Da Nang seeks to attract more FDI sources

Thien Thanh Sanitaryware joint company

Da Nang seeks to attract more FDI sources

The central city of Da Nang has attracted foreign direct investment (FDI) worth 153 million USD so far this year, only 52.7 percent of last year’s FDI.

During the 10-month period, 24 new projects worth 124 million USD were registered, while an additional 28.8 million USD was invested in the 14 existing projects.

Chairman of the municipal People’s Committee Van Huu Chien said the local authorities would focus on attracting investments in the fields of service, advanced technologies, the support industries and information technology in the near future.

At the same time, relevant sectors will concentrate on promoting foreign affairs and investment, and implementing preferential policies to support FDI enterprises.

According to Nguyen Van Ly, Vice Chairman of the city’s Association of Small and Medium Sized Enterprises, it is essential to develop policies that prioritise important projects in order to attract investors and generate jobs for local labourers.

In addition, the city will continue to promote itself as a top investment destination on key markets such as Japan, the Republic of Korea, and the US, while completing land planning regulations at industrial parks, and developing and upgrading infrastructure facilities in high-tech zones.

It will also work to accelerate administrative reform, simplify investment procedures and improve professional skills for people working in international business.
At present, as many as 304 projects worth 3.37 billion USD from 36 countries and territories are operating in Da Nang.

Japan runs the most projects in the city - 78 in total worth 371 million USD, accounting for 11 percent of the locality’s total FDI.

By the end of September, FDI enterprises had contributed 70 million USD to the local budget.

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