The Authority of the Da Nang Hi-Tech Park and Industrial Zones (DHPIZA) has recently held a ceremony to announce the investment policy approval for the ICT VINA III Factory project invested by the Dentium Limited Company (100% Korean capital).

Leaders of Da Nang departments and agencies and the representatives of Dentium Co., Ltd. pose for a souvenir photo (Photo: VNA)

The project has a total registered investment capital of US$ 177 million US$, equivalent to more than VND 4,458 billion, raising the total registered capital of FDI projects in Da Nang Hi-tech Park to US$ 875.2 million worth of 13 projects in total.

According to the DHPIZA leader, the investor from South Korea has promptly implemented all investment registration procedures in accordance with regulations and progress. This is one of the key projects in certain fields that Da Nang is calling for FDI investment in the 2020 - 2025 period according to the project ‘Overall development of Da Nang Hi-tech Park by 2030’ in Decision No. 4621/QD-UBND dated October 14, 2019 of the Da Nang People's Committee.

It is believed that with the foundation of experience and financial capacity of the investor, as well as mastering the technology, the project will ensure its progress, put into operation on schedule and promote efficiency, thus creating a strong spread to other businesses in the Da Nang Hi-tech Park in particular, as well as to the city's investment environment in general.

ICT VINA III factory is the third project invested in the Da Nang Hi-tech Park, following the ICT VINA I worth US$20 million in 2018 and the ICT VINA II factory valued at US$ 60 million in 2020. Up to now, the Dentium Co., Ltd. has invested in three projects in the Da Nang Hi-tech Park with a total registered investment capital of US$ 257 million.

The investor representative pledged to promptly all implement investment procedures to build ICT VINA III factory according to the set plan, striving to complete the project soon and put it into production. The company will also promote attracting many domestic and foreign experts in the field of high technology to Da Nang, as well as implementing training activities to improve professional capacity, contributing to enhancing scientific research activities in the city.

Since the beginning of 2024, the DHPIZA has granted new licenses to four investment projects in the Da Nang Hi-tech Park, Concentrated Information Technology Park - Phase 1 and industrial parks across the city, comprising two FDI projects with worth a total of about US$178.5 million, two domestically-invested projects totaling VND810 billion.

Up to now, there have been a total of 521 investment projects in the Da Nang Hi-tech Park, Concentrated Information Technology Park - Phase 1 and industrial parks in Da Nang. In detail, there are 396 domestically-invested projects with a total investment capital of over VND33,876 billion and 125 foreign investment projects totalling over USD2,222million.

Reporting by Vietnamplus – Translating by A.THU