Da Nang revives FDI inflow
Da Nang aims to attract 7 billion USD of FDI by 2030 (Photo: VNA)
The central beach city of Da Nang is taking measures to revive the foreign direct investment (FDI) flow with a view to attracting 7 billion USD in this capital by 2030.
In the first two months of this year, Da Nang licenced 16 new FDI projects with a total registered capital of 2.55 million USD, a decrease of 53.6% in value year-on-year.
To date, the city has lured 965 FDI projects with a total registered capital of over 4.065 billion USD, mostly in industry and real estate. Japan is the city’s biggest investor with more than 900 million USD, followed by Singapore, the US and the Republic of Korea.
However, the FDI inflow into the city has experienced a downward trend in recent time due to the impact of COVID-19 pandemic.
Particularly, during 2020-2021, most FDI enterprises in the locality suffered losses and were forced to lay off employees. Notably, 57 FDI projects were terminated from 2018-2022.
According to the municipal Department of Planning and Investment, although the total new FDI capital into Da Nang in 2022 decreased, the capital contribution and share purchases increased with a total value of more than 58 million USD, soaring 509.3% from 2021.
Tran Thi Thanh Tam, Director of the department, said the city will focus on completing infrastructure projects in the development of high-tech industry, information technology and logistics. It is accelerating the completion and upgrading the technical infrastructure of such industrial zones as Hoa Nhon, Hoa Ninh and Hoa Cam - phase II, Da Nang hi-tech support industrial park, and expanding the hi-tech park. At the same time, it will step up investment promotion in more perse and practical forms in order to lure more investors.
Vice Chairman of the municipal People's Committee Ho Ky Minh shared that the locality is preparing a land fund for industrial development, supporting industries, high technology, and information technology to welcome capital flows shifted to Vietnam. It will also focus on developing high-quality human resources while removing difficulties and obstacles to create the best conditions for investors in the locality.
Da Nang aims to attract 7 billion USD of FDI by 2030, with 3 billion USD during 2021-2025 and the rest in 2026-2030./.
Related News

Exchange rate risks need attention in near future
16:31 | 15/02/2025 Import-Export

Numerous FDI enterprises face suspension of customs procedures due to tax debt
09:57 | 18/12/2024 Anti-Smuggling

State revenue collection poised to surpass annual target
10:11 | 12/11/2024 Finance

Breakthrough policy to attract new generation FDI
10:26 | 29/09/2024 Import-Export
Latest News

Embracing green exports: a pathway to enter global supply chains
10:33 | 20/02/2025 Import-Export

New policy proposed to prevent transfer pricing, tax evasion of FDI enterprises
10:32 | 20/02/2025 Import-Export

Việt Nam’s durian exports to China plummet by 80%
16:18 | 19/02/2025 Import-Export

Coconut exports reach 14-year high
15:29 | 18/02/2025 Import-Export
More News

Shrimp exports grow in the first month of 2025
15:28 | 18/02/2025 Import-Export

Rice export prices drop, but decline expected to be short-term
08:10 | 17/02/2025 Import-Export

Key agro products expected to maintain export growth this year
08:08 | 17/02/2025 Import-Export

EU issues 12 warnings against Việt Nam’s food and agricultural exports
08:07 | 17/02/2025 Import-Export

Việt Nam to impose VAT on low-value express-imported goods
08:06 | 17/02/2025 Import-Export

Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month
16:30 | 15/02/2025 Import-Export

Import and export turnover reaches about US$29 billion in the second half of January 2025
14:52 | 14/02/2025 Import-Export

Market edges up slightly as liquidity remains low
14:48 | 14/02/2025 Import-Export

Business regulations must be trimmed for development of enterprises: Experts
14:46 | 14/02/2025 Import-Export
Your care

Embracing green exports: a pathway to enter global supply chains
10:33 | 20/02/2025 Import-Export

New policy proposed to prevent transfer pricing, tax evasion of FDI enterprises
10:32 | 20/02/2025 Import-Export

Việt Nam’s durian exports to China plummet by 80%
16:18 | 19/02/2025 Import-Export

Coconut exports reach 14-year high
15:29 | 18/02/2025 Import-Export

Shrimp exports grow in the first month of 2025
15:28 | 18/02/2025 Import-Export