In 2022, the world economy’s decline, the COVID-19 and other incidents have a significant impact on the domestic situation, but this is still a year that is considered quite successful in the field of investment attraction.

Production activities recorded at the Sunshine aerospace components factory, developed by the US-based Universal Alloy Corporation Asia Pte. LTD-UAC, in the Da Nang Hi-Tech Park. Photo: THANH LAN

The bright spot is that the city successfully organised the Da Nang Investment Forum in 2022 at which the Da Nang Government granted the investment registration certificate and decisions approving investment and research policies, notices of the research, investment opportunities and Memoranda of Understanding on investment research cooperation for 27 projects with a total proposed investment capital of more than US$5.6 billion.

Another highlight is that the city speeded up the process of calling for investment flows, commence work on many big projects such as Lien Chieu Port, complex of financial, commercial, entertainment, casino and high-class apartment buildings, Da Nang Creative Space; International Trade Centre and Da Nang International Hospital. 

According to the Department of Planning and Investment, as of November 15, 2022, the city had issued investment policy decisions and investment registration certificates for 29 domestically-invested projects with a total investment capital of more than VND 10,058 billion, twice as much capital as in 2021, in which there are 10 projects outside industrial parks (IPs) tortalling more than VND 6,136 billion and 19 projects inside the Da Nang Hi-tech Park, the Da Nang concentrated IT Park and IPs with a total investment of more than VND 3,922 billion.

The city granted 42 new FDI projects with a total registered investment capital of VND 69,356 million, issued new business registration certificates to 4,169 enterprises, branches and representative offices, with a total registered charter capital of more than VND 21,049 billion, a rise of 29.5% in the number of enterprises and an increase of 37.5% in the number of capital compared to 2021.

The number of enterprises returning to operation also went up by 28.5% over the same period in 2021, equivalent to 2,146 enterprises. This was an impressive result for the city in the wake of many difficulties and challenges.

In 2022, the city will set up an interdisciplinary working group on investment promotion and support, complete the preparation process for investment projects not using state budget capital that are implemented outside IPs, compile up the project ‘Ways to call for large investors to do business in new IPs, namely Phase 2 of Hoa Cam, Hoa Nhon, Hoa Ninh and the supporting industrial zone of the Da Nang Hi-tech Park.

Engineers are seen working at the Da Nang Branch of the FPT Software Co.,Ltd. Photo: THANH LAN

Representatives from local departments and agencies actively and flexibly worked with 60 potential investors to call for investment, and at the same time supported businesses, investors before, during and after the issuance of investment registration certificates.

Besides, the city welcomed 153 international delegations in 2022, 108 higher than that in 2021. In addition, a plan to promote and strengthen the cooperation relationship between Da Nang and European partners in the 2022-2025 period and promote economic diplomacy to serve the country's development up to 2030 will be mapped up.

In 2023 and the coming years, the city will focus on building the project ‘International integration and cooperation of Da Nang to 2030’, implement projects, plans and programmes on economic diplomacy, strengthen cooperation, friendship and investment promotion relations between Da Nang city and other countries.

According to the Department of Planning and Investment, one of the tasks and solutions for socio-economic development in 2023 is to continue to create an open investment and business environment, reflected in the removal and resolution of difficulties and maximum support for businesses in handling administrative procedures, business expansion and investment capital increase.

Importance will be attached to effectively deploying the research project calling for large investors to pour their investment into new IPs and the supporting industrial zone of the Da Nang Hi-Tech Park.

In addition, the city will set a sight on effectively using resources, specific mechanisms and policies to promote the long-term development of Da Nang Hi-Tech Park in the right direction to develop it into a multi-functional high-tech park at the national level, with  services developing in the direction of creating new competitiveness for businesses and investors.

Reporting by THANH LAN - Translating by A.THU