic investors and multinational corporations in the coming time.

Also, heed will be paid to developing Da Nang Hi-tech Park into a national-level multi-purpose hi-tech park in a bid to make it an attractive investment destination for investors from both home and overseas.

By D.M - Translated by M.D