An overview of Da Nang. The central coastal city is emerging as an attraction destination for foreign investors. (Photo: nhadautu.vn) Hanoi (VNS/VNA) - Thecentral coastal city of Da Nang granted licences to 14 foreign-investedprojects with total registered capital of nearly 1.69 billion USD in January,the municipal Department of Planning and Investment announced on February 4.
Most of the projects are in restaurant and catering services, information andtechnology as well as language training, the department said, adding that DaNang is considering launching the city’s investment promotion programme in2020. That would facilitate its promotion activities during theyear.
Last year, the city attracted nearly 700 million USD in foreign investment,with 130 newly licensed projects with total registered capital of 410 millionUSD, eight times higher than one year ago and 16 operational projects raising 120million USD, 63 times higher than 2018’s figure.
The city has seen 208 foreign investors contributing capital andacquiring shares with a combined value of 133.3 million USD, nearly triplethat of 2018.
These positive figures were thanks to the city authorities’ great efforts toimprove the investment and business environment to create more favourableconditions for investors in the city. Also, the city’s leaders have removedobstacles hindering investors.
Pham Bac Binh, Chairman of the Da Nang Association of Small- and Medium-sizedEnterprises, said the city’s efforts in investment attraction have graduallybrought positive results.
Binh told the online newpaper baodanang.vn thatthere remained room for the city to absorb more investment in the near future.To this end, Da Nang should seek strategic investors who could pump investmentinto the city’s key industries, he said.
Meanwhile, Pham Truong Son, head of the Da Nang High-Tech Park and IndustrialZones Management Board, emphasised the importance of perfecting the databasefor investment promotion and to effectively organising domestic and overseaspromotion activities, focusing on potential markets such as Japan, the Republicof Korea, the US and Europe.
Between now and 2025, the city is calling for domestic and foreign investmentinto 57 key projects, following recent approval from the municipal People'sCommittee.
The approved projects are involved in various sectors, namely education,healthcare, tourism-services-commerce, culture and sports, informationtechnology-industrial infrastructure, hi-tech industry, environmentalimprovement, transport-infrastructure-logistics, and hi-tech agriculture.
Notable amongst these projects are such large-scale ones as the Lien Chieumega-port, which is expected to use 3.42 trillion VND from the State budget and3.95 trillion VND from the private sector; a 54.5-trillion VND mass transitsystem featuring metros and tramways; the relocation of the city’s railwaystation and urban redevelopment totalling 12.63 trillion VND and parking areasworth a total of 2.5 trillion VND.
Other projects included a solid waste treatment plant valued at 3 trillion VND;a 2.13-trillion VND smart city building project; horse-racing course and horsebreeding centre totalling an estimated 4.55 trillion VND; and an undergroundentertainment and shopping centre capitalised at 900 billion VND./.
VNA
