The Da Nang Investment Promotion and Support Board, and Japan’s Pasona Group, inked a Memorandum of Understanding on promoting investment attraction from Japan to Da Nang during the 2023-2025 period on Tuesday at the city’s Administrative Centre.

Vice Chairman of the Da Nang People's Committee Ho Ky Minh delivering a welcome speech at the signing ceremony. Photo: THANH LAN.

In his remarks at the signing ceremony, municipal People's Committee Vice Chairman Ho Ky Minh highlighted the significance of the event in not only marking a new development step in the relationship between the two sides, but also demonstrating the increasingly close cohesion between Da Nang and Japanese partners.

He highly praised the Pasona Group for its great efforts in attracting investment capital from Japan; as well as training and developing high-quality human resources for the city’s key development aspects.

The representative office of the Awaji Danang Centre on Awaji Island, Japan and that of the Pasona DX HUB in the city, are the clearest proof of the effectiveness of the Memorandum of Understanding signed between the Da Nang Investment Promotion and Support Board, and Japan’s Pasona Group, in the 2019-2022 period.

The city leader emphasised that the Viet Nam-Japan diplomatic ties was at a very good stage in terms of economics, trade, investment, and people-to-people exchanges.

He voiced his belief that, with the reputation and experience of the Pasona Group, the signed agreement between the two sides will continue to inherit the bright spots of that signed for the 2019-2022 period, and the relations of sincere friends, reliable partners, strategic cooperation and sustainable future between the two countries will achieve good results in the years ahead.

The signing ceremony taking place under the witness of Vice Chairman of the municipal People's Committee Ho Ky Minh; along with representatives of the Departments of Tourism, Foreign Affairs, Information and Communications, and Labour, War Invalids and Social Affairs. Photo: THANH LAN

Da Nang always considers Japan an important and long-term partner. Currently, Japan is currently the largest investor in the city in terms of investment capital with more than US$1 billion from 230 projects, accounting for nearly 25% of foreign investment capital in the city, Vice Chairman Minh affirmed.

Regarding trade, Japan is also a leading partner with US$670 million and US$360 million in export and import turnover in 2023 respectively.

In the coming time, the central coastal city will promote investment attraction in fields with high technology and knowledge content and high added value such as the semiconductor industry.

The city, therefore, hopes to receive active support from the Pasona Group in connecting Japanese microchip and semiconductor businesses to Da Nang to learn about investment climate and implement related cooperation programmes.

Da Nang is committed to always accompanying, supporting and creating an open, transparent, safe and healthy investment and business environment for the Pasona Group and its partners to operate effectively in the city, Mr. Minh noted.

It is known that the Memorandum of Understanding between the Da Nang Investment Promotion and Support Board and the Japanese Group is valid for 3 years from 2023-2025 with the goal of calling on investment for Da Nang from Japan.

Under the deal, the two sides will concentrate on supporting Da Nang-based businesses to expand investment and business activities, and developing human resources for the locality.

Specifically, importance will be attached to exchanging and providing relevant information, advertising Da Nang's investment environment to Japanese businesses and investors, and giving active support to Japanese enterprises doing business and investing in Da Nang.

Attention will be paid to organising business connection events, conferences, seminars, and talk shows; as well as consulting on specialised legal policies related to enterprises’ investment and business activities.

Meanwhile, the Pasona Group will continue supporting Da Nang in implementing investment promotion activities, and successfully attracting projects involving important development fields in the direction of the city in the coming time.

Vice Chairman of the Da Nang People's Committee Ho Ky Minh (right) presenting a souvenir to leader of the Japanese Pasona Group. Photo: THANH LAN

The Pasona Group is among top 3 companies in the human resources sector in Japan. Founded in 1976 by Chairman Yasuyuki Nambu, it is headquartered in Tokyo, Japan. Currently, the group has more than 50 branch offices in 15 territories and countries worldwide.

In Viet Nam, Pasona Tech Vietnam was established more than 16 years ago with 3 representative offices in Ho Chi Minh City, Ha Noi and Da Nang. Previously, in April 2019, in Japan, the Da Nang Investment Promotion and Support Board and Pasona Group signed a Memorandum of Understanding for the 2019-2022 period.

Many effective cooperation activities were carried out based on the memoranda of understanding such as the opening of the Awaji Da Nang Cooperation Office on Awaji Island (Japan) and bringing Da Nang engineers to work at the office; the inauguration of Pasona DX Hub Office in Da Nang; and the organisation of investment promotion seminars in Japan and Da Nang.

In December 2019, the Pasona Tech Vietnam Company, a member company of Pasona Group, received a Certificate of Merit from the municipal People's Committee in recognition of its contributions to the city's socio-economic development.

​Reporting by THANH LAN - Translating by M.DUNG