One of the five investment attraction orientations of Da Nang's 2023 investment promotion programme is to diversify a network of partners and investment forms, with a focus on attracting domestic and foreign investors with prestigious brands, as well as attracting key investments in the fields of IT and digital transformation infrastructure.

The leaders of the Authority of the Da Nang Hi-Tech Park and Industrial Zones are pictured talking with businesses about the city's investment environment. Photo: THANH LAN

Investment attraction orientations

As stipulated in Decision No. 533/QD-UBND dated March 23, 2023 by the Da Nang People's Committee on the investment promotion programme in 2023, the city improves the efficiency of foreign investment cooperation.

In detail, a close eye is kept on prioritising attracting projects with updated, advanced, high technologies technology in a bid to reduce dependence on markets with many risks and potential for disputes in parallel with calling for investment in aspects serving the Da Nang construction to become a major socio-economic centre of the country, and Southeast Asia at large, towards the goal of a livable coastal city reaching the Asian level.

Especially, heed is paid to raising awareness of cooperation for mutual development ensuring a balance between the interests of the investors and the interests of the State and the people in investment cooperation activities in the spirit of harmonisation of benefits and sharing risks, in compliance with conditions on sustainable development.

Notably, the city shall maintain the improvement and removal of outstanding difficulties and obstacles in investment process, actively support existing investors, create investors' confidence in the city's investment policies, thereby taking advantage of inviting new and strategic investors.

As reported by Director of the Investment Promotion and Support Department Huynh Lien Phuong, this year’s investment attraction orientation targets at diversifying a network of partners and investment forms, inviting more domestic and foreign investors with great development potentials, attracting key investments in the fields of IT digital transformation infrastructure, especially giving a priority to projects with modern technology, high intellectual content, friendliness with the environment in an great effort to create an open investment and business environment.

The city will effectively use resources, specific mechanisms and policies to promote the long-term development of the Da Nang Hi-Tech Park, makuing full use of bilateral and multilateral relationships, trade agreements as well as international cooperation programmes for investment promotion.

In terms of the aforementioned target, focus will be placed on approaching and inviting transnational corporations (TNCs), strategic investors with high financial capability and advanced technologies from Japan, S,.Korea, the US, Singapore and such European countries as Germany, France, Spain and the UK.

Along with that, the city will proactively grasp opportunities for direct investment cooperation with international partners.

At the meeting on March 18 in Da Nang, Mr. Sanghyun Kim, Chairman of Regional Small and Medium-sized Enterprises’ Association in Daejeon - Sejong - Chungnam in S. Korea said that many members of the Association have been oriented to do business in Da Nang and look forward to receiving support from this central coastal Vietnamese city in finding more investment and cooperation opportunities in the city in the time to come.

Previously, on March 17, at the seminar ‘Introducing the investment environment of Da Nang’, Chris Valoon, the President of the American Chamber of Commerce in Vietnam (AmCham) Da Nang,  highly appreciated the city's great efforts in creating favourable conditions for the business community to promote production and trade performances.

With many attractive incentives released by the Da Nang administration, businesses have many opportunities to expand the investment environment in the city. Here, Chairman of the Da Nang People's Committee Le Trung Chinh said that the city expected businesses, agencies and organisations to better understand the potentials and advantages of Da Nang's development, thereby planning to expand their business and investment activities in the city.

The city leaders are also committed to exerting more efforts to create the most possible  favourable conditions for investors to gain a deeper insight into the investment environment and set up effective projects in Da Nang.

Investors are seen exchanging ideas on Viet Nam’s investment environment at the Viet Nam Connect Forum in 2023. Photo: THANH LAN

Purpose of calling for investment attraction

According to the Da Nang Department of Planning and Investment, the goal of the investment attraction programme in 2023 is to effectively implement the year theme "The year focuses on unleashing resources, attracting investment, maintaining economic growth and preserving social welfare’.

In particular, sight is set on attracting domestic and foreign investment capital sources channelled into certain aspects in which the city shows off strength, a step to attract large-scale projects, heading towards   a highly-competitive investment environment in the city.

Also, focusing on long-hohoured traditional investment markets, in tandem with market seeking new partners under multilateral or bilateral agreements in which Viet Nam has joined, is also a must-fulfil task.

In addition, the city will strengthen meeting the needs of investors in terms of mechanisms, infrastructure, and human resources, remove outstanding difficulties and problems and ensure maximum support for enterprises in administrative procedures.

Along with that, competent agencies will speed up the preparation of zoning plans on the basis of the Prime Minister's Decision No. 359/QD-TTg dated March 15, 2021, approving the adjustment of the Da Nang Nang Master Plan for major developments by 2030, with a vision towards 2045 as the basis for implementing key projects, calling for investment in the city in the coming time.

In particular, the city will go on promoting the attraction of private resources to develop seaport, energy, and post-port logistics projects, completing technical infrastructure of industrial parks in a synchronous and modern direction, speeding up the establishment of Hoa Nhon, Hoa Ninh, Hoa Cam (Phase 2) industrial parks.

Also, preparations must made to put the Da Nang Software Park No. 2, the Da Nang Hi-tech Park’s support industrial area and the Cam Le industrial cluster into operation at the earliest.

Simultaneously, last, but not least, it is a need to promote regional economic linkages, especially in the field of high technologies, with a focus on developing the Da Nang Hi-tech Park in sync with Hoa Lac Industrial Park in the capital city of Ha Noi and the Ho Chi Minh City Industrial Park, a step towards becoming a city serving as the nucleus of socio-economic development of the Central Viet Nam and Central Highlands regions.

Reporting by THANH LAN - Translating by ANH THU