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Denmark helps support central city businesses

Update: August, 09/2014 - 10:23
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DA NANG  (VNS) — Denmark is stepping up support for private sector development in the central city and neighbouring provinces with two programmes, deputy head of mission of the Danish Embassy Christian Brix Moller said at a seminar yesterday.

The business partnership programme, which aims to support the establishment of commercial partnerships between Danish and Vietnamese companies, has granted more than US$74 million to 310 projects and 150 long-term partnerships in Viet Nam since 1997.

"Da Nang has witnessed remarkable development over the last decade and has been at the forefront of attracting foreign investment. The local authorities have created a good enabling environment for business," Moller said.

He also praised the city's impressive infrastructure and incentives for private businesses.

The Business Finance programme, which offers interest free or low interest loans to finance equipment and related services for development projects, has committed more than $100 million loans to 10 projects in Viet Nam. The programme prioritises projects in the fields of renewable energy, environment, healthcare, education, solid waste treatment and management, seafood and agriculture. It also offers interest free or low interest loans for Green Growth development projects.

Nguyen Kim Quy, who is working on the project, said the Business Finance programme would offer interest-free loans from $6.7 million to $67 million for Vietnamese businesses with a 10-year term and a six-month extension.

Nine businesses in the central region currently export fine arts, seafood and garments to Denmark. Total export turn-over from these businesses reached $10.5 million last year and has approached $9 million in the first six months of this year, according to the Viet Nam Chamber of Commerce and Industry (VCCI).

Da Nang was the first city in Viet Nam to apply a pilot project for renewable energy. The city, which plans to develop as a "green city" by 2025, has attracted 288 FDI projects with capital of $3.33 billion. — VNS


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