In 2023, Da Nang continues to face difficulties due to the influence of the political and economic situation in the world; epidemics; and problems related to post-processing of conclusions and judgments in the land field, having a significant impact on the city's ability to recover its socio-economic development.

However, the government and people of Da Nang are determined to effectively implement the theme for 2023 as ‘The year focuses on unleashing resources, attracting investment, maintaining economic growth and ensuring social welfare’.

The construction of the shared infrastructure at Lien Chieu Port in progress. Photo: THANH LAN

Investment promotion boosted

Based on the direction of the Standing Board of the municipal Party Committee, right from the beginning of the year, the People's Committee issued Plan No. 12 dated January 18, 2023 on implementing the theme for 2023 as ‘The year focuses on unleashing resources, attracting investment, maintaining economic growth and ensuring social welfare’.

According to the city’s Investment Promotion and Support Board, during the year, the city continues to be considered an attractive and reliable investment destination by domestic and foreign business communities with 110 investors and businesses searching for investment locations inside and outside the Da Nang High-Tech Park and other industrial parks.

Along with that, relevant departments and agencies have paid much attention to giving market information and supporting connections between foreign direct investment (FDI) and local enterprises in the fields of supporting industry and food; as well as providing guidance and advice on procedures related to investment, businesses, labor and visas.

To date, more than 20 online and offline conferences and seminars on calling on investment, and connecting businesses, in the fields of hi-tech, information technology, innovative startups, logistics, trade, services and tourism have been organised at both home and abroad.

Notable among them have been a get-together for Da Nang-based businesses on the occasion of Tet 2023; seminars to promote investment into Da Nang held in Japan's Chiba and Osaka, China’s Shandong Province, and Dubai, United Arab Emirates (UAE); and the Da Nang - Qatar investment and business conference.

Most recently, in mid - November 2023, a delegation of the city’s officials, led by municipal Party Committee Secretary Nguyen Van Quang, accompanied State President Vo Van Thuong to visit the US. During the working trip, the city’s delegation met with many US businesses to call for investment flows.

Notably, during the year, the city has organised and participated in 7 investment promotion delegations in international markets such as the United Arab Emirates (UAE), Qatar, Japan, China, the United States, and South Korea.

The city has strengthened direct access to domestic and foreign investors to appeal for investment such as Phuc Hoang Nguyen Group, Phat Dat Group, Mitsubishi Corporation, Sumitomo Corporation, Metran Corporation, Pasona Corporation (Japan), Foxlink Corporation (Taiwan), Synopsys Corporation, FPT Corporation, MM Mega Market Co., Ltd., Equest Corporation, Viettel Corporation , and CMC Group.

The city leaders grant the investment registration certificate to Foxlink Da Nang Electronics Factory Project. Photo: THANH LAN

Always accompanying and supporting businesses

According to Director of the municipal Department of Planning and Investment Tran Thi Thanh Tam, to continue to be a top choice for investors at both home and abroad, the city has issued the Investment Promotion Programme for 2023 and 2024 and a plan to implement key tasks and solutions to promote investment attraction, as well as advised on the issuance of a project to call on large investors to invest in new industrial parks (Hoa Cam - phase 2, Hoa Nhon, and Hoa Ninh) and the Supporting Industrial Park serving the Da Nang Hi-tech Park.

Local units, departments, agencies and branches have inspected and reviewed the factory rental situation of projects in the Hoa Khanh Industrial Park and the Da Nang Fisheries Service Industrial Park to assess the effective implementation of related policies on leasing surplus factories.

At the same time, heed has been on developing plans and conduct activities to monitor and review land use and implement a number of projects in the Da Nang High-Tech Park and Industrial Parks to propose measures to improve land use efficiency.

So far this year, the city has granted investment licences and investment policy decisions to14 new projects inside industrial parks with a total investment capital of more than VND2,490 billion, and 9 new ones outside industrial parks with a total of more than VND6,297 billion. The city has raised over VND113 billion and VND37,797 billion in the total investment capital for 10 existing projects inside industrial parks, and 7 projects outside industrial parks respectively.

Besides, the city has attracted more than US$181 million in FDI investment capital. It has granted business registration certificates to a total of 3,847 new domestic and foreign businesses, branches and representative offices, with a total registered charter capital of VND16,120 billion.

An issue of great concern is that the city has focused on removing difficulties and obstacles to speed up the implementation of a number of large projects such as the construction of shared infrastructure of Lien Chieu mega-port project, resettlement area serving Da Nang University Village project and the Tuyen Son - Tuy Loan riverside road, the upgrade of the Ngo Quyen - Ngu Hanh Son route , the upgrade of the Peace Monument and expansion of the March 29 Square, etc.

Up to now, 16 projects have been completed or basically completed. Meanwhile, 14 projects are expected to be completed this year.

Reporting by THANH LAN - Translating by M.DUNG