Da Nang is committed to creating favourable conditions for Japanese businesses to effectively carry out projects in the city.

Da Nang Party Committee Secretary Nguyen Van Quang speaking at the seminar

The statement was made by municipal Party Committee Secretary Nguyen Van Quang at an investment promotion seminar held in Japan’s Chiba on Tuesday morning.

In attendance at the event were Chargé d'Affaires of the Vietnamese Embassy in Japan Nguyen Duc Minh, municipal People's Committee Vice Chairman Ho Ky Minh, and representatives from more than 70 Vietnamese and Japanese agencies and businesses.

Co-organised by the Da Nang Investment Promotion and Support Board and the Mikazuki Corporation, the seminar aimed to introduce the city’s investment environment to Japanese businesses, and share experience of Japanese businesses operating in the city.

In his speech released at the event, Secretary Quang emphasised the highlights of the Viet Nam - Japan cooperation relations. In which, 2023 is considered an important milestone when Viet Nam and Japan celebrates the 50th founding anniversary of their diplomatic ties.

As an economic, political and cultural centre, and a growth nucleus of the key central economic region, by 2022, Da Nang well controlled COVID-19 and gained many remarkable socio-economic achievements.

Specifically, the central city of Da Nang ranked third in the country in gross regional domestic product (GRDP) growth in 2022 with 14.05%. In addition, it was recognised with many important awards and titles voted by prestigious domestic and foreign organisations.

Also, the city took the lead in the Viet Nam ICT Index and the Provincial Public Administration Reform Index (PAR INDEX). It won the Asia's Leading Event and Festival Destination Award in 2022 and is considered one of the localities with the best investment and business environment in Viet Nam.

With a goal set for 2030 and a vision to 2045, Da Nang targets to turn itself into one of the major socio-economic hubs of the country and Southeast Asia.

Delegates at the seminar

Mr. Quang, therefore, took the opportunity to appeal for more investors from Japan to invest in the city in the time to come. He pledged that the municipal authorities will create favourable conditions for Japanese businesses to successfully deploy projects in the city.

Speaking at the seminar, Mrs. Huynh Lien Phuong, Director of the Da Nang Investment Promotion and Support Board, said that Japan was one of the city’s strategic partners in investment promotion activities.

Direct investment capital from Japan over the years has actively contributed to the overall development of Da Nang. Japan is currently the largest investor in the city in terms of investment capital with more than US$1,042 billion from 228 projects.

The majority of Japanese-invested projects focus on manufacturing and processing, high technology, investment information, real estate and education. One of the highlights is the US$3,900 billion Da Nang - Mikazuki Japanese Resorts & Spa complex in Hoa Hiep Nam Ward, Lien Chieu District.

As a key market with its financial and technological potential, Da Nang is now calling for investment into such spheres as high-tech industry, information technology, R&D, supporting industry, port infrastructure development, healthcare and education.

In the video sent to the seminar, Chief Representative of the Hanoi Office of the Japan External Trade Organization (JETRO) Nakajima Takeo said that Japan now ranks third in terms of investment capital and second in terms of registered project numbers in Viet Nam. The number of Japanese projects tended to decrease after COVID-19, but the registered investment capital was consolidated thanks to the production and energy projects registered to increase capital.

Mr. Nakajima Takeo remarked Da Nang was one of the central regional localities where many foreign businesses, including those from Japan, have invested.

Da Nang leaders witnessing the signing ceremony between Da Nang and Japanese enterprises

Mr. Odaka Yoshimune, Chairman of the Board of Directors of Mikazuki Corporation, expressed his gratitude to Da Nang’s leaders for their active support to ensure the on-schedule completion of the Mikazuki Resort & Spa project in the city.

The Corporation promises to continue its efforts to contribute to the city's economic development in the coming time, he added.

Mr. Nakagawa Tetsuyuki, General Director of Aeon Mall Vietnam Group, said that since 2018, the Aeon Mall Company and the Aeon Group have identified Viet Nam as a key investment market in Asia. Up to now, the Aeon Mall has developed a network of shopping malls across Viet Nam.

Currently, the Aeon Mall Company is studying to choose a suitable location to develop a trade centre in Da Nang.

Da Nang People's Committee Vice Chairman Ho Ky Minh speaking at the event

Mr. Nakagawa Tetsuyuki hopes to receive support from city leaders so that Aeon Mall can realise the implementation of the Trade Center project as soon as possible in the city.

During the seminar, the attendees exchanged about issues of deep concern from investors, including investment procedures and incentive policies for the international hospital project in the city; conditions and advantages when enterprises set up their head offices in the city; and the difference in terms of living and investment environment between Da Nang and other Vietnamese localities.

Meanwhile, municipal People’s Committee Vice Chairman Ho Ky affirmed that his city was committed to continuing to improve its investment environment, simplify administrative procedures, and regularly organise direct dialogue with investors and businesses to listen to their ideas and suggestions.

City leaders take souvenir photos with representatives from Da Nang and Japanese businesses signing investment cooperation agreements

On the occasion, the seminar attendees witnessed the signing of memorandum of understanding on implementing rehabilitation and healthcare services for the elderly between the Thanh Dat Group Co., Ltd., the Magos Co., Ltd under Metran Co., Ltd. and the Heisei Medical Welfare Group.

Also, the Thanh Dat Group Co., Ltd., the Magos Co., Ltd, and the Minatomirai Group inked a cooperation agreement on providing healthcare and beauty care services in Da Nang.

Reporting by GIA MINH - Translating by M.DUNG