Da Nang will perform investment promotion activities in South Korea which is one of its major and important partners in many aspects in the time to come.

Representatives of Da Nang government answering questions from South Korean investors at the Thursday webinar

The statement was made by Da Nang People's Committee Vice Chairman Ho Ky Minh at the Thursday webinar held in the city on attracting South Korean investors.

Co-hosted by Da Nang government and the Saigon Telecom Technology JSC (SAIGONTEL), the virtual event attracted representatives from over 100 South Korean businesses.

On the spotlight at the online event were investment opportunities in Da Nang and its incentive policies for foreign investors, including those from South Korea.

Addressing the online event, Vice Chairman Minh revealed, under Da Nang's development strategies to 2030, with a vision to 2045, Da Nang will focus on promoting the development of three main pillars, namely tourism, hi-tech, and marine economy.

Additionally, special attention will be paid to developing on 5 strategic breakthroughs, namely tourism, high-quality services associated with vacation properties; seaports and aviation associated with logistics services; hi-tech industry in combination with the construction of innovative start-up urban area; IT, electronics and telecommunications associated with digital economy; and hi-tech agricultural products and fisheries.

Also at the event, Mr Minh introduced participating South Korean businesses to incentive policies for foreign investors when pouring money into Hi-tech Park, Dedicated IT Park and software parks in Da Nang.

Besides, representatives of the ICT Vina medical device manufacturing plant, and the SAIGONTEL, both located at the Da Nang Hi-Tech Park, shared their experiences in doing business in the city.

Lee Sungyung, Director of the representative office of the Korea Trade-Investment Promotion Agency (KOTRA) in Da Nang, said that a growing number of South Korean companies has showed their keen interest in investing into Da Nang, and Central Viet Nam at large, in such aspects as textile and garment, software development, real estates, and tourism.

South Korea is one of Da Nang’s major and important partners in many aspects. South Korea is the number one source of FDI for Da Nang, delivering 232 projects totalling over 376 million US$, and this country is the fourth largest investor in Da Nang in terms of the total registered investment capital channeled into the city.

Previously, in light of the Covid-19 outbreaks, Da Nang successfully organised 3 webinars for investment promotion in a bid to attract FDI investment from Europe, America, Taiwan (China) and Japan into the city’s priority sectors.

On Thursday afternoon, a group of representatives from 30 South Korean businesses visited the Da Nang Dedicated Information Technology (IT) Park in Hoa Vang District's Hoa Lien Commune in order to learn about the investment climate there.

Mr Nguyen Anh Huy, General Director of the Da Nang IT Park Development JSC, briefed his South Korean guests on the Park's development strategies in the years ahead, and its policies to attract new technology projects.

He added the Park's design is similar to the Silicon Valley model in the U.S.A. and the Park is expected to become one of the best IT development communities in Asia in the near future.

In the next 3-5 years, the occupation rate of the rental space of the fully-operational 1^st stage of the Park will reach 100%. Therefore, the city is now pushing ahead the infrastructure development of the 2^nd stage of the Park in a bid to need the increasing demand from both domestic and foreign investors.

By KHANG NINH, TRIEU TUNG - Translated by M.D