Administrative reform outcomes in the central city of Da Nang have helped the city secure foreign investors’ confidence, contributing to attracting more FDI in the locality.

An aerial view of Da Nang city (Photo: VNA)

According to the municipal Department of Home Affairs, Da Nang has simplified more than 300 administrative procedures over the past 10 years while implementing 15 projects linking procedures in different sectors and shortening the time for responding to administrative requests by 20 percent in many areas.

Thanks to this success, the city has enjoyed fruitful results in FDI attraction.

Most recently, authorities granted an investment licence to a semiconductor manufacturing project worth 110 million USD - the second largest foreign-invested project at the Da Nang Hi-tech Park.

Called United States Enterprises, the factory will cover a total area of 102,200 sq. m, with the first stage covering more than 61,000 sq. m and costing 66 million USD.

Construction is scheduled to commence in the second quarter of this year and the plant will be put into operation two years later.

The United States Enterprises’ plant specialises in the production of semiconductor materials for equipment in the electronics industry.

The largest project at the park is the UAC project manufacturing aeronautical components, said Pham Truong Son, head of management of hi-tech and industrial parks in Da Nang.

The park has attracted 23 projects to date, including 11 FDI projects worth a total of 510.1 million USD and 12 domestic ones worth a total of 6.3 trillion VND (273 million USD).

A report from the city’s Department of Planning and Investment said the city last year attracted 87 new FDI projects worth 129.17 million USD, and more than 80 million USD was added to 20 existing projects. Foreign investors also poured in 3.63 million USD in capital contributions and share trading in the city.

Le Trung Chinh, Chairman of the city People’s Committee, said that in the future, the city will continue building and completing policies on organisation, thus improving the efficiency of public services.

He said that IT application in administrative reform will be strengthened, with the completion of a shared data centre for departments, sectors, and localities.

Da Nang will continue to upgrade the investment and business environment and support foreign investors, he said.

He added that in the future, it will prioritise FDI projects in high-tech areas such as the ITC industry, digital technology, nano-technology, biotechnology, new materials, and supporting industries.

Source: VNA