Standing Vice Chairman of the Da Nang People's Committee Ho Ky Minh chaired a meeting on Tuesday with representatives of the Japan Bank for International Cooperation (JBIC).

Standing Vice Chairman of the Da Nang People's Committee Ho Ky Minh (5th, left) presented a souvenir to JBIC representatives. Photo: M.QUE

During the meeting, Vice Chairman Minh informed his Japanese guests about Da Nang's development orientation with focus on developing tourism, services, and high-tech industry, in which the semiconductor industry was the spearhead orientation.

The city has been developing semiconductors in three pillars of infrastructure, policy, and human resources. It has been preparing land funds, concentrated information technology zones, software parks, and high-tech parks for foreign enterprises, including those from Japan, to implement projects on semiconductors and artificial intelligence, he added.

Additionally, the municipal People's Council has already adopted three resolutions effective from January 1, 2025 to develop the semiconductors industry, by concretising Resolution No. 136/2024/QH15 of the National Assembly on the organisation of urban government and piloting specific mechanisms and policies for the development of the city.

As planned, in 2025, the city will continue to organise training courses on semiconductor design and packaging for domestic and foreign lecturers.

The city official also revealed that Da Nang was a locality in the country allowed to pilot and build new development models such as free trade zones and a regional financial centre. In the coming time, the Central Government will decide to establish the Da Nang Free Trade Zone, so he hoped that JBIC will introduce more investors to operate and invest in the zone.

Most recently, the city has launched the Hoa Ninh Industrial Park (IP) project in Hoa Ninh Commune, Hoa Vang District. Covering a total area of ​​400 hectares, the over VND 6,200 billion project will feature a liquefied gas thermal power plant which promises to bring investment potential.

Also at the meeting, Da Nang and JBIC together clarified information about key projects in the city such as Hoa Ninh IP, financial centre, and free trade zone. In addition, discussions concentrated on orientations for the development of semiconductors, tourism, and services in the central coastal city.

As a Japanese policy-based financial institution, JBIC's role is to contribute to the sound development of Japan and the international economy and society, by taking responsibility for the financial function in the fields: promoting the overseas development and securement of resources which are important for Japan; maintaining and improving the international competitiveness of Japanese industries; promoting the overseas business having the purpose of preserving the global environment; and preventing disruptions to international financial order.

JBIC has supported 344 projects in Viet Nam with a total cost of over 950 billion yen, of which Da Nang has had 3 projects involving the manufacturing industry.

Aside from the manufacturing sector, JBIC plans to expand to projects related to strengthening the supply chain of critical minerals, semiconductors, and storage batteries; and industrial production facilities serving the operations of Japanese companies, including information and communication infrastructure.

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