VietNamNet Bridge – Da Nang has invested VND363 billion (US$16 million) to complete the second-stage infrastructure for the 1,010-hectare Hi-Tech Park in Hoa Vang District, 20km west of the city.

A corner of Hi-tech Park in Hoa Vang District in Da Nang City. The city invest in infrastructure to lure investors in the park. — Photo: VNS

The park’s managing board said the fund will be used for construction of series of traffic, waste water treatment, lanes, land clearance, bridges, parks and water supply system projects.

The central city aims to create ‘clean’ land, working shops and available infrastructure for investors in coming years.

Last year, the city granted an investment licence to Da Nang Pharmaceutical Joint Stock Company (Danapha)’s first nano-technology and biotech project, with an investment capital of VND1.5 trillion ($67 million) in the park.

Two Japanese companies, Tokyo Keiki Precision Technology Inc and Niwa Foundry, with a total investment of $62 million, were the first investors since the park opened in 2013.

In 2015, Tokyo Keiki Precision Technology Inc inaugurated its first plant outside Japan on a 30-hectare at the park with a capacity of 50,000 digital directional valves per month for the Asia-Pacific region.

Da Nang will exempt 100 per cent land rent for infrastructure, research, training and housing project.

According to the latest reports, Da Nang has attracted 423 foreign direct investment (FDI) projects worth $3.68 billion to date.

FDI enterprises earned revenues of $776 million - of which $522 million came from exports - and contributed $112 million to the State budget in 2015.

Source: VNS