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

VNA

See more

The opening of the Ho Chi Minh City Pavilion at the 2025 Saudi Food Show being held from May 12 to 14 at the Riyadh Front Exhibition and Conference Centre. (Photo: courtesy of ITPC)

HCM City businesses attend Saudi Food Show in Riyadh

The HCM City pavilion is a joint exhibition space comprising three adjacent sections with a total area of 300 square metres organised by the Investment and Trade Promotion Centre of HCM City and the Vietnam Trade Office in Saudi Arabia.

Prime Minister Pham Minh Chinh speaks at the dialogue with the US business community in Hanoi on May 13. (Photo: VNA)

US businesses affirm long-term commitment to Vietnam

During the meeting, US delegates expressed appreciation for the Vietnamese Government’s goodwill and for its efforts to maintain a favourable investment climate. They proposed Vietnam continue enhancing its business environment by addressing bottlenecks in administrative procedures, non-tariff barriers, taxation, and fees, while ensuring infrastructure conditions, transparency, and rules of origin

Consumers at a supermarket in HCM City (Photo: baodautu.vn)

Vietnam, US push for balanced trade

Imports from the US are predicted to rise sharply in the coming months as large Vietnamese enterprises are accelerating purchases from the North American market in efforts to balance bilateral trade.

The reduction of bank staff will continue to be strong in 2025, as banks are promoting digital transformation and restructuring operations to improve cost management efficiency. (Photo: vnbusiness.vn)

Banks cut staff, transaction branches amid digital promotion

VietinBank will be the first bank in the country’s group of four largest State-owned commercial banks (Big4) to cut the number of its transaction offices. According to a plan released at VietinBank’s annual general meeting of shareholders (AGM) recently, the bank is expected to cut hundreds of transaction points to streamline the system in 2025.

The Binh Duong Centralised IT Zone is located within the Binh Duong Industrial – Service – Urban Complex. (Photo baobinhduong.vn)

Binh Duong develops new 16-hectare centralised IT zone

The establishment of a new centralised information technology (IT) zone in Binh Duong Province marks a significant step in the locality’s digital transformation strategy and its ambition to build a knowledge-based economy.

Workers manufacture electronic components. (Photo: VNA)

PM orders overhaul to improve business environment

The dispatch further highlights the need for comprehensive measures to enhance governance capacity, accelerate socio-economic progress, and improve the investment and business landscape with a clear emphasis on sustainable development and environmental stewardship.

Prime Minister Pham Minh Chinh (centre) and other delegates attend the groundbreaking ceremony for the Ninh Binh–Hai Phong Expressway Project’s section passing through Nam Dinh and Thai Binh provinces. (Photo: VNA)

Transport, industrial development essential for Thai Binh to be wealthier: PM

​The groundbreaking ceremonies of the Ninh Binh–Hai Phong Expressway Project’s section and the Hung Phu Industrial Park in Thai Binh affirm the government’s determination to create an attractive investment and business environment for both domestic and foreign investors; foster provincial and regional connectivity, generate momentum and open new development space for Thai Binh and the northern coastal region.