In an effort to implement Resolution No. 43-NQ/TW dated January 24, 2019 adopted by the Politburo on building and developing Da Nang by 2030, with a vision towards 2045, the city has been focusing on attracting investment into tourism, high quality services associated with resort real estate.

The Da Nang authorities are removing obstacles and supporting investors to deploy high-end resort projects along the Hoang Sa - Vo Nguyen Giap - Truong Sa coastal route. Photo: HOANG HIEP

Many projects effectively put into operation

Recently, Da Nang has been very interested in calling for investment sources from both home and broard, supporting investors to implement projects and putting into operation high-end tourist areas, hotels, and resorts, especially projects such as Mikazuki, Radisson, Le Sands Oceanfront, Nesta, Gold Plaza, Cordial Grand, Golden Lotus Grand, Wink Hotel Danang Center, Wink Hotel Tran Hung Dao. Work has run on track on such projects as the Lang Van resort and entertainment complex, the Nam O eco-tourism area, the BRG Da Nang Golf Resort hotel complex and the D.A.P beach tourist area.

Mr. Peter Todd Meyer, the CEO of Lodgis Hospitality Holdings, expressed his belief that the Fusion Resort & Villas Da Nang beach villa and resort complex project will help attract many investors and tourists to Da Nang, a beautiful and attractive city, contributing to prompting the tourism industry to make a major contribution to the economic structure and GRDP of Da Nang.

Likewise, Mr. Odaka Yoshimune, Chairman of Mikazuki Hotel Group excitedly said: “After more than one year of operation, Da Nang Mikazuki Japanese Resorts and Spa has welcomed more than 490,000 guests who came here for relaxation, fun and the engagement in events, conferences and banquet services. We will also continue to strive to make more contributions to developing Da Nang a tourist destination that can compete with the world's famous destinations and resorts”.

According to Resolution No. 43-NQ/TW, the Da Nang tourism industry has built a great orientation on how to re-develop Da Nang tourism into one of the 3 development pillars and one of the 5 key economic aspects in Da Nang. The Da Nang administration has promoted the implementation of thematic 'Focus on developing tourism and high-quality services associated with resort real estate; developing Da Nang into a leading tourist and service destination of regional stature, the city of events and an international convention centre'.

Over the past three years, the city has implemented the project ‘Orienting the development of a system of tourist accommodation establishments in Da Nang in the 2020 - 2030 period to develop the Da Nang Master Plan for the 2021 - 2030 period, with a vision to 2050, in which the integrated tourism content is to allocate space and develop infrastructure for tourism development in the 2021 - 2030 period, with a vision to 2050. Last, but not least, the city has developed ‘Promoting investment attraction in the 2021 - 2025 period, with a vision to 2030’, including tourism projects.

Attracting many domestic investment projects

As reported by Director of the Department of Planning and Investment Tran Thi Thanh Tam, from January 1, 2021 to July 15, 2023, the city attracted many domestically-invested projects with a total capital of more than VND 59,561 billion. Domestic investment capital focused mainly on real estate projects and tourism services.

The city has attracted more than US$ 399 million worth of foreign investment capital. In detail, there were 162 new projects with a total registered capital of more than US$ 231 million, 82 others had their capital increased with a total amount of more than US$95 million, whilst capital contributions and share purchases in economic organisations reached a total value of more than US$ 72 million.

In order to attract more investment into the city, in the coming time, it is a need to review and properly implement the existing investment promotion mechanisms and policies, and at the same time, issuing new preferential ones to attract even more FDI, especially from large and multinational economic groups, strategic investors in the 5 spearheads of economic development, including tourism and high-quality services associated with resort real estate.

Along with that, the city will continue to give a maximum support for businesses in terms of handling administrative procedures, address problems related to already-licensed projects to restart construction, closely and actively work with national agencies to remove any difficulties and obstacles in a bid to turn Da Nang into an attractive investment destination in the eyes of both domestic and foreign investors.

Support investors with large-scale projects

Currently, the city is directing relevant agencies to focus on supporting the implementation of large-scale projects to create new unique tourism products such as the complex of works serving the Da Nang International Fireworks Festival, the Lang Van general resort and entertainment area, Nam O eco-tourism area, high-end resort project along the Hoang Sa - Vo Nguyen Giap - Truong Sa coastal route.

For the time being, the municipal administration is also prioritising public investment resources for projects to create new tourism products to restore tourism activities. Notable among them are the artistic lighting project ‘River of Light’, under which, a cutting-edge light system will be installed along the river banks, between Song Han and Tran Thi Ly bridges, water surface section, as well as the bridges themselves spanning the river, the Phase 2 of the An Thuong tourist quarter, Phases 2 and 3 of the Bach Dang pedestrian street - Nguyen Van Troi Bridge - Tran Hung Dao Street, the pilot implementation of Nguyen Van Troi pedestrian bridge and tourism services at parks at its both western and eastern ends.

In addition, heed has been paid to completing investment implementation procedures, attracting investment in key projects, driving forces for tourism development in the 2021 - 2025 period; converting Tien Sa port into a tourist port and an international marina; accelerating the construction of the Ngu Hanh Son historical and cultural park, an international culinary village, a botanical park, anunderground entertainment shopping mall, the complex of a smart urban and a non-tariff zone (under the planning area of the hillside subdivision of the Da Nang Master Plan, a separate night entertainment complex, a theme parks south of the Son Tra Peninsula.

Reporting by HOANG HIEP - Translating by A.THU