Đà Nẵng seeks EU investment

June 16, 2018 - 09:00

The central city has been compiling simplified investment procedures to support European businesses with more transparency and a reduction in informal charges.

A ship is built at Đà Nẵng-based Sông Thu Ship-yard building Corporation. Ship-building is one of hi-tech industries that the city want to lure more investment from EU. — VNS Photo Công Thành
Viet Nam News

ĐÀ NẴNG — The central city of Đà Nẵng has been compiling simplified investment procedures to support European businesses with more transparency and a reduction in informal charges.

Speaking at the Whitebook Briefing 2018 between representatives of EuroCham, European businesses and the city’s leadership on June 14, deputy director of the city’s Investment Promotion Agency Huỳnh Thị Liên Phương said new procedures would be introduced later this year, helping European investors to obtain investment licenses, clear land and understand tax and customs regulations.

She said Đà Nẵng had been working hard on administrative reform while it promoted 2018 as The Year of Investment Attraction.

Phương said the city would offer co-operative opportunities to European partners and local colleges to boost education, information and communication technology (ICT) and human resources training.

Chairman of the city’s people’s committee, Huỳnh Đức Thơ said the city would create favourable conditions for investors and tourists from the EU.

He said Đà Nẵng and EuroCham had been co-operating well to promote the city’s investment environment.

EuroCham’s co-chairman Denis Brunetti said: “EuroCham and Đà Nẵng have been cooperating closely for the past two years, and that is also due to the excellent work of our local EuroCham central Việt Nam delegates.”

The local government understands that EuroCham members and European business at large could be the best partners for their investment strategy vision over the next few years, betting on excellence in ICT, tourism, education and other value-added sectors – in which European businesses are global leaders, he added.

Brunetti also introduced the focus and content of the Whitebook 2018 at the meeting, highlighting its most important sectoral and cross-sectoral issues and recommendations, ranging from important regulations on distribution and customs, to calls for greater enforcement of sustainable practices among businesses in Việt Nam.

The Whitebook 2018 was officially launched in Hà Nội.

EuroCham member Catherine McKinley, director of Greenshoots International School, raised concerns about how difficult it was for foreign teachers to gain permission to work in Việt Nam.

She said some foreign teachers wasted time and money in order to obtain the necessary paperwork.

Jose Sanchez-Barroso Gonzalez, vice consul honourary of the Kingdom of Spain in Đà Nẵng, suggested more direct flights from Europe to Đà Nẵng with connections to popular destinations in central Việt Nam and Southeast Asia.

He said Đà Nẵng should connect with Hội An, Huế and Quảng Ngãi to offer extension stays for European tourists, and Đà Nẵng could also become a base for connections with Siem Reap, Luang Prabang, Bali and Phuket.

Gonzalez said Đà Nẵng should develop a master plan for tourism development that focuses on sustainable business and a ‘green’ environment.

Đặng Ngọc Hải, branch director of Axon Active Việt Nam, said the city should consider how it can reduce training times for ICT students while improving the quality of students to meet the increasing demand for manpower in the IT sector.

He also said that English language skills could help IT students get jobs for foreign companies in Đà Nẵng.

Nguyễn Hải Minh, the tax and legal partner at Mazars Việt Nam, said local authorites should apply international standards when it comes to tax and transfer pricing to ease pressure on the tax system.

He said support measures for SMEs and start-ups should also be implemented.

There are currently 73 EU-backed FDI projects in Đà Nẵng worth US$219 million. French investors account for 40.5 per cent of FDI investment from the EU, with 21 projects in the city.

Import-export turnover between the city and the EU reached $316 million in 2017. — VNS