 Da Nang begins the construction of the Software Park No.2 (Photo: VOV) |
Da Nang has made 2020 a year for promoting investment attraction and has invested in 6 projects worth nearly 690 million USD, 5 times more than last year, and has attracted 140 million USD in foreign investment capital in just the last 9 months.
The foreign-invested projects include an aerospace component factory funded by the US's Universal Alloys Corporation. With an investment of 170 million USD, the project’s first phase has been completed.
The first phase of the Long Hau Company’s hi-tech factory cluster has been completed and leased to two Japanese investors. Expansion of the project is slated to be completed next April.
Da Nang is prioritizing FDI attraction in ICT, digital, nano, and bio technologies. It will continue to prioritise investment in high-tech projects with high added values.
Da Nang plans to lure the new wave of investment being shifted from East Asian countries to Southeast Asia by offering an open investment environment, modern infrastructure, and the ability to meet the demanding requirements set by investors from North America and Europe.
Huynh Lien Phuong, Director of Da Nang’s Investment Promotion and Support Board, said, "To receive the FDI shift from China, we have increased communications promoting Da Nang as a safe, attractive investment destination. We’ll reallocate land from long-delayed projects in industrial zones to active projects in need of land for expansion."
Da Nang is speeding up completion of its infrastructure and preparing land for investment projects. It is completing the necessary procedures to form Software Park No.2 and calling for investment in a specialized IT Park, Hoa Nhon and Hoa Ninh Industrial Park, and the second phase of the Hoa Cam Industrial Park.
 (Photo: VOV) |
Tran Phuoc Son, Director of the Da Nang Department of Planning and Investment said, "With the necessary infrastructure for receiving the investment shift being made by foreign enterprises, Da Nang has selected investors for the industrial zones of Hoa Cam, Hoa Nhon, and Hoa Ninh.”
Son added, “To be able to accommodate small and medium-sized enterprises as soon as the COVID-19 epidemic was under control, Da Nang quickly built the infrastructure for the first phase of the Cam Le industrial cluster and the industrial clusters of Hoa Khanh Nam, Hoa Hiep Bac and Hoa Nhon."
Pham Truong Son, Head of the Da Nang Hi-Tech Park and Industrial Zones Authority (DHPIZA), said, "First, Da Nang is helping local businesses expand trading and production operations. Second, after inaugurating completed projects, we’ll promptly begin new projects."
The first and second phase of the Da Nang Hi-Tech Park project have already been completed. The third phase is underway and is expected to be completed in the second quarter of next year. An auxiliary area for the Da Nang Hi-Tech Park project, which is under construction, will be completed in the first quarter of 2021.
In addition, Da Nang is building three new industrial parks - phase 2 of the Hoa Cam Industrial Park, Hoa Nhon Industrial Park, and Hoa Ninh Industrial Park - on a total area of 880 ha.
Once these begin operating, Da Nang will have 10 industrial zones covering 2,200 hectares and a good infrastructure with which to attract more domestic and foreign investment.