The Daiwa Vietnam Co., Ltd, on Tuesday, officially started construction work on the sports equipment production factory project in the Hoa Khanh Industrial Park.

Da Nang Party Committee Deputy Secretary cum municipal People’s Council Chairman Luong Nguyen Minh Triet (5th left), and People’s Committee Vice Chairman Ho Ky Minh (4th left) attending the groundbreaking ceremony for the sports equipment production factory project on Tuesday morning

The 40 million USD project was granted investment license by the Authority of Da Nang's Hi-Tech Park and industrial parks at the 'Talk of Spring 2019' programme.

This is the third project to have been developed in the Hoa Khanh Industrial Park by the Daiwa Vietnam Co., Ltd, since 2005, helping to raise the company’s total registered investment capital in Da Nang to 90 million USD.

In his remarks at the groundbreaking ceremony for the project, Da Nang People’s Committee Vice Chairman Ho Ky Minh congratulated the company on its new project in Da Nang.

He also hailed the company for its great efforts to creating employment opportunities for locals and making great contributions to the city budget over the past 15 years.

Vice Chairman Minh said proudly that Da Nang's investment promotion efforts both at home and overseas have yielded fruitful results in recent years.

Da Nang has to date attracted 52 Japanese-invested projects totalling around 645 million USD.

Mr Minh hoped that more foreign investors, including those from Japan, would pour their money into high-quality projects in Da Nang in the time to come. He vowed that Da Nang government will be always willing to create the most favourable conditions for foreign investors to seek investment opportunities and operate effectively in the city.

By KHANH HOA - Translated by M.D