Following Prime Minister Pham Minh Chinh’s approval of the city’s planning until 2030 and its vision to 2050, Danang is poised for significant growth, converging various factors to propel rapid development.
Proactively seeking new avenues for growth, Danang is particularly focused on fostering a semiconductor and AI industrial ecosystem, aiming to innovate its growth model. Consequently, the city has been engaged in numerous initiatives to bolster infrastructure, develop human resources, and attract investments in this sector.
Towards the end of 2023, Danang witnessed notable investments such as the Foxlink Danang electronics factory project by Danang High-Tech Park and Foxlink International Investment of Taiwan, totaling $135 million and specializing in high-tech electronic equipment manufacturing.
Furthermore, during a business trip to the United States in November, Danang’s leaders held meetings and working sessions with prominent semiconductor chip companies including Qorvo, Inc., Marvell Technology, NVIDIA, and Intel Corporation.
Currently, Danang is home to approximately 250 businesses engaged in manufacturing, processing, and assembling electronic components, with a workforce exceeding 10,000 employees. The city also hosts companies specializing in integrated circuit design such as Synopsys, Uniquify, and Savarti.
In terms of ICT infrastructure, Danang boasts one high-tech park, six industrial and export processing parks, and three IT and software parks that are operational.
Apart from the semiconductor industry, Danang is also aspiring to establish itself as a regional financial center. Detailed plans for the financial center have been finalized, with the selection of a strategic investor slated for this year. The development will encompass zoning plans for the financial center and other comprehensive strategies, including the establishment of the Vietnam International Financial Centre Development Council.
Looking ahead to 2030, efforts will be concentrated on completing the infrastructure for Danang’s international financial center, encompassing both physical infrastructure such as offices and complexes, and soft infrastructure such as financial and IT systems.
The socio-economic development results of 2023 underscore Danang’s resilience and determination to overcome challenges, with a regional GDP growth of 2.58% and an estimated economy scale of $5.65 billion, reflecting a $422 million increase from 2022.
Danang has successfully completed and obtained government approval for its city planning until 2030, with a vision extending to 2050. Additionally, 9 out of 9 urban subdivision planning projects and 4 out of 10 functional construction subdivision planning projects have reached advanced stages of completion.
