Da Nang licenses 14 foreign-invested projects in January
17:10 | 07/02/2020

VGP – Da Nang city granted 14 investment certificates to foreign investment projects with the total committed capital of more than US$1.68 million last month, according to the municipal Department of Planning and Investment.

Da Nang licenses 14 foreign-invested projects in January

The projects are mainly in the fields of food, services, information technology, and foreign language training, the department said, adding that Da Nang is considering launching the city’s investment promotion programme in 2020. That would facilitate its promotion activities during the year.  

At the same time, the city is speeding up the implementation of procedures to hand over the investment registration certificates and investment research policies in time to a number of investment projects at the upcoming 2020 Spring Conference.

Last year, the city attracted nearly $700 million in foreign investment, with 130 newly licensed projects with total registered capital of $410 million, eight times higher than one year ago and 16 operational projects raising $120 million, 63 times higher than 2018’s figure.

The city has seen 208 foreign investors contributing capital and acquiring shares with a combined value of $133.3 million, nearly triple that of 2018.

These positive figures were thanks to the city authorities’ great efforts to improve the investment and business environment to create more favourable conditions for investors in the city. Also, the city’s leaders have removed obstacles hindering investors.

Head of the Danang High-Tech Park and Industrial Zones Management Board Pham Truong Son emphasised the importance of perfecting the database for investment promotion and to effectively organising domestic and overseas promotion activities, focusing on potential markets such as Japan, the Republic of Korea, the U.S.and Europe.

Between now and 2025, the city is calling for domestic and foreign investment into 57 key projects, following recent approval from the municipal People's Committee.

The approved projects are involved in various sectors, namely education, healthcare, tourism-services-commerce, culture and sports, information technology-industrial infrastructure, hi-tech industry, environmental improvement, transport-infrastructure-logistics, and hi-tech agriculture.

Amongst these projects are such large-scale ones as the Lien Chieu mega-port, which is expected to use VND3.42 trillion from the State budget and VND3.95 trillion from the private sector; the relocation of the city’s railway station and urban redevelopment totalling VND12.63 trillion and parking areas worth a total of VND2.5 trillion a VND54.5-trillion mass transit system featuring metros and tramways.

Chairman of the Da Nang Association of Small- and Medium-sized Enterprises Pham Bac Binh said the city’s efforts in investment attraction have gradually brought positive results.

He told that there remained room for the city to absorb more investment in the near future. To this end, Danang should seek strategic investors who could pump investment into the city’s key industries.

In the past year, despite facing many obstacles, Da Nang proved an appealing investment location to investors. Along with this, from January 1 to December 15, the city counted $690.76 million in FDI volume.

Compared to 2017 and 2018, the investment scale of FDI projects in 2019 had increased considerably. Specifically, the average investment scale was nearly $1.2 million per project in 2017 and was more than $1.2 million in 2018. 

Last year, the figure climbed to $3.3 million. Total registered investment capital in 2019 increased by 1.9 times compared to the same period in 2018./.

By Vien Nhu

  Reader opinion
Turn off Vietnamese typing Automatic typing Telex VNI VIQR  
Fullname Email address