Da Nang City calls for investment

VNA
The Government of Vietnam will keep reforming policies in administrative procedure, legal environment, more transparency and publicity in creating trust and confidence among domestic and foreign businesses investing in Vietnam and Da Nang.
Da Nang City calls for investment ảnh 1 Prime Minister Pham Minh Chinh speaks at the Da Nang investment Forum. The event offers more investment opportunities for domestic and foreign investors. Photo courtesy of Da Nang Investment Forum
Prime Minister Pham Minh Chinh made the comments at the Invest Da Nang Forum in the central city on Saturday, urging businesses to invest more in Vietnam and Da Nang for both the benefit of business and the country’s prosperous development.
“The Government of Vietnam is developing a wide-open economy to attract multi-sector businesses and investors for sustainable growth in climate change and global crisis and conflicts. We must strongly change institutions to be cooperative in dealing with market shocks,” PM Chinh said.

“We do all the best in preventing corruption, inflation control, flexible money policy, diversifying supply chains to create trust and stable conditions for investors when doing business in Vietnam.”

The PM also highlighted the efforts in the control of the Covid-19 and support from partners in helping Vietnam in the difficulties of the 2020-21 pandemic.
Da Nang City calls for investment ảnh 2 Investment licences and proposals are granted to investors at the Da Nang Investment Forum. Photo courtesy of Da Nang Investment Forum 
Despite Covid-19 not yet being fully controlled, Việt Nam actively organised the Southwest Asian (SEA) Games successfully while opening the market positively last October.
He urged businesses to invest in information technology, digitalisation, climate change, supply chains, urban infrastructure, human resources education, capital market, pharmaceuticals, medical equipment production, electronics, and innovation in Da Nang.

He said Da Nang and relevant ministries should offer the most favourable conditions for investors flocking to Vietnam and Da Nang in the future.

Chính said Vietnam allocated a huge investment in infrastructure, health prevention, social security and welfare, business support and tax cut to balance the economy in dealing with unstable global conditions.

Japanese Ambassador to Vietnam Yamada Takio said the Japan-Vietnam relationship had been warmly promoted with visits by the two PMs of Vietnam and Japan recently.

He said in the visit to Japan by the Vietnamese PM Chinh, 45 Memorandums of Understanding (MoU) had been signed worth $12 billion, while 22 MoUs with a total $910 million were inked during the visit by the Japanese PM Kishida Fumio to Vietnam in May of 2022.

Sumitomo-BRG partnership wishes to join hand in developing Lien Chieu deepsea port in Da Nang that would share experience and knowledge from Yokohama port from Japan, the ambassador said.

He said 140 Japanese businesses with 216 projects worth US$800 million have already docked at the city, and Mikazuki Spa&Resort was seen as the latest investment from Japan that was opened last week.

Fujikin International Incorporated from Japan commenced construction of an R&D centre at Da Nang High-Tech Park for operation in the third quarter of 2022.

The Japanese Government considers Da Nang as an important role in central Vietnam, he added.

Carolyn Turk, Country Director for the World Bank in Vietnam, appreciated the investment from the private sector as she said it would be a key element for the future development of Da Nang.

She said she believed the city’s authorities would keep improving the investment environment for private businesses.

Turk said the city had developed as a favourite destination with nearly 9 million tourists per year and a hub of trade, industry and service in Vietnam.

She said Da Nang should eye on ‘green’ infrastructure, public space, traffic, and waste management to make it livable and improve climate change resilience.

"I am pleased to inform you that Da Nang City and the World Bank has commenced a joint-working group using cross-sectoral approach to holistically support the city in maximising its growth potentials by jointly addressing the city’s most complex challenges. We are committed to bring our global knowledge and experience, convening power, and financing to work with the city, development partners, private sectors and all stakeholders for the sustainable development of Da Nang," the World Bank official stated.

Speaking at the forum, the chairman of FPT Group, Truong Gia Binh, said the city had potential manpower in the IT industry with 44,000, of which 50 per cent were programmers, creating nearly US$100 million of software export turnover in 2021, a 6.2 per cent growth year-on-year.

The city’s IT and communications industry contributed 8.2 per cent to its Gross Regional Domestic Product.

FPT, which supplies a fifth of the city’s IT manpower, is committed to investing in an education complex, training 10,000 IT engineers in 2024, making Da Nang a digital innovation centre worldwide.

Hồ Kỳ Minh, vice chairman of the city’s People’s Committee, said Da Nang has called for investment in key industries and services, including sea and air ports, supportive sectors, logistics, luxury tourism, casino, fintech, innovation space, high-quality human resources, international hospitals and nursing home projects, international school.

Minh said the new Lien Chieu Port was planned for construction with an investment of VND10 trillion (US$435 million).

 

VNA

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