FDI inflow in Da Nang hits nearly 700m USD in 2019

Foreign investors pumped nearly 700 million USD into the central coastal city of Da Nang in 2019, according to the municipal Department of Planning and Investment.

FDI inflow in Da Nang hits nearly 700m USD in 2019 hinh anh 1

A corner of Da Nang city 

Of the total, about 440million USD wasinvested in 132 newly-licensed projects during the year, eight times higherthan one year ago, while 120 million USD was added to 16 operating projects, 63times higher than 2018’s figure. 

During the year, foreigninvestors also spent 135.3 million USD on capital contribution and sharepurchase in domestic enterprises, nearly triple that of 2018.  

In addition toforeign-invested projects, the city last year also granted in principleapproval for nine domestically-financed projects, worth 8.82 trillion VND. That brought the number of projects inthe locality up to a value of more than 104 trillion VND.

 

The positive figures wereattributable to local authorities’ great efforts in accelerating administrativereforms to better facilitate domestic and foreign investors, according to the department’sdirector TranPhuoc Son. 

This year, the city willconcentrate on developing technical infrastructure of industrial zones andclusters and fostering investment promotion targeting foreign businesses whowill invest in the city’s key sectors, such as IT and supporting industries, Son said.  

In order to continue luringinvestment, the city will deploy a number of key projects such as anoverall development plan for Da Nang Hi-Tech Park; one-stop shop model for thepreparation, licencing and management of investment projects outside industrialparks and hi-tech zones and the improvement of hi-tech innovative featuresand hi-tech start-ups, the online newspaper  nhandan.com.vn citedvice chairman of the municipal People's Committee, Ho Ky Minh, as saying.

The city also focuses onpromoting activities and events which effectively approach strategic investorsin key markets, such as Japan, the Republic of Korea, Singapore, the US and Europe, hetold the newspaper./.VNA

 
 

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