The Da Nang government has issued the Investment Promotion Programme in 2022 with the goal of effectively implementing the 2022 theme ‘The year of safe and flexible adaptation to and effective control of COVID-19 and economic recovery and development’.

Workers at the Daiwa Viet Nam Co., Ltd.,, based in the Hoa Khanh IP in Lien Chieu District. Photo: THANH LAN

The city will strive to reach the targets of building a highly competitive investment environment, attracting more investment, meeting the needs of investors in terms of mechanisms, infrastructure and human resources and continuing to promote regional linkages and ensuring investment attraction activities that will bring about sustainable economic development results.

In a bid to reach the above-mentioned targets, the city will focus on building an investment promotion programme in the direction of innovation and initiative with a priority to strategic markets for key fields such as high technology, IT and high quality services.

On the spotlight of the Investment Promotion Programme in 2022 are the research and assessment of market potentials, trends and investment partners, the introduction of the city’s policies, potentials, opportunities and investment connections, supportive schemes for investment attraction, the building of an information system and database for investment promotion activities, a list of investment projects.

In additionally, domestic and international cooperation activities on investment promotion will be organised.

Some outstanding specific tasks will include the organising of investment promotion activities on the occasion of the Route Asia 2022 that is slated to be held in Da Nang, and the development of infrastructure for investment, production and business activities at the city’s railway station, the airport, seaports, the Hi-Tech Park, Supporting Industrial Zone of the Hi-Tech Park and and Software Park No. 2.

As for FDI attraction, Da Nang will multilateralize and diversify its FDI attraction schemes to attract more investment from important foreign markets such as Japan, the Republic of Korea and the U.S., with a focus on targeting large corporations belonging to the Forbes 500 and businesses headquartered in developed countries, including those in the Group of Seven (G7) and the Organisation for Economic Cooperation and Development (OECD).

With regard to domestic investment attraction efforts, importance will be attached to attracting investment from large domestic corporations and enterprises and effectively exploiting financial and technological resources from overseas Vietnamese in the R&D, IT and hi-tech industries.

According to the Da Nang Investment Promotion Agency, Da Nang aims to attract about US$7 billion worth of domestic and foreign investment by 2030 (about US$3 billion in the 2021 - 2025 period and US$4 billion in the 2026 - 2030 period).

The key aspects calling for investment flows include IT, high-tech industry, supporting industries, logistics services, commerce, tourism, high-value real estate, and high-quality education, healthcare and financial services.

Reporting by PHONG LAN- Translating by A.THU