The central city's Investment Promotion Centre has inked an Information Technology (IT) investment agreement between the Self Wing Viet Nam Company and the Saitama Business New Forum from Japan.

A corner of Hia Cầm Industrial Zone in Đà Nẵng city. The central city has offered favourable conditions to attract Japanese investors in Information Technology.

The agreement, which was signed at a conference on IT and Communication Investment and Co-operation between Japan and Da Nang on September 8, is the first instance of Japanese IT investment in Da Nang and the beginning of an effort to lure investment flow from Japan to the central city and central Viet Nam.

Over 160 representatives from Japan Trade Promotion agency, Tokyo Business Association and Japanese Business Association—as well as 37 Japanese investors—paid a field trip to explore cooperation and investment opportunity at the city's Industrial Parks and its Information Technology Park.

According to latest report from city's administration, Da Nang has drawn 423 Foreign Direct Investment Projects worth US$3.7 billion. Of that number, 55 IT projects have raised over $12 million in capital.

Tokyo Keiki Inc. and Niwa Foundry were the first two investors in the 1,010-ha Hi-Tech Park, with a total investment of $62 million.

Vice chairman of the central city's people's committee, Ho Ky Minh, said the city awards top priorities to Japanese investors and creates favourable policies for Japanese businesses operating in Da Nang.

Right now, Japanese investors bring the city a total of $500 million, creating 40,000 jobs for the city and neighbouring provinces.

The city's investment promotion centre also debuted its Japanese Desk Da Nang team, which will be available every Wednesday to support Japanese investors by explaining administrative procedure, investment licenses and priority policies, or helping with any other adjustments.

Da Nang and Japan will start construction of the first Viet Nam-Japan Culture Exchange Park this October, and it will reserve a 134ha industrial park for medium and small-size businesses from Japan.

A direct flight between Narita and Da Nang was opened in 2014, and a new Da Nang-Osaka flight is expected to open this October.

A recent survey of Shoko Chukin Bank from Japan showed that 40.7 per cent of 3,750 respondents from various Japanese businesses in Japan said they would invest in Viet Nam.

The city planned to build an industrial park spread over 134ha for medium and small-size businesses from Japan.

Last year, FPT Software, a company of FPT Group, began the 10,000-Bridge Software Engineer (BrSE) programme in Japan as part of its human resource strategy in the 2014-18 period, and a key project for boosting the Japanese IT market by 2020.

Last year, the city also organised an investment promotion week in Japan for the Japanese Business Association, or Keidanren, and 120 Japanese businesses.

According to the Japan External Trade Organisation (JETRO), 66 per cent of the 458 Japanese firms based in Viet Nam planned to expand their business during the next one or two years.

VNS