Da Nang expects foreign business associations and consulting firms to be ‘extended arms’ and effective partners, thereby helping it promote investment attraction and connecting it with the community of member enterprises and tech investors.

Da Nang People's Committee Chairman Le Trung Chinh speaking at the seminar

Municipal People's Committee Chairman Le Trung Chinh made the statement at the Friday seminar on appealing for investment in the local hi-tech sector.

The event was jointly organised by the city’s Investment Promotion and Support Agency, the Authority of the Hi-Tech Park and Industrial Parks, and the Long Hau JSC.

In his opening speech delivered at the seminar, Chairman Chinh informed his guests about some of the city’s economic achievements over the past time. Specifically, the local economic growth rate in 2022 was 14.05%, ranking third in the country. GRDP per capita at current prices was estimated at VND102.6 million/person, equivalent to more than US$4,300/person, up 13.8% compared to 2021.

Da Nang took the lead among 5 provinces and cities in the Central Key Economic Zone in terms of development speed and scale.

The city leader attributed these achievements to great efforts made by foreign businesses and investors.

As of March 2023, the city attracted US$4.062 billion from 980 FDI projects. As accumulated until March 2023, the city attracted 516 projects to the High-Tech Park, the 1^st phase of the Centralised Information Technology Park and 6 industrial parks, thereby contributing to the city’s economic restructuring and improving competitiveness for regional and international integration.

Foreign direct investment resources play a very important role in promoting the city's socio-economic development, reflected in contributing to the economic restructuring in a positive direction, the GRDP growth rate of the whole economy, the State budget collection, and export growth. At the same time, they contribute to improving the competitiveness of city-based enterprises, so that the management and business methods are also improved.

Especially, the application of information technology helps improve the quality of human resources, and promote international integration.

Oriented to 2030, with a vision to 2045, Da Nang targets to become a smart eco-city, a hub for entrepreneurship and innovation, and an Asian-level livable coastal city.

The city is now focusing on developing three main pillars: tourism, high-tech industry and marine economy.

Representatives of the Da Nang Investment Promotion and Support Agency, the Authority of Da Nang Hi-Tech Park and Industrial Parks and the Long Hau Joint Stock Company signed the tripartite Memorandum of Understanding on cooperation programme on Friday.

Since 2012, the city has focused on mobilising investment resources to develop the infrastructure for the Da Nang Hi-Tech Park which is one of the three national high-tech parks and the only one in the Central Viet Nam and Central Highlands regions.

The city strives for the contribution rate of the Hi-Tech Park to reach at least 10-15% in the 2025-2030 period.

Currently, the city prioritises developing information technology and communication, biotechnology, microelectronics technology, precision mechanics, mechanics - electronics, optics - electronics and automation, environmental technology, new energy and material technology, and nanotechnology.

Chairman Chinh pledged to constantly creating and perfecting a favourable business and investment environment for businesses to invest and develop stably. 

To mark the occasion, the Da Nang Investment Promotion and Support Agency, the Authority of the Hi-Tech Park and Industrial Parks, and the Long Hau JSC inked the tripartite Memorandum of Understanding on promoting investment attraction in the high-tech field for Da Nang.

Additionally, the Long Hau JSC signed a Memorandum of Understanding with the Nakano Precision Co., Ltd on leasing hi-tech ready-built factory in the Da Nang Hi-Tech Park.

Reporting by M.QUE - Translating by M.DUNG