Despite being affected by the COVID-19 resurgence, Da Nang’s investment attraction performances have recently showed signs of bouncing back. 

In the first half of this year, the municipal administration issued in-principle investment policy decisions to 11 domestically invested projects worth a total of VND 2,015 billion, 2 of which will be developed outside industrial zones (IZs) at a sum of more than VND320 billion, plus 8 others inside the Da Nang Hi-tech Park and IZs with a total value of more than VND188 billion.

Besides, investment licences were granted to 16 new FDI projects with a total registered capital of more than US$147 million.

Till date, the city has attracted 712 domestic projects valuing over VND149,700 billion in total, of which 343 are outside the Da Nang Hi-tech Park and IZs with a combined total capital of VND121,509 billion, whilst 368 ones totalling VND26,696 billion are inside the Hi-tech Park and IZs.

Meanwhile, 902 FDI projects worth over US$3.86 billion are still valid at present.

With regard to business registration, from the beginning of the year to June 15, a total of 2,107 companies, branches and representative offices worth a total of VND11,262 billion were set up, a rise of 6.4 % and 4.3 % in the number of newly-established firms and in the total registered investment capital respectively, compared to the year-ago period.

The above-mentioned figures demonstrate impressive results in terms of investment attraction recorded in the first half of this year, especially in the times of the complicated developments of COVID-19 adversely affecting the whole country and the globe at large.

According to Chief of the Office of the Department of Planning and Investment Tran Van Hoang, although no investment promotion events were held abroad due to the pandemic, the Da Nang administration still actively promoted the city’s image and its investment environment features through many channels. Most notable amongst them was the launch of investment promotion webinars targeting its foreign partners.

Other measures included the promulgation of lists of key projects available for investment and the adequate and timely provision of information related to aspects in which investors show their interest. 

Also, functional local agencies actively guided investors how to complete compulsory administrative procedures and be available to solve difficulties and problems facing FDI enterprises operating in the city.

According to the municipal Investment Promotion Agency, the organisation of investment promotion webinars aims help minimize the risk of COVID-19 infections.

In reality, many strategic investors still the opportunity to learn more about Da Nang’s business environment and its advantages before making investment decisions.

Also, through such virtual conferences, the city finds it efficient call for more investors with good financial and technological capabilities to seek cooperation opportunities here.

General Director of Saigon Telecommunication and Technologies Joint Stock Company Nguyen Cam Phuong said, Da Nang has always pioneering in ensuring the transparency in the investment environment as well as timely providing information on tax and land policies for potential investors.

The municipal government has always committed to creating the most favourable conditions for investors to operate in an effective manner in the city.

Reporting by THANH LAN – Translating by A.T