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  • News in Vietnam
  • 6 July 2022

Da Nang kicks off a series of motivational projects to boost investment attraction.

After two years of the impact of the Covid-19 Pandemic, the whole economy in general and Da Nang City, in particular, have been severely affected. Therefore, when Vietnam controlled the epidemic situation better, Da Nang city quickly recovered and developed and, at the same time, promoted projects to attract investment capital from abroad. Investment promotion events, groundbreaking construction, and the inauguration of key projects were implemented this June massively. Prominent among those projects is the Danang Investment Forum 2022, scheduled to be held at the end of June. This project is highly appreciated and is expected to create new momentum with many large projects. It promises to attract a large number of foreign strategic investors.

Someone can say that at present, attracting investment to Da Nang City has prospered and made remarkable progress after nearly two years of being affected by the Covid-19 pandemic. In the past five months, this city has issued policy decisions and investment certificates for 11 domestic projects, with a total investment capital of up to 3,390 billion VND, 6.7 times higher than the capital level compared to the same period last year. In addition, Da Nang also granted new investment certificates for 11 foreign investment projects with a total registered capital of more than 6 million USD and 9 FDI projects with increased capital. The most prominent is the capital contribution, share purchase, and capital contribution in economic organizations by ten turns of foreign investors.

According to Ms. Huynh Lien Phuong – Director of Danang Investment Promotion and Support Department, it has been a long time since Da Nang city has attracted big investors. Due to fierce competition in land rent, Da Nang is much higher than neighboring localities, but the land fund in industrial parks is limited. For that reason, it has hindered the development and attracted foreign investment to this city. Understanding that difficulty, from 2021, the Prime Minister approved the Adjustment of the general planning of Da Nang City to 2030, with a vision to 2045. Now, Da Nang City is constantly developing, thanks to the backing from investors has come here. The most typical are the service sector and high technology.

After resuming international flights, Da Nang City continuously received good signals from investors worldwide. Including Germany and the Netherlands. Japan, the Australian Consul General, the British Consulate General, the European Business Associations, the US, the UK… all came here to learn about the environment and invest. Grasp this favorable situation, Da Nang will introduce vital strategic projects to promote and develop the city’s socio-economics.

This June, Da Nang City started a series of large projects, including the Project of Resettlement Area to serve the clearance of the University of Danang Village, the Long Thanh Plastic Factory Project in Lien Chieu Industrial Park, the Nesta Danang Center project at the centralized information technology park and Dana Logistic Joint Stock Company’s project in Hoa Khanh Industrial Park expansion. Many vital projects have created a new push for economic recovery in the city. In addition, the Danang Investment Forum 2022, held this June, has attracted about 600 delegates and domestic and foreign investors registered to attend. That has demonstrated the success in economic recovery in Da Nang city and confirmed the inherent “potential” here.

Vice-Chairman of Da Nang City People’s Committee said that in the coming time, the city would announce a list of land funds for calling for investment capital, the investment preparation process, and investor selection for projects that do not use the land using list resources. To get a better understanding, Da Nang will also take investors to conduct field visits at Lien Chieu Port Project, Hi-Tech Park, Centralized Information Technology Park, and Software Park No. 2. Da Nang proposed to the Government to consider promulgating specific mechanisms and policies for several critical projects in the city.

“In the coming time, the Standing Board of the City Party Committee will direct the City People’s Committee to conduct a review of vacant land and clean land funds. Prioritize the proposal and development of vacant land for auction to attract investment capital. Besides this, the city will also announce the land rental price in the industrial park to facilitate research and investment. This is not only in line with reality, but also encourages and promotes businesses to invest.” Mr. Ho Ky Minh’s information.

(Source: baomoi)