The reopening of international routes from Da Nang faciliates face-to-face visits by foreign investors to the city in order to seek investment opportunities instead of online visits due to COVID-19-related travel restrictions, thereby building momentum to drive the city’s economic recovery.

Picture was taken at the Daiwa Vietnam Company Limited located in Hoa Khanh Industrial Park, Lien Chieu District. Photo: KHANH HOA

Positive signs in attracting foreign direct investment (FDI)

After Viet Nam fully reopened international tourism on March 15, Da Nang has continuously welcomed big foreign investors from such countries as Germany, the Netherlands, and Japan to learn about its investment environment.

Leaders of the Authority of the Da Nang Hi-Tech Park and Industrial Parks on March 23 hosted representatives of German autos supplier Brose Group, and the Delegation of the German Industry and Commerce in Viet Nam which is a representative of the German Chamber of Industry and Commerce in Viet Nam.

A representative of the Brose Group unveiled that the company is planning to open an electronics manufacturing plant in Viet Nam. Brose highly appreciated Da Nang for its efficient and well-integrated transport system serving investors in aviation and maritime as well as its professional and excellent logistics service. In addition, the Hi-Tech Park was also praised for its favourable location, beautiful landscapes and adequate auxiliary technical infrastructure.

A delegation of the Dutch business visited Da Nang on March 24 to promote bilateral cooperation with Da Nang. Their visit opened up new opportunities for Da Nang to foster cooperation between its businesses and their Dutch partners that get involved in such fields as trade, investment funds, smart lighting, education, environmental consulting, manufacturing industries, marine logistics services, sustainable design consulting, and business consulting.

Representatives from Sumitomo Corporation, one of the major investment and trading groups in Japan, and BRG Group Viet Nam, on March 25 met with Da Nang’s leaders to report the results of their research in some of their proposed projects in the city.

Sumitomo Group and BRG Group have together studied the expansion of subdivision planning projects on the basis of adjustments to comprehensive masterplan for Da Nang to 2030 with a vision to 2045, including the 1,300ha expanded Da Nang Airport sub-division and seaport urban area.

The above-mentioned positive results have been mainly attributed to the city’s great efforts in launching online investment promotion programmes over the past two years of COVID-19-related disruptions to flows of foreign direct investments.  

Leaders of German autos supplier Brose Group met with leaders of the Authority of the Da Nang Hi-Tech Park and Industrial Parks on March 23 to learn about the city’s investment environment. Photo: TRIEU TUNG

Attracting FDI projects for focus developments

Optimistic signs in FDI attraction in Da Nang have also partly attributed to active support from foreign diplomats to make connections between domestic and foreign busineses.

The cooperation between Sumitomo Group and BRG Group is an example. Consul-General of Japan in Da Nang, Mr Yakabe Yoshinori, played an important role in connecting the Japanese group to the Vietnamese company.

Mr Yakabe Yoshinori expressed his delight at fruitful results from cooperation between the Japanese Group and the Vietnamese company.

The Japanese diplomat remarked that Da Nang is one of the most important partners in Japan's foreign policy. Hence, the Japanese government has attached great importance to pouring investment into the Lien Chieu Port Project which is located at the starting point of Japan's planned East-West Economic Corridor. Mr Yakabe Yoshinori expressed his expectation that Da Nang and Sumitomo Group would work together to sucessfully build Lien Chieu Port infrastructure and other facilities.

Mrs Nguyen Thi Nga, the Chairwoman of the Board of Directors of BRG Group said that BRG Group and Sumitomo have worked together to deploy an urban development project for Da Nang with an investment of USD 4.2 billion. The two companies are planning to cooperate in investing in infrastructure development in airport, seaport, and logistics services. Leaders of the two companies have shown keen interest to invest in Da Nang as the city boasts huge potential investment opportunities. Therefore, they are determined to successfully carry out their projects in Da Nang.

The Da Nang Public Lighting JSC on March 25 signed a strategic cooperation agreement with the Signify Vietnam Co., Ltd. under the Dutch multinational conglomerate corporation Philips Electronics NV, to implement public artistic lighting projects, including ‘River of Light’, under the witness of Da Nang People's Committee Vice Chairman Le Quang Nam and Consul-General in Ho Chi Minh City Daniel Stork.

Under the agreement, the two companies will cooperate to carry out lighting projects in Da Nang with a focus on providing consulting, design, training, technology transfer, software support and intelligent lighting control. These projects will feature the connection between artistic lighting systems of the bridges via Interact Landmark software applications which are specifically designed to bring together connected lighting systems and the data that those systems collect with other IoT solutions. Once completed, the ‘River of Light’ project is highly expected to bring a more attractive look to the Han River as well as elevate the city’s capacity in artistic urban lighting.

Da Nang’s investment attraction strategy aims to lift its international investment performance, by enabling a more concerted and better integrated city-wide effort that targets the attraction of high quality investment to the city. The heed is paid to attracting FDI projects for focus developments, ensuring harmony between attracting large and small investors. High prioritity is given to connecting Da Nang to global production and supply chains, as well as attracting investment in the green economy, high technologies, auxiliary industry, and advanced management techniques.

Reporting by TRIEU TUNG – translating by H.L