Why Da Nang is a Place for Setting up Business?

Da Nang has been creating flexible policies, good environments attracting foreign investors setting up company, building factory, and developing service business.

Da Nang is a social and economic center of central area of Vietnam with the role as the center of industry, trade and tourism and service. It is a seaport city, an important transport hub for the transit of domestic and international transportation. Presently, Da Nang has been rising as a comprehensive and sustainability developing city.

With the advantages of geographical location, people and nature, the leader of Da Nang is planning to build the city becoming a major tourist center of the country, developing tourism industry with entertainment centers and luxury resorts in Vietnam.

In practice, Da Nang has been reducing administrative procedures, creating favorable conditions for investors in obtaining certificate for investment. In the meantime, the city also supports investors understanding the information and maintaining direct dialogue mode with businesses leaders and managers in order to promptly assist any difficulties encountered by investors in the process of project implementation. Da Nang’s leaders are famous in being proactive in providing the latest information about the law in investment, especially information on the process of changing investment certificate… to facilitate the investment plan of the investors whom are investing in Da Nang. For investment projects in infrastructure construction using ODA capital, the city has been quickly implemented the clearance and compensation in time to hand over the project site to the investors as planned.

To ensure the tourism environment and sustainable development, the city focuses on attracting projects in high technology industry, supporting industry and services with high added value i.e. information technology, education, healthcare and logistics…, especially favouring clean and quality projects rather than large projects but are likely to cause environmental issues.

Along with economic development, Da Nang also has activities and measures for environmental protection by investing in building projects to protect and improve the environment such as: modernization the sewer and wastewater treatment system (JICA), building east-west economic corridor (ADB)… to ensure sustainable and long term development of the economy.

An important element for economic development is the local security. Da Nang has done a great job in maintaining public security in order to guarantee investors a stable and safe political, social environment for investors.

It can be seen that Da Nang converges suitable elements and really is a promising land for investors both domestic and international, to invest in entertainment, real estate, tourism, IT, healthcare, education services.

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Why Da Nang is a Place for Setting up Business

Da Nang has been creating flexible policies, good environments attracting foreign investors setting up company, building factory, and developing service business.

Da Nang is a social and economic center of central area of Vietnam with the role as the center of industry, trade and tourism and service. It is a seaport city, an important transport hub for the transit of domestic and international transportation. Presently, Da Nang has been rising as a comprehensive and sustainability developing city.

With the advantages of geographical location, people and nature, the leader of Da Nang is planning to build the city becoming a major tourist center of the country, developing tourism industry with entertainment centers and luxury resorts in Vietnam.

In practice, Da Nang has been reducing administrative procedures, creating favorable conditions for investors in obtaining certificate for investment. In the meantime, the city also supports investors understanding the information and maintaining direct dialogue mode with businesses leaders and managers in order to promptly assist any difficulties encountered by investors in the process of project implementation. Da Nang’s leaders are famous in being proactive in providing the latest information about the law in investment, especially information on the process of changing investment certificate… to facilitate the investment plan of the investors whom are investing in Da Nang. For investment projects in infrastructure construction using ODA capital, the city has been quickly implemented the clearance and compensation in time to hand over the project site to the investors as planned.

To ensure the tourism environment and sustainable development, the city focuses on attracting projects in high technology industry, supporting industry and services with high added value i.e. information technology, education, healthcare and logistics…, especially favouring clean and quality projects rather than large projects but are likely to cause environmental issues.

Along with economic development, Da Nang also has activities and measures for environmental protection by investing in building projects to protect and improve the environment such as: modernization the sewer and wastewater treatment system (JICA), building east-west economic corridor (ADB)… to ensure sustainable and long term development of the economy.

An important element for economic development is the local security. Da Nang has done a great job in maintaining public security in order to guarantee investors a stable and safe political, social environment for investors.

It can be seen that Da Nang converges suitable elements and really is a promising land for investors both domestic and international, to invest in entertainment, real estate, tourism, IT, healthcare, education services.

