Da Nang improves investment attraction quality

Da Nang improves investment attraction quality

Da Nang, a central city in Vietnam, is making efforts to create a favorable business environment for investors, focusing on hi-tech industry, tourism, and sea-based economy. The city aims to attract investment in various sectors such as biotechnology, ICT, environment, nano technology, and mechatronics, to become a socio-economic hub in the region.

Da Nang has prepared urban infrastructure facilities in three other industrial parks to attract foreign investors. The Da Nang Hi-Tech Park (DHTP) is one of the three national advanced hi-tech parks and is expected to contribute 10-15% of the local gross regional domestic product (GRDP) by 2030. The city has also signed a cooperation agreement with Long Hau Corporation to provide factory infrastructure for hi-tech and supporting industries in the DHTP.

Da Nang offers incentives exclusively designed for investors, including tax exemptions and preferential tax rates for a certain period. The city has attracted 516 projects, including 391 domestic ones and 125 foreign ones, valued at more than 1.8 billion USD. To attract investment in hi-tech industries, Da Nang plans to build policies and hold investment promotion conferences in the northern and southern regions.

The city also aims to strengthen goods transportation connectivity and develop logistics services when the Lien Chieu Port is put into operation. Da Nang will partner with relevant units to remove obstacles in site clearance, helping three to four more projects to start in the DHTP.

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