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Da Nang accelerates FDI to meet the needs of global economic integration
8/3/2007 16:38' Send Print

Ten years after becoming an administrative unit, which directly belongs to the central Government and particularly in the early part of the 21st century, Da Nang city has accelerated foreign investment, making positive contributions to attracting more FDI, promoting the city’s image and improving the investment environment in the city. Up to now, 23 countries and territories have invested in Da Nang. Leading investors are the US, the Republic of Korea, Japan, Taiwan and Singapore. In addition to these investors, 135 representatives and branches of FDI-invested companies are operating in the city. From 2001 to 2006, another 58 FDI projects were licensed to operate with a total registered investment value of US$ 526.7 million. These positive outcomes can be attributed to many reasons, in which efforts calling for investment are very important. The following is some typical points:

First, the city has adopted open and transparent policies and mechanisms to attract foreign investment. It has issued decision, giving priorities to FDI projects in the city in each period, streamlining administrative procedures in foreign investment, providing space for enterprises and businesses.

Second, it has adjusted, added and issued a list of projects to call for FDI in a timely fashion.

Third, Da Nang has effectively marketed and promoted the city’s image, environment and investment opportunities, and regularly provided updated information on the city’s websites. These updates provide information on socio-economic development in the city and the entire country, new legal documents and investment opportunities for international investors, international organisations such as the Japan External Trade Organization, JETRO, and Korea International Trade Association, KOTRA, foreign embassies and general consulates.

Fourth, it has organised and participated in conferences and workshops to promote and mobilise investment. It has also organised some seminars to campaign for investment in the country and overseas.

Fifth, the city has provided training for the staff involving in investment promotion.

Phan Van Tam