Wednesday, September 18 2019

VietNamNews

Đà Nẵng licenses $419m in new projects; $2.6b proposed

Update: March, 01/2019 - 07:00
An entrance to an industrial Zone in Đà Nẵng. The city has granted investment licences to seven projects and proposals to 15 more. — VNS Photo Công Thành
Viet Nam News

ĐÀ NẴNG — The central city’s People’s Committee said it had granted licences to seven foreign direct investment projects worth US$419.4 million, and agreed investment research for 15 other projects worth an estimated $2.6 billion.

The city said the projects included three automobile production and accessories projects from Malaysia, Russia and Taiwan, and two tourism property projects from Japan.

Mabuchi Motor also planned to expand its plant in Hòa Khánh Industrial Zone with $30 million, while Tan Chong Group has agreed to pour $50 million to build a second Nissan car manufacturing factory in the zone.

Property companies Katsuura Hotel Mikazuki and Sun Frontier Investment have agreed to spend more than $156.4 million on a five-star resort and riverside tower project.

Russian automotive manufacturer Gorkovsky Avtomobilny Zavod (GAZ) in a joint-venture with local Thành Đạt Group would build an automobile plant at Hòa Khánh IZ, while Taiwanese Hao Hsing Investment Company would start manufacturing exhaust pipes for cars and motorbikes.

In a statement released on Wednesday, the city said it had given permission for a joint-venture between Sakae Holdings and Fission Holdings from Singapore and import-export Newtechco of Việt Nam to survey a finance, trade and casino (Đà Nẵng Gateway) project in Sơn Trà District with estimated funding of $2 billion.

The Hòa Cầm Industrial Zone has given permission for studies into developing the Hòa Cầm IZ in the second phase with an expected investment $1.63 billion.

Property developer Sun Group has also proposed two entertainment projects in Hòa Vang and Ngũ Hành Sơn districts worth $840 million.

IT giants, the Việt Nam Posts and Telecommunications (VNPT) Group and Military Telecommunications Group (Viettel), are looking to develop a software park and an IT centre in downtown Liên Chiểu and Hải Châu with total capital of $155 million.

Alton International Enterprises from Hong Kong and Key Tronic EMS from the US have also proposed two electronics manufacturing projects with a total of $137 million in investment.

The Việt Nam Dairy Products Joint Stock Company (Vinamilk) plans to build a dairy farm in Hòa Vang District with $31 million.

The city said investors would be allowed to start their studies for the proposed investment projects before submitting plans to the city for approval. — VNS

A ship at a factory in Đà Nẵng. The city eyes investment in hi-tech industries. — VNS Photo Công Thành

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