During the 2016 - 2020 period, Da Nang saw noticeably encouraging results from having inflows of domestic and foreign investment channeled into the Hi-Tech Park and industrial zones (IZs), which has helped increase their proportion in the city's GRDP (gross regional domestic product) structure.

Production and business activities of domestic and FDI enterprises operating in industrial zones has contributed significantly to the Da Nang socio-economic development. Workers are seen working diligently at Key Tronic Vietnam Co., Ltd. in the Lien Chieu District-based Expanded Hoa Khanh Industrial Park.

During the five-year review period, the Da Nang Hi-tech Park and IZs attracted a total of 153 projects, of which 109 were domestic projects worth a sum of 9,872 billion VND and the rest were FDI ones with a total registered investment capital of over 507.6 million US$.

To date, the Da Nang Hi-tech Park and IZs has housed 490 projects, of which 362 are domestically invested with a total of about 25,000 billion VND in value, and 128 FDI ones totalling more than 1.59 billion US$.
In his remarks, Head of the Authority of the Da Nang Hi-tech Parks and IZs Pham Truong Son affirmed the past 15 years witnessed domestic and FDI projects play an important role in promoting the city’s socio-economic development.

Prominently, during the 2016 - 2020 period, production and business activities of domestic enterprises and FDI enterprises contributed an average of more than 9% of the whole local economy’s added value.

In particular, the non-state sector accounted for over 49.5% of the city’s total development investment inflows, whilst the FDI sector made up for over 10.3%.

Enterprises operating at the Da Nang Hi-tech Parks and IZs have together created employment for a combined total of more than 90,000 job seekers hailing from Da Nang and elsewhere in Viet Nam.

There is no denying that foreign investment has promoted the city’s deeper international integration and boosted its bilateral multi-faceted cooperative ties with many countries and territories all over the world.

As one of the first foreign investors to have been present in Da Nang, Daiwa Vietnam Co., Ltd has moved deeper into the Da Nang market as it has broken ground on its own third factory there.

This factory is the first and only fishing rod production site in Viet Nam, designed as an eco-production in line with Da Nang’s goal of turning itself an eco-city in the future.

The Daiwa Vietnam’s latest investment decision re-affirmed that Da Nang is a bright example of ‘Birds nest on good land’.

The first Daiwa Vietnam factory in Da Nang was built in 2006, whilst the second opened two years later, and then, the third whose commence started a few days ago in the Hoa Khanh Industrial Park raises the company’s total investment in the city to 90 million US$ till date.

“At present, we are carrying out our great mission to make a contribution to Da Nang’s growth”, said Daiwa Viet Nam General Director Ikeda Naoatsu.

The presence of domestic and foreign projects has contributed to increasing the city's production and business capacity. Here is the inside of the Hifi Joint Stock Company in the Lien Chieu District-based Hoa Khanh Industrial Park

Under the municipal administration-approved adjustments and supplements to master plans for boosting Da Nang’s industrial parks by 2020, with a vision towards 2025, the city is striving to reach a number of its own targets regarding hi-tech progress steps in the time ahead.

In details, over the 2020 – 2025 period, at least 3 projects worth over 100 million US$ each will be deployed in the Hi-tech Park, and this park’s contribution will have accounted for at least 10% of the city’s gross regional domestic product (GRDP) by 2025.

By 2030, the Da Nang Hi-tech Park will be on par with the Ha Noi-based Hoa Lac Hi-tech Park and the HCM City Hi-tech Park, thereby turning itself into the major driver of the socio-economic growth of the whole Central Viet Nam and Central Highlands regions.

Actually, these above-mentioned orientations will create many challenges for the city, including how to penetrate more deeply in the global value chain and attract more internationally renowned brands- invested projects in hi-tech industries in the time to come.

As planed, importance will be attached to completing infrastructure construction as soon as possible at the 2^nd stage of the Hoa Cam Industrial Park (IP), and the Hoa Nhon and Hoa Ninh IPs, and in parallel with accelerating the progress of the Hoa Khanh Nam, Cam Le, Hoa Nhon, Hoa Hiep Bac industrial clusters.

In terms of future development orientations, Da Nang will give the priority to developing clean hi-tech industries and environmentally-friendly products, encouraging the utility of clean energy sources in production activities and low-emission technologies. Economic development associated with environmental protection is one of the most important requirements set for Da Nang, Head of the Authority of the Da Nang Hi-tech Parks and IZs Pham Truong Son affirmed.

In the coming time, the priority will be given to attracting FDI inflows into such aspects as ICT, digital, nano-engineering, bio-industry, hi-tech, and research and development (R&D) projects

By KHANH HOA- Translated by A.T