Business

Da Nang seeks to attract more FDI sources

The central city of Da Nang has attracted foreign direct investment (FDI) worth 153 million USD so far this year, only 52.7 percent of last year’s FDI.
The central city of Da Nang has attracted foreign direct investment(FDI) worth 153 million USD so far this year, only 52.7 percent of lastyear’s FDI.

During the 10-month period, 24 new projects worth124 million USD were registered, while an additional 28.8 million USDwas invested in the 14 existing projects.

Chairman of themunicipal People’s Committee Van Huu Chien said the local authoritieswould focus on attracting investments in the fields of service, advancedtechnologies, the support industries and information technology in thenear future.

At the same time, relevant sectors will concentrateon promoting foreign affairs and investment, and implementingpreferential policies to support FDI enterprises.

According toNguyen Van Ly, Vice Chairman of the city’s Association of Small andMedium Sized Enterprises, it is essential to develop policies thatprioritise important projects in order to attract investors and generatejobs for local labourers.

In addition, the city will continueto promote itself as a top investment destination on key markets such asJapan, the Republic of Korea, and the US, while completing landplanning regulations at industrial parks, and developing and upgradinginfrastructure facilities in high-tech zones.

It will also workto accelerate administrative reform, simplify investment procedures andimprove professional skills for people working in internationalbusiness.
At present, as many as 304 projects worth 3.37 billion USD from 36 countries and territories are operating in Da Nang.

Japanruns the most projects in the city - 78 in total worth 371 million USD,accounting for 11 percent of the locality’s total FDI.

By the end of September, FDI enterprises had contributed 70 million USD to the local budget.-VNA
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