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Da Nang – Singapore To Cooperate for Development

On May 12th, 2021, the representative of Da Nang city had a webinar with representatives of Ho Chi Minh City and Singapore on economic development, which the seminar was attended by nearly 200 companies from different industry whom are potential investors from Singapore, interested in setting up company in Vietnam.

During the seminar, the representative of Da Nang city introduced the investment and business environment, and preferential policies and investment opportunities of Da Nang city in the fields of high technology, information technology, high-quality services (health, education, logistics). The seminar received the sharing of experience when investing in Da Nang as well as the support of the city government from one of the largest Singaporean investors in Da Nang, and financial solutions when investing in Vietnam from some Singapore experts.

The representative from Singapore Business Federation highly appreciated the potential of the city’s business investment environment and proposed Da Nang city to establish the Da Nang Information Center (Da Nang Desk) located at the Vietnam Connection Center at the Singapore Manufacturing Federation (SMF) to connect Da Nang with Singapore companies.

Da Nang City is inviting Singaporean investors and businesses with financial and technological capabilities to learn about the business investment environment and cooperation opportunities in the city. The representative of Da Nang City highly appreciated the proposal to set up in Da Nang Information Center in Singapore and assigned the Investment Promotion and Support Committee to propose a model, serving as a bridge to support the environment and business investment opportunities of Da Nang to Singaporean enterprises in particular and international in general; thereby further promoting the investment cooperation relationship between Da Nang and Singapore in the coming time.

Singapore is one of Vietnam’s most important trade and investment partners. In 2020, despite being affected by Covid-19, Singapore invested in 248 projects in Vietnam with a total capital of nearly 9 billion USD, making it the leading country in foreign investment in Vietnam. Accumulated to the end of 2020, Singapore is the 3rd largest foreign direct investor in Vietnam after Korea and Japan with a total of 2,629 projects and a total registered capital of more than 56.5 billion USD. In 2020, the total two-way turnover between Vietnam and Singapore reach over 6.7 billion USD, of which the export value of Vietnam’s goods will reach 3 billion USD and the import value will reach USD 3.7 billion.

Singapore is one of the key markets for investment attraction of Da Nang, currently the city has 28 Singapore FDI projects with a total registered capital of more than 838.4 million USD, ranking 2nd in the list of more than 50 countries and regions, territory, accounting for about 22% of total registered investment capital.

Da Nang City hopes that many investors from Singapore will invest in Da Nang to help the city achieve its goal of becoming the largest financial center in Vietnam. And the Singaporean investors can enjoy the best incentives from the city to get the best return on their investment from establishing company through foreign direct investment or making investment through M&A with local company. However, it is always important to undertake background check, search the reputation of the local company, local director and have full assessment on the business and financial risks in cooperating with local partners.

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Da Nang- Tangier (Morocco) cooperates in economic field

On April 14th, 2021, representatives of Da Nang city had an online meeting with representatives of Tangier city (Morocco) on the 60th anniversary of the establishment of diplomatic relations between the two countries (1961-2021).

At the meeting, representatives of Da Nang city shared the characteristics, potentials and similarities in the field in the development orientation of two cities, by this meeting, the two cities will continue to promote cooperation in a number of areas such as tourism, transportation, and trade. In addition, Da Nang is implementing the goal of both coping with epidemics, socio-economic development, promoting the image of the city as a safe destination for investors and tourists.

Specifically, in the field of tourism, is is encouraged cooperation between tourism and travel businesses. At the same time, parties are suggested to coordinate to organize tourism product survey teams, to connect tourism of the two cities; promote, advertise and introduce the image of Da Nang to Moroccan citizens.

In the transport sector, Da Nang side hopes that Tangier will support Da Nang in calling for businesses and investors of Tangier to invest in a PPP component (public-private partnership) of Lien Chieu port project to cooperate. Besides, invest in logistics centers according to the approved planning and support investment in marinas, inland water ports.

In the field of trade, the side of Da Nang city proposed the two parties to exchange and provide information on trade fair and prestigious events of the city; information on import and export enterprises; trade policy mechanism, etc. for imported goods to support trade connection, promote goods export – import.

