When receiving a group of visitors from the Singapore Business Federation (SBF) in Da Nang on Wednesday, Permanent Vice Chairman of the municipal People's Committee Ho Ky Minh informed the guests about a number of fascinating tourism activities to be held in the city during the summer, especially the Da Nang International Fireworks Festival (DIFF) 2024 in June and July, and the ‘Enjoy Danang’ Festival 2024 in July.

Permanent Vice Chairman of the Da Nang People's Committee Ho Ky Minh (center) presenting a souvenir to representatives of the Singapore Business Federation. Photo: M.Q

He added that Da Nang prioritized attracting projects involving new technologies, modern management, and global production and supply chains, thereby creating high added value and spillover effects.

Currently, the central coastal city is concentrating on attracting new waves of foreign direct investment (FDI) in the fields of logistics industry, seaports, and high technology such as semiconductor, artificial intelligence (AI), automation, biotechnology, financial center, financial technology, and high quality services (education, healthcare, tourism).

The Government has submitted to the National Assembly a draft resolution on piloting the urban government model and a number of specific political mechanisms to develop Da Nang with about 30 policies. Included are the pilot policy to establish the Da Nang Free Trade Zone, and the policy to develop microchips, semiconductors, AI, information and communication, science and technology management, and innovation.

In the draft resolution, there is a proposal to develop the Da Nang Free Trade Zone which will feature three functional areas of production; port logistics - logistics; and trade - services.

In addition, the Software Park No. 2 is scheduled to come into operation in December 2024, creating conditions for the city to attract more information technology and high-tech businesses.

Vice Chairman Minh hoped that the Singapore Business Federation in Viet Nam will call on many Singaporean investors and tourists to Da Nang to learn about the investment environment, and experience tourism services.

At the same time, he encouraged Singaporean businesses operating in Da Nang to conduct research on priority areas, consistent with the city's development orientation such as semiconductors, AI, information technology, and innovation.

Mrs. Amy Wee, Country Head of Singapore Business Federation in Viet Nam, said that SBF is the largest business focal point in Singapore with 30,000 members.

SBF's purpose is to support Singapore's small and medium-sized enterprises in finding business opportunities globally, and Viet Nam is one of the top 3 countries of interest to Singapore.

The Singaporean government also has developed programmes to support businesses to develop in foreign markets, including Viet Nam.

Currently, Singaporean investors are showing their interest in education, manufacturing, retail and technology. In particular, Singaporean businesses highly appreciate the human resources in Viet Nam that are well suited to the technology sector.

During this business trip, the Singapore Business Federation in Viet Nam showed their desire to learn about investment potential in Da Nang in particular, and the Central Viet Nam in general.

Ms. Amy Wee hoped that Da Nang will organise a workshop to introduce its investment environment to Singaporean businesses in the near future.

Reporting by MAI QUE - Translating by M.DUNG, T.TUNG