Business

Da Nang invites investment

The central city promises to create smooth conditions and top priorities for Singapore’s investors in the fields of high-tech, information technology, renewable energy and high quality education.
Da Nang invites investment ảnh 1The ship-building industry is a high-tech investment field that calls for investment from foreign investors (Photo: VNA)

Da Nang (VNA) - The central city promises to create smooth conditions and top priorities for Singapore’s investors in the fields of high-tech, information technology, renewable energy and high quality education.

Deputy Chairman of the city’s People’s Committee Ho Ky Minh made the statement in a seminar on ‘Investment Opportunities in Da Nang’ in Singapore this week.

Minh said the city will make a strong commitment in building available infrastructure, administrative reforms, preferential treatment and skilled labour, for wooing investors from Singapore.

He said the city will boost transparency and publicity in offering preferential favours, labour cost and investment fee for investors.

Ricky Tan, CEO of Kinderworld Education Group, said Da Nang is a potential destination for foreign investors in Vietnam, and the group expected to expand investment in Da Nang in the coming year.

The group, the biggest Singaporean investor in the education and training sector in Vietnam, has invested 40 million USD in the construction and operation of 15 training facilities in Hanoi, Da Nang, HCM City and Binh Dương.

It established the Pegasus International UniCollege (PIU) in Da Nang in 2014, along with its KinderWorld International Kindergarten (KIK) and the Singapore International School (SIS) to provide a world class educational system from pre-school to university levels in the city.

Head of the representative office of the Bank for Foreign Trade of Vietnam (Vietcombank) in the city, Vu Thi Bich Thu, confirmed that the bank in cooperation with Da Nang city is looking to create favourable financial support for Singaporean investors launching investment projects in Da Nang.

According to the city’s investment promotion centre, Singapore has been the biggest investor in Da Nang with 22 projects worth 782 million USD.

Da Nang has attracted 410 foreign direct investment (FDI) projects with total 3.7 billion USD.

Businesses of foreign-invested projects earned a revenue of 766 million USD in 2015, of which 522 million USD was export turnover, creating over 48,000 jobs.

Last year, the city also organised investment promotion events in Japan and Germany.

As scheduled, the city, in cooperation with Vietnamese Businesses Union in Europe, will host a Europe Business Forum this August.-VNA

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