Tuesday, January 22 2019

VietNamNews

Đà Nẵng’s FDI projects worth $2.9 billion

Update: January, 03/2019 - 11:00
A factory of Niwa Foundry company from Japan, in operation at Đà Nẵng’s Hi-Tech Park. The city has attracted 679 foreign direct investment projects worth $2.9 billion. — VNS Photo Công Thành
Viet Nam News

ĐÀ NẴNG — The central city of Đà Nẵng granted new licences to 126 foreign direct investment (FDI) projects in 2018 with a total investment value of US$155.9 million – double the level it saw in 2017.

Director of the city’s planning and investment department Trần Phước Sơn said the city also agreed to six new projects from domestic investors worth VNĐ6.3 trillion ($278 million).

According to the latest report from the department, Đà Nẵng has attracted a total of 679 FDI projects worth $2.9 billion and 322 domestic projects worth VNĐ95.876 trillion ($4.2 billion).

Sơn said the city saw 22 projects in industrial zones (IZs) worth a total of $60.5 million and seven projects in the Hi-tech Park worth $204 million in 2018 alone.

To date, the city has drawn 473 projects in IZs worth $1.8 billion, while the Hi-tech Park alone had 15 projects worth $390 million.

Tourism estate and service projects made up 60 per cent of all new FDI projects in 2018, while manufacturing industry projects were the other 40 per cent, a report from the city’s investment promotion agency showed.

Singapore was the biggest source of investment in Đà Nẵng with 23 projects worth $717 million, while Japan came behind with 134 projects worth $598 million.

The US ranked third with 46 projects worth $517 million. South Korea was the fourth with total investment of $244.6 million.

Đà Nẵng will encourage investors in hi-tech industries and high-quality services in the form of PPPs (public-private partnerships) as well as investments in waste treatment, infrastructure and solar and wind power.

The city has 68 PPP projects, 22 of which are in the hi-tech sector, with an estimated investment of $1.4 billion in 2017-20.

Đà Nẵng also designed a 1,010 hectare high-tech park as a hub for green and hi-tech investors from Japan, Thailand, South Korea, Singapore and the US. — VNS

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