In the first half of 2024, Da Nang achieved many positive results from foreign investment promotion work.

Vice Chairman of the Da Nang People's Committee Tran Chi Cuong (right) discussing with Japanese Ambassador to Viet Nam Ito Naoki at the “Da Nang - Japan Meeting” conference in early July. Photo: THANH LAN

Promotional activities boosted

The Da Nang Investment Promotion Agency (IPA) has proactively advised and developed programmes and plans for diplomatic activities of local leaders abroad as well as welcoming international investors who come to the city to learn about its investment environment. This has facilitated the city to continue to strengthen activities to connect and introduce the city's business and investment environment and preferential policies to organisations, businesses and investors.

Also, the city’s People's Committee has released a set of documents advertising investment, trade and tourism cooperation potential in English, German, Taiwanese (China), French, Japanese and Korean.

Besides, IPA has organised and participated in investment promotion and mobilisation activities. In particular, the agency has chaired a workshop entitled "Promoting Taiwanese (Chinese) investment in Da Nang"; a B2C (Business-to-Consumer) and B2G (Business to Government) programmes in the fields of industrial production, tourism, information technology and communications, and educations with businesses from Japan’s Kagawa Province; and organised business trip to conduct investment promotion activities in Taiwan (China), France, Germany and the Netherlands.

On June 26, IPA in collaboration with the Saigontel High Technology Investment and Development Co., Ltd, to organise a seminar to promote Korean investment in Da Nang.

Earlier, on June 25, the delegation of Hong Kong University (China) had a working session with IPA to discuss investment opportunities in the fields of industrial production, high technology, supply chain, and sea transportation. Also on this day, a working group to promote cooperation between Da Nang and the US debuted in the city.

In the early days of July 2024, a delegation of high-ranking officials, led by Secretary of the Da Nang Party Committee Nguyen Van Quang, had a business trip to the Republic of Korea. During the trip, the city's delegation connected trade and expanded investment cooperation.

Investors praise Da Nang

At the “Da Nang - Japan Meeting” 2024 on July 5, Japanese Ambassador to Viet Nam Ito Naoki affirmed that Viet Nam in general and Da Nang in particular were Japan’s great partners not only in bilateral relations but also in the international arena in all comprehensive fields such as economics, security, and culture and people-to-people exchanges.

He added Japanese businesses intended to expand business in Viet Nam in the near future. In Da Nang, Japanese businesses have so far invested in a total of 254 projects with a total value of more than US$1 billion.

Ambassador Ito Naoki gave a specific example with the establishment of "Pasona DX Hub Da Nang" by the Pasona Group. The purpose of the Pasona DX Hub Da Nang is to train engineers in advanced technology fields including artificial intelligence.

Commenting on the city's investment environment, Mr. Mun Byong Doo, Deputy Director of ICT Vina Co., Ltd. shared "Da Nang has many incentives in terms of environmental conditions, human resources and quality training system with good infrastructure.

He said the operation of international standard industrial parks made it convenient for the city to develop and expand production scale. In particular, the Da Nang High-Tech Park is implementing attractive preferential policies for businesses. Taking advantage of the abovementioned advantages, the company is continuing to promote production of core products.

According to IPA Director Huynh Lien Phuong, the city has focused on supporting businesses and investors before, during and after granting investment registration certificates.

Specifically, 21 investors and businesses have been supported to research and implement investment activities in Da Nang, as well as instructed to handle procedures related to investment, businesses, labour and visas.

At the same time, departments and agencies always monitor and resolve difficulties and obstacles to speed up the implementation of procedures for selecting investors for projects involving real estate, information technology infrastructure, trade, services, education and health.

Moreover, Da Nang has promoted domestic and international cooperation in investment promotion. In particular, the city has signed Memoranda of Understanding with AeonMall Vietnam Co., Ltd., Viettel Group, Sumitomo Group and BRG Group, ADANI Group and Anh Phat Group. It has discussed with the Bremen State Economic Development Agency, Germany, about the possibility of organising business connections and investing in the logistics field.

Da Nang has focused on inviting, welcoming and supporting businesses and investors before, during and after granting investment licenes. IPA has warmly received the delegations of semiconductor businesses, including Qualcomm Corporation, Marvell Corporation, Dezhou's Government and business community, Aeon Mall Group, ADANI Group, and BRG Group JSC.

Currently, IPA is promoting 39 projects in the fields of information technology, research and development, education, healthcare, commerce, logistics, smart urban complexes, and shopping, financial and entertainment complexes, international trade centres, and seaports.

Reporting by THANH LAN - Translating by M.DUNG, T.TUNG