A corner of Hoa Cam Industrial Zone in Da Nang ​city (Photo: VNA)

Da Nang (VNA) – The central city of Da Nang’s Investment Promotion Centre has inked an Information Technology (IT) investment agreement between the Self Wing Vietnam Company and the Saitama Business New Forum from Japan.

The agreement, which was signed at a conference on IT and Communication Investment and Cooperation between Japan and Da Nang on September 8, is the first instance of Japanese IT investment in Da Nang and the beginning of an effort to lure investment flow from Japan to the central city and central Vietnam.

Over 160 representatives from Japan Trade Promotion Agency, Tokyo Business Association and Japanese Business Association - as well as 37 Japanese investors - paid a field trip to explore cooperation and investment opportunity at the city’s Industrial Parks and its Information Technology Park.

According to latest report from city’s administration, Da Nang has drawn 423 foreign direct investment projects worth 3.7 billion USD. Of that number, 55 IT projects have raised over 12 million USD in capital.

Tokyo Keiki Inc. and Niwa Foundry were the first two investors in the 1,010-ha Hi-Tech Park, with a total investment of 62 million USD.

Right now, Japanese investors bring the city a total of 500 million USD, creating 40,000 jobs for the city and neighbouring provinces.

The city’s Investment Promotion Centre also debuted its Japanese Desk Da Nang team, which will be available every Wednesday to support Japanese investors by explaining administrative procedure, investment licences and priority policies, or helping with any other adjustments.

Da Nang and Japan will start construction of the first Vietnam-Japan Culture Exchange Park this October, and it will reserve a 134ha industrial park for medium and small-size businesses from Japan.

A direct flight between Narita and Da Nang was opened in 2014, and a new Da Nang-Osaka flight is expected to open this October.

A recent survey of Shoko Chukin Bank from Japan showed that 40.7 percent of 3,750 respondents from various Japanese businesses in Japan said they would invest in Vietnam.

According to the Japan External Trade Organisation (JETRO), 66 percent of the 458 Japanese firms based in Vietnam planned to expand their business during the next one or two years.

The city planned to build an industrial park spread over 134ha for medium and small-size businesses from Japan.-VNA