Da Nang will create the most favourable conditions for foreign experts and businesses, including those from Japan, to effectively work and operate in the city.

Da Nang People’s Committee Vice Chairman Ho Ky Minh speaking at the Friday seminar

The affirmation was made by municipal People’s Committee Vice Chairman Ho Ky Minh at the Friday seminar entitled ‘Connecting cooperation between Da Nang - Japan’.

Mr. Yakabe Yoshinori, Consul General of Japan in Da Nang, and Ms. Tanaka Sachiko, Deputy Mayor of Japan’s Kisarazu City, made their attendance at the event.

In his opening speech, Vice Chairman Minh said that, in the first half of 2023, the city’s GRDP was estimated to increase by 3.74% against 2022. Economic structure shifted in the right direction, whilst the city achieved quite impressive results from domestic investment attraction.

Specifically, Da Nang ranked third among the five centrally-governed cities and 46^th out of the 63 provinces and cities in terms of GRDP growth rate. It ranked 4^th among the five centrally-governed cities and 17^th among the 63 provinces and cities in terms of GRDP scale.

The size of the city's economy in the past six months generated an estimate of more than VND64,784 billion, expanding more than VND5,318 billion compared to the same period in 2022.

The structure of the economy had a slight shift between the three regions compared to the same period last year: the agriculture, forestry and fishery sector accounted for 2.15%; industry and construction sector 18.75%; and service sector 69.19%.

The trade and service sector continues to be a bright spot, making positive contributions to the local economic growth. Between January and June, the added value of the sector went up 6.15% over the same period, making a positive contribution to the city's overall economic growth.

Among them, the city's administrative activities and supporting services achieved the highest growth at an increase of 62.2%, followed by services for individuals and communities 38%; and accommodation and food services 32.8%.

Mr. Yakabe Yoshinori, Consul General of Japan in Da Nang, speaking at the event. Photo: THANH LAN

Mr. Minh remarked the year of 2023 marked the 50^th anniversary of the establishment of the Viet Nam - Japan diplomatic relations (1973 - 2023). Over the past 50 years, the two countries have developed a comprehensive strategic cooperation relationship in many spheres.

Till date, Da Nang has established friendly and official cooperation relations with 4 Japanese cities, namely Kawasaki, Sakai, Yokohama and Kisarazu. Also, the city has cooperated with 15 other provinces and cities of Japan.

Japan is currently the largest investor in the city in terms of investment capital with more than US$1 billion from 222 projects, accounting for 23.5% of the number of projects and 26% of foreign investment capital in the city. The majority of projects are involved in components manufacturing, processing, information technology, education, healthcare, services and tourism.

Up to now, the operation of Japanese enterprises in the city has created jobs for more than 40,000 employees. Export turnover between the two sides reached US$730 million in 2022, whilst import turnover hit US$440 million.

The city leader pledged that the city will create the most favourable conditions for Japanese experts and businesses to invest and operative effectively in the city. He hoped that the investment ideas of Japanese corporations and businesses will soon be concretised in Da Nang.

Delegates discussing on the sideline of the seminar. Photo: THANH LAN

According to Mr. Yakabe Yoshinori, Consul General of Japan in Da Nang, Da Nang has been attracting a lot of attention from Japanese businesses thanks to the reasonable rental fees at industrial parks, abundant human resources and a good investment environment.

He highlighted the significance of the seminar in facilitating Japanese enterprises to understand more about the city’s investment climate, and future strengthening the bilateral relationship between Japan and Da Nang.

During the seminar, participating delegates discussed Da Nang’s investment potential and opportunities, as well as the connection of investment information of Da Nang and Japanese localities.

Reporting by THANH LAN - Translating by M.DUNG