Da Nang prioritises FDI attraction in high-tech fields

In 2019, the central city of Da Nang will prioritise drawing foreign direct investment (FDI) in the fields of information technology, supporting industry, and high-quality services, especially in trade, tourism, logistics, healthcare, education, and high-tech agriculture.

According to Vice Chairman of the municipal People’s Committee Ho Ky Minh, local authorities will support those businesses investing in the city by pushing ahead with administrative reforms to reduce their production times and costs, and handling relevant procedures before and after granting licences to investment projects.

Further, the city will improve infrastructure to lure investment in high-tech parks and major projects, and provide legal investment knowledge for professionals operating in the field of investment promotion, he added.

As of November 2018, Da Nang issued investment policy decisions for six domestic projects worth over 6.35 trillion VND.

The city granted new licences to 126 FDI projects worth over 155 million USD in 2018, doubling that of 2017.

Singapore was the biggest source of investment in Da Nang, followed by Japan, the US, and the Republic of Korea.

To date, the city has counted 675 FDI projects with the total registered capital of about 2.88 billion USD.–VNA