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Da Nang Calls For Investment In A Series Of “Billion – Dollar Project”

Da Nang called for billions of dollars

On 15th October, at the Ariyana Convention Center, there was an opening ceremony of the Danang Investment Forum 2017 (IDF 2017) to introduce the city’s development prospects with new investment opportunities as well as preferential policies, specific investment.

Da Nang called for billions of dollars
Prime Minister Nguyen Xuan Phuc chaired the forum

The forum was hosted by Prime Minister – Nguyen Xuan Phuc, Da Nang Party Secretary – Truong Quang Nghia, Minister of Planning and Investment – Nguyen Chi Dung and VCCI Chairman – Vu Tien Loc.

The most attractive destination

Opening speech of the Forum, Secretary of Da Nang Party Committee – Truong Quang Nghia said, regarding Danang, people mention a young, dynamic, clean and green city. Especially, Da Nang is a tourist attraction in Central Vietnam.

Danang’s infrastructure is the most synchronous and modern system in the central region with a container port with a capacity of 12 million tons of cargo; The international airport can receive up to 12 million passengers and 50,000 tons of cargo per year; Six industrial parks, one high-tech park and one centralized IT center are in operation.

The information technology infrastructure of Danang is the most modern in Viet Nam. Over the past eight years (from 2009 to 2016), the city has been leading the country in terms of readiness index for development and application of information technology in Vietnam (Vietnam ICT Index).

Da Nang called for billions of dollars
The Prime Minister welcomes domestic and foreign investors to the Forum

Da Nang is also a center of education and training of the Central with a comprehensive training system including 24 universities and colleges, 19 professional secondary schools and 59 vocational training centers. The abundant human resources makeup 70% of the population, and having the professional skill, that is a great advantage of Da Nang in attracting investment.

“The business and investment environment in Danang is constantly improving in a transparent manner with attractive investment incentive policies,” said Party Secretary Truong Quang Nghia.

Danang is voted by the business community as having the best business environment in Vietnam with seven times leading in the country in the Provincial Competitiveness Index (PCI), leading the region in terms of indexes. Public Administration Reform – PAR INDEX from 2013 to 2016, and for 6 consecutive years are among the provinces with the highest ranking in the Provincial Governance and Public Administration Performance Index (PAPI) from 2011 to 2016.

Vice Chairman of Da Nang People’s Committee Ho Ky Minh give more information that from 2012 to now, Da Nang has maintained the GRDP growth rate from 8-9%, much higher than the national average growth. GDP per capita has been increasing steadily over the years and reaching approximately $ 3,000 in 2016.

Up to September 2017, Da Nang has attracted 400 domestic projects with total investment capital of 90 trillion Viet Nam Dong (The US $ 4.5 billion) and 495 foreign direct investment projects with registered capital reached to $ 3.024 billion. In addition, up to now, there are 13 investment projects with total registered capital of VND 18,485 billion (roughly 815 million USD).

Da Nang called for billions of dollars
Secretary of the Da Nang Party Committee Truong Quang Nghia delivered the opening speech of the Forum

New opportunities

“At this investment forum of 2017, Da Nang city would like to introduce domestic and foreign business community about development prospects of Da Nang city with new investment opportunities, Specific investment policies, “said Truong Quang Nghia.

This is also an opportunity for businesses to propose ideas to leaders of the Government as well as the city’ s authorities can take the lead and find out solutions to remove obstacles in the process of investment and business.  Da Nang city wants to welcome more and more tourists and investors to visit and decide to invest in the city, said Truong Quang Nghia.

Vice Chairman of Da Nang People’s Committee Ho Ky Minh said that Da Nang is calling for investment in Lien Chieu port project, the railway station relocation and urban redevelopment project, infrastructure development projects at Hoa Nhon and Hoa Ninh industrial zones.

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In the above projects, Danang City calls for investment in the construction of Lien Chieu Port in the form of public-private partnership (PPP). Lien Chieu Port is expected to have a total investment capital of around 7,378 billion VND ($ 324 million USD) and this project will be operated in 2022. According to Mr. Minh, there are seven domestic and foreign investors who sent proposals to invest this project.

Meanwhile, the Da Nang city railway and urban redevelopment project has an investment capital of 15,441 billion VND ($ 678 million).

Da Nang called for billions of dollars
Prime Minister Nguyen Xuan Phuc attends the ‘Danang Investment Forum 2017

In the environment’ s field, the city called for the investment of Da Nang city’s solid waste treatment complex in Hoa Vang district with a total investment of 2,200 billion VND ($ 96 million USD). There are about 20 investors that are interested in this project.

Besides that, Da Nang is calling for investment projects environmental improvement city with a total investment capital of about 3,120 billion VND.

With the field of tourism – real estate, Da Nang called for the investment of 200 hectares botanical park, tourism pier.

“Follow with the upward trend of the country as well as the real estate development fund of the city, the merger and acquisition are quite exciting with diversified forms of real estate business which creates a dynamic and attractive investment environment for domestic and foreign investors, “said Ho Ky Minh.

According to Danang Department of Planning and Investment Director Tran Van Son, Da Nang is calling for investment in the tramcar project connecting Da Nang-Hoi An.

Specifically, the project needs a capital of 7,497-14,995 billion VND (roughly $ 330-660 million USD) in the form of ODA or PPP investment. The implementation period is from 2017 to 2023.

It is known that the railway line will be about 33 km long, the main route connecting is from the Da Nang International Airport through the city center to Hoi An along the coastal road. In the form of ODA loans, investors need to borrow $297-594 million USD. Counterpart funds from the local budgets of Quang Nam and Da Nang paid $ 33-66 million USD.

Also at the forum, Prime Minister Nguyen Xuan Phuc witnessed the granting of investment registration certificates, research project agreements and investment cooperation agreements, loan assistance, etc. for 27 invested projects in Da Nang with a total capital of more than 35,000 billion.

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Da Nang Calls For Investment In A Series Of “Billion – Dollar Project”
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