Over recent years, the Da Nang Science and Technology Development Fund has granted millions of VND to many fully eligible businesses citywide to drive their technology innovations with a focus on designing technological equipment, and creating highly-competitive products. This is one of the municipal government-issued most remarkable support policies to help Da Nang businesses recover from coronavirus pandemic.

Workers at the Ha Giang Phuoc Tuong Mechanical Engineering JSC

Late last month, 400 million VND in funding went to the Hoa Cam Industrial Park (IP) -based Chau Da Co., Ltd to support the design and manufacturing of automatic face mask making machines with a capacity up to 100 pcs /min each. Till date, these Chau Da-produced machines, priced at 1.6 - 1.8 billion VND each, have been purchased by tens of customers from both home and overseas.

In particular, in 2016, this company received financial aid from the Fund to make a CNC cutting machine, which has played an important role in improving the cutting accuracy, reducing the machining time, and bringing high profits. Notably, the quality of the CNC cutting machine was quite similar to that of imported one, but the locally-made machine costs only half of imported one.

Likewise, the Hoa Khanh IP-based Truong Giang Electric JSC has received 600 million VND in funding to design the AMADA LCG3015AJ Fiber Laser Cutting Machine. This machine will be manufactured in line with the Japanese standards, featuring high precision and the connected production line, hereby saving input materials and doubling productivity.

Since 2016, Da Nang government has provided over 4.4 billion VND of funding for a combined total of 28 companies citywide to drive their technology innovations.

Of this, between January and September alone, 10 businesses received more than 1,300 billion VND in grants. Included are Ha Giang Phuoc Tuong Mechanical Engineering JSC, the Chau Da Co., Ltd. and QCM Technologies JSC.

Last year, the Ha Giang Phuoc Tuong Mechanical Engineering JSC recorded an 86% increase in revenue against 2018, whilst a 35% rise was generated by the Chau Da Co., Ltd.

In addition, given the Da Nang authorities’ active support, the Thanh Khe District-based Dannapha Pharmaceutical JSC has been eligible for accessing financial aid from the National Technology Innovation Programme to deploy the ‘Research and application of automation technology in pill production’ project.

In his perspectives, Deputy Director of the Da Nang Department of Science and Technology Tran Van Hoang highlighted the significance of financial support for businesses in boosting their technology innovations and business management capacity, hereby accelerating the formation of more S&T enterprises across the city and bringing up higher revenues for them.

By PHONG LAN- Translated by A.T