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Da Nang property swallows FDI

Update: September, 15/2012 - 08:31

DA NANG (VNS)— About 70 per cent of foreign direct investment (FDI) in central Da Nang City has been spent on real estate projects, the city's Planning and Investment Department has reported.

The city has attracted 218 FDI projects with a capital of US$3.45 billion. $2.1 billion of this sum was invested in real estate.

Since early this year, 165 of Da Nang's FDI enterprises have created over 38,000 jobs with an average monthly income of VND2.8 million ($133). Da Nang's administration has asked the Ministry of Planning and Investment to call for funding from the Asia Development Bank so that construction may begin on the 1,100km East-West Economic Corridor No 2 that will link Da Nang port with Quang Nam province, Boloven in Laos and Bangkok, Thailand.-VNS

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