Đà Nẵng calls for investment from Samsung Việt Nam

April 04, 2022 - 08:32

The central city of Đà Nẵng will offer the most favourable conditions for Samsung to expand cooperation and investment in the city and central Việt Nam


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ĐÀ NẴNG — The central city of Đà Nẵng will offer the most favourable conditions for Samsung to expand cooperation and investment in the city and central Việt Nam.

The city’s Party secretary Nguyễn Văn Quảng made the remarks in a meeting with the General Director of Samsung Việt Nam Choi Joo Ho during a visit to Đà Nẵng on April 1.

Quảng said Samsung Việt Nam had invested in the north and south of Việt Nam but not yet in central provinces and cities.

He expects Samsung Việt Nam to eye investment in high-tech and information technology and software parks in Đà Nẵng, where infrastructure is available for investors.

Choi Joo Ho said Samsung Việt Nam had built six plants, including two smartphone factories in Bắc Ninh and Thái Nguyên provinces, and an R&D centre and a home electronic appliance manufacturing factory in HCM City since it set up investment in Việt Nam in 2008.

He asked Đà Nẵng to support Samsung Việt Nam’s trading activities in the city, including the 5G network project.

Local telecommunication developer Viettel, in cooperation with Samsung Việt Nam, launched a pilot 5G network project in Đà Nẵng last December – a base for building Đà Nẵng as a ‘smart’ city by 2025.

Đà Nẵng has been calling for investment in information and communications technology (ICT) from South Korea - one of five top foreign investors in the city - with 233 projects worth US$378 million.

The city had made ICT infrastructure available to Korean investors for post-COVID-19 economic recovery.

South Korea’s LG Electronics began construction of its R&D centre – the second in Việt Nam – in Đà Nẵng last year.

The leading Korean hospitality corporation, Shilla Hotels & Resorts, debuted the Shilla Monogram Quảng Nam-Đà Nẵng resort on the beach of Quảng Nam and Đà Nẵng, with a total investment of $50 million.

Before the pandemic, local and Korean airlines hosted 214 direct and chartered flights and carried 1.5 million tourists to the central city (50 per cent international visitors) per week.

Flights between Đà Nẵng and Korea are planned for reopening in the second quarter of 2022.

In 2020, the Consulate General of the Republic of Korea was opened in Đà Nẵng, boosting investment and trade between Korea and central Việt Nam.


A high-tech factory is built in Đà Nẵng Hi-tech Park. The city has been calling for investment in high-tech and information technology from the US, Japan, Korea, and Taiwan. Photo courtesy of Long Hậu Corporation 

The South Korea Trade and Investment Agency also opened its office in Đà Nẵng to promote investment and connection among Korean investors.

Six industrial zones and a high-tech park in Đà Nẵng drew 503 projects, including 130 FDI worth $1.8 billion and VNĐ27.56 trillion ($1.2 billion), respectively, from domestic investors. — VNS