The central city of Da Nang granted new licences to 126 foreign direct investment (FDI) projects in 2018 with a total investment value of US$155.9 million – double the level it saw in 2017.

A factory of Niwa Foundry company from Japan, in operation at Da Nang’s Hi-Tech Park. The city has attracted 679 foreign direct investment projects worth $2.9 billion. — VNS Photo Cong Thanh

Da Nang’s FDI projects worth $2.9 billion

04/01/2019

The central city of Da Nang granted new licences to 126 foreign direct investment (FDI) projects in 2018 with a total investment value of US$155.9 million – double the level it saw in 2017.

SR Vietnam | Business News & Business Solutions

Director of the city’s planning and investment department Tran Phuoc Son said the city also agreed to six new projects from domestic investors worth VND6.3 trillion ($278 million).

According to the latest report from the department, Da Nang has attracted a total of 679 FDI projects worth $2.9 billion and 322 domestic projects worth VND95.876 trillion ($4.2 billion).

Son said the city saw 22 projects in industrial zones (IZs) worth a total of $60.5 million and seven projects in the Hi-tech Park worth $204 million in 2018 alone.

To date, the city has drawn 473 projects in IZs worth $1.8 billion, while the Hi-tech Park alone had 15 projects worth $390 million.

Tourism estate and service projects made up 60 per cent of all new FDI projects in 2018, while manufacturing industry projects were the other 40 per cent, a report from the city’s investment promotion agency showed.

Singapore was the biggest source of investment in Da Nang with 23 projects worth $717 million, while Japan came behind with 134 projects worth $598 million.

The US ranked third with 46 projects worth $517 million. South Korea was the fourth with total investment of $244.6 million.

Da Nang will encourage investors in hi-tech industries and high-quality services in the form of PPPs (public-private partnerships) as well as investments in waste treatment, infrastructure and solar and wind power.

The city has 68 PPP projects, 22 of which are in the hi-tech sector, with an estimated investment of $1.4 billion in 2017-20.

Da Nang also designed a 1,010 hectare high-tech park as a hub for green and hi-tech investors from Japan, Thailand, South Korea, Singapore and the US. — VNS

Source: Bizhub.vn

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