Central beach city to lure investment from potential partners

A truck in Đà Nẵng City's Tiên Sa Port. The city promoted an investment programme in boosting links and investment from key investors from the US, EU, the UK and India. VNS Photo Công Thành

The central city’s People’s Committee has officially issued an investment promotion programme for 2024 aiming to persify partners and investment flows for new development.

The city said the programme will focus on calling potential domestic investors in hi-tech industries, semiconductor, information technology as well as giant technology companies from the the Europe Union, the US, Japan, South Korea, Singapore, India, and Taiwan (China).

It said the central hub will welcome all investors with planning for investment expansion or fund flow moves in the region.

Đà Nẵng has mapped out its Master Plan in 2021-30 with a vision to 2050, opening smooth options for domestic and foreign partners in line with the city’s strategic development plan for the next decades.

In boosting promotion events with partners, the city will seek collaboration with organisations including – the Việt Nam Chamber of Commerce and Industry (VCCI), Japan External Trade Organisation (JETRO), the Korean Chamber of Business in Việt Nam (KOCHAM), the American Chamber of Commerce in Việt Nam (AMCHAM), Indian Business Chamber in Việt Nam (Incham); the European Chamber of Commerce in Việt Nam (EuroCham) and the German Chamber of Commerce Abroad in Việt Nam (AHK) – in hosting investment studies and market access research as well as business links.

An entrance to the international terminal of Đà Nẵng Airport. The city has called for investment from developed countries and key investors. Photo courtesy of AHT

The investment promotion programme will also include support and positive solutions in clearing barriers in investment procedure for investors.

It also emphasised the importance of building investment links and friendship ties with the US, Australia, the EU, Finland, the UK and Denmark, speeding up possible key investment projects in Đà Nẵng.

The central city signed Memorandums of Understanding (MoUs) with the Asian Development Bank (ADB) and the United States Agency for International Development (USAID) for comprehensive and sustainable development in the Master Plan 2021-30, vision 2050, at Meet Đà Nẵng 2024.

Đà Nẵng’s Semiconductor and AI Centre (DSAC) was also debuted early this year, setting up a foundation for investment flow of semiconductor industry from the US, Taiwan (China), Japan and the EU.

The beach city has been in discussions with TheCityUK, the industry-led body representing UK-based financial and related professional services, in building an international financial centre (IFC).

A new urban area west of Đà Nẵng City. The area will connect key industrial parks with sea ports and airport in the next decade. Photo courtesy of Trung Nam Group

The National Assembly of Việt Nam has agreed on the pilot project developing Đà Nẵng Free Trade Zone.

To date, the city has attracted 1,016 FDI projects worth US$4.2 billion. VNS