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FDI firms contribute to Da Nang's growth

Update: February, 02/2012 - 09:41

 

A view of Da Nang city. The city has enjoyed huge benefits from foreign direct investment. — VNA/VNS Photo An Dang
DA NANG — Foreign invested enterprises had contributed positively to the growth of Da Nang's industrial area, said the city's Investment Promotion Centre director Lam Quang Minh.

"They generate significant foreign trade values and lure a large labour force," Minh said.

At present, the central city has 65 foreign invested firms investing in six industrial zones with a total registered capital of US$574 million. They disbursed around $351 million, 70 per cent of the total, and attracted about 33,700 workers.

The number of operating US-invested projects reached 23 with a total capital of over $375 million, representing nearly 12 per cent of all foreign investment in Da Nang.

These projects included the $50,000 AU Mechatronics Consultancy Project, which received an investment certificate earlier this year to develop consulting services for water, electricity and industrial installation.

Last year, these companies reached a production value of nearly VND3 trillion ($142.86 million), up 17 per cent over the previous year. Their export value reached about $400 million, a year-on-year increase of 18 per cent.

In order to boost both domestic and foreign investment, Minh said the city would offer incentives in the form of favourable immigration conditions, and would also co-operate with local universities in training human resources to meet firms' demands.

It would also help investors seek loans and support themselves while establishing hi-tech companies, he added.

At the end of last year, the People's Committee issued a decision putting in place preferential policies to support investment in the city's hi-tech park, especially in the fields of infrastructure, production, housing and service industries.

The policies included discounts for and exemptions from land rent, taxes and infrastructure use fees. — VNS

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