Making the city’s Hi-Tech Park an attractive investment destination

The headquarters of the Authority of Da Nang’s Hi-Tech Park and Industrial Parks

The project will receive over 3,142 billion VND (over 134 million US$) national government funding, over 1,491 billion VND (nearly 64 million US$) from the city budget, and the remainder from other sources.

Till date, 3,013 billion (over 128 million USD) has been used for the project. Of this figure, 1,580 billion VND (more than 67 million USD) has been funded by the national government, whilst the remaining 1,433 billion VND (approximately 61 million USD) has come from the city budget.

So far this year, the 1

^st

and 2

^nd

stages of the project have been basically completed. Meanwhile, 40% of the work in the 3

^rd

stage of the project has been already finished.

The already-completed items include the 1

^st

stage of a concentrated wastewater treatment plant in the Hi-tech Park and a hi-tech business incubator.

Until now, the project’s developers have completed the site clearance and compensation for 2,913 out of 2,979 families affected by the project. However, 66 site occupants are still living there. To date, 14,500 graves have been moved out of the site.

In order to ensure the on-schedule progress of the project, the municipal authorities urged relevant agencies to complete removal of remaining site occupants by June.

Employees at the Da Nang Hi-tech Park-based East Sea Technology Engineering Electrical Automation Company (ESTEC)

Mr Vuong Ngoc Hoang, Director of the East Sea Technology Engineering Electrical Automation Company (ESTEC), highlighted the significance of the infrastructure project in the Hi-Tech Park in enabling domestic and foreign businesses to operate effectively there.

Statistics released by the Management Board of Hi-tech Park Construction and Investment Projects show that the Hi-tech Park has to date attracted 18 projects, including 9 FDI projects totalling 336.9 million US$.

To date, four FDI and two domestic investors have been already put into operation. Included are the 170 million US$ Sunshine aerospace components factory, the Tokyo Keiki Precision Technology Inc, the Niwa Foundry from Japan, the ICT Vina medical equipment factory, the Long Hau JSC-developed hi-tech factory cluster, and the ESTEC factory.

Mr Pham Truong Son, the Head of the Authority of Da Nang’s Hi-Tech Park and Industrial Parks, remarked that the city’s Hi-Tech Park is very attractive to both domestic and foreign investors, especially those from the USA, Japan, South Korea, Singapore and European countries.

The Authority is on its way to realising its goals of making the city’s Hi-tech Park an attractive investment destination with a focus on boosting cooperation with its international partners, and creating closer links with high-tech and industrial parks, and economic zones nationwide.

Special attention will be paid to attracting the world’s leading technology corporations from such foreign countries as Japan, South Korea, the USA and European countries.

Source: Da Nang Today