In 2024, Da Nang organised many domestic and foreign investment promotion trips, and at the same time, welcomed many delegations to visit, survey and seek investment opportunities in the city.

Da Nang leaders took souvenir photos with representatives of Japanese leaders and businesses at the Da Nang - Japan Meeting 2024 conference. Photo: THANH LAN

In particular, the Da Nang Investment Promotion and Support Agency hosted and worked with 70 delegations of organisations, enterprises and investors, including nearly 20 working sessions with partners in the fields of semiconductors and artificial intelligence. As a result, it supported Marvell to establish a new office and Synopsys to expand its operations in the city.

In the field of seaport infrastructure and logistics, the agency offered active support to potential partners such as Adani Group and Sumitomo Group. It continued to promote more than 40 projects in the fields of high technology, education, healthcare, trade, seaport infrastructure, industrial infrastructure, and information technology.

Director of the Da Nang Investment Promotion and Support Agency Huynh Lien Phuong said that 2024 was a vibrant year in foreign investment promotion activities with many outstanding marks. Specifically, the city's leaders and representatives of departments and agencies made many business trips abroad to potential markets such as the United States, Germany, Japan, South Korea and China.

The bilateral relations with many important partners were raised to a new level with new qualitative developments, especially the organisation of investment promotion delegations in foreign markets. Included were the organisation of meetings and working sessions with businesses within the framework of investment promotion in Taiwan (China), France, Germany, the Netherlands, South Korea, etc.

The agency’s leaders joined the investment promotion delegations of the city leaders, ministries and central branches in Laos, Japan, Cuba, and the United States.

Da Nang promoted the renewal of traditional growth drivers through fostering cooperation in trade, investment, tourism, and labour with major markets and key and important investment partners, especially in Northeast Asia, America and Europe.

Additionally, the city enhanced scientific and technological cooperation and attracted large technology corporations to Da Nang such as Supermicro, Qorvo, Marvell, Nvidia, Samsung Electronics, ITSJ-G Company, Philogix Consultant Company, AeonMall Vietnam Co., Ltd., Viettel, Sumitomo and BRG, ADANI, and KPMG Co., Ltd.

At the same time, it monitored and supported such partners as Synopsys and Makara Capital to implement the contents signed in the Memoranda of Understanding on cooperation with the municipal Department of Information and Communications and the Department of Science and Technology in the field of semiconductor and startups.

Notably, the city regularly exchanged information and worked with diplomatic representative agencies in the locality (Consulate General of South Korea in Da Nang, Consulate General of Japan in Da Nang, Office of the Korea Trade and Investment Promotion Agency in Da Nang, etc.); and international organisations (AmCham, EuroCham, AusCham, etc.) to connect and promote the local investment and business environment.

Acting as the standing agency of the Inter-sectoral Working Group on Investment Promotion and Support, in 2024, the agency advised the leaders of the City People's Committee to direct the resolution of bottlenecks in attracting investment. At the same time, it summarised the progress and difficulties of a number of key and dynamic projects to accelerate the commencement of investment.

In the coming time, the Da Nang Investment Promotion and Support Agency will continue to promote the investment environment and create favourable conditions for businesses and investors at both home and abroad. With the focus on enhancing the quality of all aspects of investment attraction, the city hopes that many large investors will continue to trust and choose Da Nang as an investment destination in the year ahead.

Reporting by THANH LAN - Translating by M.DUNG