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Da Nang lures more than $3b in 200 FDI projects

Update: February, 23/2012 - 09:07

DA NANG — Up until mid-February, the central city of Da Nang attracted more than 200 foreign-invested projects worth well over approximatey VND64.5 trillion (US$3.16 billion), according to the local Investment Promotion Centre.

For the first two months of this year, Da Nang recorded two giant projects which include a 100 per cent Belgian capital project and a joint business project between a Vietnamese enterprise and a Vietnamese American company, at a total estimated cost of over VND193 billion ($9.2 million) .

The city has established six industrial zones with equipment and infrastructure appropriate for most economic sectors, which has helped Da Nang attract 330 foreign enterprises.

Most investors are from Japan and the European Union, which among others, who plan to carry out long-term projects with clear and detailed strategies.

In other words, Da Nang's investment environment has changed significantly since the appearance of foreign-invested projects. They greatly help economic sectors develop and boost the globalising economic process in the area.

The foreign-invested projects annually earn foreign businesses approximately VND3 trillion ($143 million).

Additionally, the foreign -invested projects contributed to an increase in the city's export turn-over throughout the year 2010, marked at just under about VND38 trillion ($1.759 billion), triple the figure in 2000.

Last year, despite the financial depression, the export turn-over still satisfied the city's plans with an estimated $1.42 billion.

In order to help foreign direct companies, the city is now concentrating on enhancing infrastructure and setting up more industrial zones as well as supporting them by solving problems related to procedures and investment certificates. — VNS

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