Hanoi (VNA) - Da Nang is laying the groundwork to become a major hub of growth and a globally competitive city by reimagining its development space and embracing new economic models.
The new development vision also requires local businesses to move beyond the limits of the domestic market.
Going global
Many Vietnamese businesses are pursuing a “Go Global” strategy to expand growth opportunities. The trend is no longer limited to large corporations but is also opening opportunities for small- and medium-sized enterprises and innovative startups.
Experts at the Da Nang Innovation Startup Festival (SURF) 2026 said that although Vietnam has a promising domestic market, international venture capital funds expect innovative startups seeking rapid growth to develop products to compete in international markets.
James Tan, Managing Partner at venture capital fund Quest Ventures, said startups focusing solely on domestic problems would find it difficult to grow into large companies or technology unicorns, stressing that they need to “think bigger” and expand internationally.
The experience of Da Nang shows that going global is becoming a pathway for technology businesses to overcome the limitations of the local market. Ngo Tan Tien, CEO of BookShare, said the city should focus on helping local businesses connect with global markets.
In recent years, Da Nang has organised a wide range of international events, helping expand networks and facilitating cooperation in technology and innovation. The city has also created spaces connecting domestic and international businesses, enabling local firms to access advanced technologies, venture capital, and leading foreign experts and technology companies.
The Daegu Technology and Innovation Showcase in Da Nang, for example, has become a platform for businesses from Da Nang and Daegu, the Republic of Korea, to exchange ideas and explore technology transfer and cooperation in artificial intelligence, semiconductors, smart cities and green technology.
Choi Jong-tae, President of the Daegu-Gyeongbuk ICT Industry Association, said cooperation between businesses in the two cities is expected to generate stronger investment and joint efforts to enter international markets.
Renewing the development model
Politburo Resolution No. 59-NQ/TW dated January 24, 2025 on international integration in the new situation highlights the proactive role of people, businesses and localities, while identifying international integration in science, technology and innovation as a separate area of focus.
Against this backdrop, Da Nang is pursuing its ambition of becoming a global city by improving governance, the investment environment and innovation capacity, while integrating more deeply into international flows of knowledge, technology and finance.
Experts at the recent Da Nang Business, Finance and Technology Week 2026 said growth models based on low-cost labour, resource exploitation, input incentives and expansion are becoming increasingly constrained amid rapid advances in AI, automation, the digital and green economies, shifting supply chains and strategic competition.
They said Da Nang’s global-city ambition can encourage the city to adopt new development models and strengthen its resilience to rapid technological and environmental changes.
The city’s living environment and natural attractions have helped draw international professionals, but retaining highly skilled talent will be crucial for new initiatives such as an international financial centre, a free trade zone and semiconductor development.
Dr. Le Quang Dam, General Director of Marvell Vietnam Technology Co., Ltd., said talent is the most important factor determining investment success.
Chairman of the Da Nang municipal People’s Committee Nguyen Manh Hung said competition among cities is increasingly a competition for investment and high-quality resources, including human resources, science, technology, international finance and strategic investors.
He stressed that building Da Nang into a city that is attractive to live in, visit, invest in and contribute to will not only benefit local residents but also help strengthen Vietnam’s national competitiveness amid intensifying global competition for high-quality talent./.
VNA
