Business

RoK, Da Nang partners to promote investment in industrial parks

A business agreement on the development of industrial parks and urban zones has been inked by local industrial property developer - the Sai Gon Da Nang JSC (SGD) and the Korea CEO Summit organisation, aiming at attracting yet more foreign direct investment projects to the central city of Da Nang.

Consul General of the Republic of Korea Kang Boosung speaking in Da Nang city. (Photo courtesy of the Consulate General of the Republic of Korea)
Consul General of the Republic of Korea Kang Boosung speaking in Da Nang city. (Photo courtesy of the Consulate General of the Republic of Korea)

Da Nang (VNS/VNA) - A business agreement on the development of industrial parks and urban zones has been inked by local industrial property developer - the Sai Gon Da Nang JSC (SGD) and the Korea CEO Summit organisation, aiming at attracting yet more foreign direct investment projects to the central city of Da Nang.

SGD General Director Mai Cong Ho said the business deal will focus on funding for SGD’s projects and restructuring and designing of urban and industrial park real estate projects in Da Nang city.

He said the two partners also agreed to draw more FDI flow to industrial parks and business promotions in the city.

Ho said SGD has been developing four residential urban and two industrial park projects, of which Lien Chieu and the expanded Hoa Khanh amount to 67 projects worth 850 million USD in FDI and 20 trillion VND in domestic investment, creating 9,000 jobs.

SGD, a member of Sai Gon Investment Group, also plans to join investment in new parks in Hoa Ninh and Hoa Nhon in Hoa Vang district, as well as mega projects of the Free Trade Zone, Lien Chieu deep-sea port and international logistics centre in Da Nang.

According to the city’s Hi-Tech park and the Industrial Zones Authority (DHPIZA), a supportive industries park across a 58.5ha site is looking for investment from domestic and foreign businesses.

Korean giant investor Samsung debuted the Samsung Innovation Campus (SIC) at the city’s Duy Tan Private University and is supporting two businesses – Trung Nam Group and Tan Long Paper and Package Company – in building the first smart factories in the city.

The Republic of Korea’s LG Electronics also introduced its R&D centre – the second in Vietnam – in Da Nang.

RoK investors have poured 371 million USD across a total of 378 projects, in IT and communications, hi-tech industries, automation, workforce training in the semiconductor sector and AI, in the city./.

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