On Wednesday, a group of visitors from the Yiwu Chamber of Commerce, Zhejiang Province, China, visited Da Nang to learn about its investment and business environment and opportunities, and conduct a field survey at the Lien Chieu Industrial Park and the High-Tech Park.

According to information from the dA  Investment Promotion and Support Agency, China is one of Da Nang's leading investment, trade and service partners with 93 projects with the total investment capital of US$1.18 billion as of March 2023.

Currently, in the industrial sector, the city focuses on developing high technology, information technology, and supporting industries.

Priority supporting industry products are involving in textile and garment, leather and footwear, automobile production and assembly, and mechanical engineering.

Enterprises involving in the supporting industry sector enjoy an incentive corporate income tax rate of 10% in 15 year.

Projects with a total investment of VND3,000 billion (approximately 130 million USD) will enjoy an incentive corporate income tax rate of 10% in 30 year.

In addition, businesses are exempt from import tax on goods to create fixed assets according to Decree No. 111/2015/ND-CP dated November 3, 2015 of the Government on supporting industry development.

Mr. Wu Yun Feng, General Secretary of the Yiwu Chamber of Commerce, Zhejiang Province, China, informed that businesses in the Chamber of Commerce were mainly in the fields of household appliances, knitting, cosmetics, and garment accessories.

Most recently, businesses have exchanged and traded with many partners in Viet Nam. The meeting was an opportunity for businesses to understand more about the investment environment and the potential of Da Nang to strengthen cooperation in the time to come.

Reporting by M.Q – Translating by M.DUNG