Illustrative image (Photo: VNA) Da Nang (VNA) – The centralcity of Da Nang is working to build a business environment conducive forinvestors, based on the pillars of hi-tech industry, tourism and sea-basedeconomy.
In its planning orientations till2030 with a vision to 2050, the city targets attracting capital to information and communications technology (ICT), biotechnology, micro-electronic technology, mechatronics,precision engineering, environment and nano technology, among others, towardbecoming a socio-economic hub in the region.
The Da Nang Hi-Tech Park (DHTP) is one of the three national advancedhi-tech parks and the only of its kind in the central – Central Highlands regions. Itsinfrastructure have been completed after three stages and it is striving tocontribute a minimum of 10-15% of the local gross regional domestic product (GRDP) duringthe 2025-2030 period. Da Nang has also prepared urban infrastructure facilitiesin three other industrial parks to draw foreign investors.
Recently, the Da NangInvestment Promotion and Support Board, the Da Nang Hi-Tech Park and IndustrialZones Authority (DHPIZA), and Long Hau Corporation have signed a cooperationagreement, under which Long Hau Corporation is the provider of factoryinfrastructure for hi-tech and supporting industries on a 29.6ha site in the DHTP.
Vu QuangHung, head of the DHPIZA, said Da Nang has incentives exclusively designed for investors besides those offered by the central government. Specifically,those investing in DHTP are exempt from taxes for the first four years and enjoy a50% reduction in taxes for the following nine years. They also benefit from apreferential tax rate of 10% for a period of 15 years. Importantly, they arecompletely exempt from import taxes on machinery, goods, and equipment used forthe formation of factories.
The city also partners with the DaNang University of Science and Technology to train skilled workforce forinvestors.
DHPIZA statistics showed that localhi-tech and industrial parks have so far attracted a total of 516 projects,including 391 domestic ones worth over 31.6 trillion VND (1.37 billion USD) and 125foreign-invested ones valued at more than 1.8 billion USD, or 46.5% of thetotal foreign direct investment in the city. At present, the city is home to 984foreign-invested projects valued at over 4 billion USD.
Lawyer Nguyen Thanh Hoa, Deputy GeneralDirector of the KPMG Law Company that provides investment attraction counselingfor DHTP, suggested that Da Nang should work with nearby cities, provinces andthe entire country to build policies to draw investment into hi-tech industries,and hold investment promotion conferences in the northern and southern regions.
Buerstedde Peter, Vietnam Director of the Germany Trade & Invest, proposed thatapart from developing a land fund for hi-tech industry, Da Nang should come upwith a plan to strengthen goods transportation connectivity and developlogistics services when the Lien Chieu Port is put into operation.
Director of the Da Nang InvestmentPromotion and Support Board Huynh Lien Phuong opined that the city should expandcooperation with other educational establishments to train a highlyskilled workforce, thus meeting demand of investors.
This year, DHPIZA will partner withunits concerned to remove obstacles in site clearance, helping three to four moreprojects to start in the DHTP./.
