Domestic and foreign investment trends in the industrial parks of Da Nang show the central city is becoming a major investment destination in the country, local officials say.

The city’s six industrial parks (IPs) have so far this year attracted 57 foreign invested projects with a total capital of 456.3 million USD, contributing to the rapid economic growth.

The parks also host 60 domestic investment projects worth a total of 237 million USD.

The officials attribute the investment growth to the government’s incentive policies relating to corporate income tax, land rentals and financial support in infrastructure construction.

Based on the scale and socio-economic impact of the investment projects, the city administration also considers preferential policies relating to vocational training programmes, subsidies and land allocation for building workers’ houses to help enterprises stabilise their employees’ living conditions.

The IPs’ management board has also actively implemented a one-stop shop policy for all administrative procedures, and negotiated with property developers and infrastructure investors for define proper land rentals for enterprises.

After 2010, the city’s economy will be restructured with a focus on development of industry and hi-tech services.

High tech projects in information technology, software development and biotechnology will receive priority.
The city also plans to build industrial parks in the city’s outlying districts to ease pollution and create favourable conditions for these areas to catch up with economic growth in the city centre.

During recent years, the city’s industrial parks have lured several major projects including the 100 percent Japan-invested Mabuchi Motor Da Nang Co.

The company, in the Hoa Khanh Industrial Park in Lien Chieu Ward, specialises in making electrical machines and equipment, as well as small engines. All its products are for export./.