On Friday, Vice Chairman of the Da Nang People's Committee Ho Ky Minh had a working session with representatives from the LG Vehicle Component Solutions Company under South Korea’s LG Group.

Vice Chairman Minh giving a souvenir to Mr. Park In Sung, Vice President in charge of research and development of solutions for car components of LG Group. Photo: P.LAN

During the meeting, Standing Vice Chairman briefly introduced the city’s socio-economic growth, especially the local information technology industry. In particular, over the past years, the city has focused on developing relatively modern urban infrastructure. Da Nang has also identified its key economic sectors such as tourism, logistics, information technology industry, and hi-tech.

Currently, there are presence of all major telecommunications and information technology enterprises of Viet Nam such as VNPT, FPT, Viettel, etc. in Da Nang.

Most notably, the city has developed many software parks and concentrated information technology parks such as Software Park No. 1, Da Nang Software Park, FPT Software Park, and Software Park No. 1 at first stage, etc.

Da Nang has many training institutions which provide quality human resource in IT, namely the University of Science and Technology, the Viet Nam-Han Information Technology and Communications University, Duy Tan University, FPT University…

Mr. Minh affirmed that the city would create all conditions for LG Group to continue developing research and development activities in Da Nang.

For his part, Mr. Park In Sung, Vice President in charge of research and development of solutions for car components of LG Group, highly appreciated Da Nang's efforts in driving its post-pandemic economic recovery.

Currently, the Da Nang branch of the Automotive Components Solution Development Centre in Viet Nam is headquartered on the 11^th and 12^th floors of the Lien Chieu District-based DITP Building.

After more than one year of operation, the centre has created jobs for more than 200 employees, including 190 software engineers. This figure is expected to reach 500 by 2023. The Centre has also implemented 44 research and development projects in both Ha Noi and Da Nang branches.

Mr. Park In Sung said that in the coming time, LG Group plans to develop the Centre into a company with a complete legal person status, and asked for support from the municipal government in terms of procedures and preferential policies for investors.

As of February 2022, South Korea is now the fifth largest source of foreign direct investment into Da Nang among 45 countries and territories worldwide with 235 valid projects totalling USD378 million. The majority of the projects are involved in manufacturing electronic components, engine components for automobiles and motorcycles, and trading textile products, garments, etc.

Reporting by PHONG LAN - Translating by M.DUNG