Besides, two cities will support enterprises to research, learn and access each other’s goods market; connect businesses in the raw material supply chain to boost exports of potentially complementary products, coordinate in organizing or assisting enterprises to survey the market, creating conditions for all parties to arrange stalls or send goods for introduction at their local product introduction centers.

Bases on the proposals of Da Nang, the representative of Tangier city shared, Tangier is a locality with infrastructure for tourism and transportation. Tangier wants the two cities to concretize ideas of cooperation to connect tourism. At the same time, to create favorable conditions and optimize strengths to develop fields that both cities are interested in. In addition, the representative of Tangier city hopes that apart from the aforementioned fields, the two cities will be able to cooperate in the fields of technology, environment and sustainable development.

By the meeting, the two parties also expected that in the coming time, with the efforts of cooperation and economic development, investors from Tangier will make investment in Da Nang, to apply for investment certificate, to set up company, in order to make the most of the incentives investment in Da Nang, in order to reap its economic benefits.

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Da Nang to becomes the financial center of Central Vietnam

At the end of 2020, the representative of the Ministry of Planning and Investment proposed to build Da Nang city into a regional financial center with an investment of VND 47,000 billion according to Document 8919/BKHDT-KTĐPLT dated December 31st, 2020 by the Minister of Planning and Investment Nguyen Chi Dung.

Da Nang set the goal to “build a regional administrative center” in attracting and transmitting capital to the economy. In addition, Da Nang also proposes a number of fields that should have policies and incentives to attract set up business in Da Nang, Vietnam in the financial sector, creative startups, human resource training, and attract high-quality human resources.

The People’s Committee of Da Nang city also proposed to develop a project that includes many investment projects in many fields, focusing on the project of the complex of commercial financial centers with entertainment areas, casino and luxury apartment (under the list of key projects to attract investment in the period of 2021 – 2025) to be established and built on a total area of about 8.4 ha on Vo Van Kiet street with an investment of about VND 47,000 billion mobilized by investors.

Da Nang has the goal of building to become one of the major socio-economic centers of the country and Southeast Asia, as a center of entrepreneurship, innovation, tourism, commerce, finance, logistics, high-tech industry, IT, supporting industries to be established. Besides being located in central Vietnam and being a city directly under the Central Government for 24 years, Da Nang is the place that has high-quality human resources in the Central and Central Highlands.

In addition, the Ministry of Planning and Investment stated that “Vietnam has a different time zone from the 21 largest global financial centers. This is a unique and special advantage in attracting idle capital flows during the transaction break from these centers”.

In addition, Da Nang is the city with the largest economic scale in the Central Region, with the highest growth rate and GDP scale in the top of the country, ranking 8/63 provinces city in terms of economic density, ranking 9/63 in budget revenues.

Da Nang is oriented to develop into a modern, smart ecological city, a worthy city to live with the advantage of asynchronous infrastructure system of sea, road, and airway. There is a 3-hour flight distance with dynamic economies such as Bangkok, Malaysia, Singapore, Manila, Taiwan, Guangzhou, and Hong Kong.

Under normal conditions, Da Nang International Airport operates with nearly 500 international flights per week, operated with 25 airlines, connecting to 35 cities of 9 countries and territories; The number of international passengers passing through Da Nang International Airport increased at the fastest speed in the region. It is expected that by 2030, Da Nang international airport will be expanded with a capacity of about 30 million passengers/year.

With the above advantages, Da Nang hopes to soon become the financial center of Central, Vietnam, and Southeast Asia, expecting foreign investors to set up company and obtain investment certificate in Vietnam.

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Da Nang Hi-Tech Park – Investment Attraction in 2021

On February 5th, 2021, Da Nang High-Tech Park and Industrial Zones Authority granted the Investment Registration Certificate to a Japanese corporation to invest in the Research Center project, Development and Production with total investment capital of 35 million USD.

This is a project to carry out scientific research and technology development in the fields of science, engineering and technology for the next generation of robots, unmanned aircraft, Hydro energy equipment, Nano equipment, technology. artificial intelligence (AI), water purification systems, wireless power transmission systems and new material development. The project also researches and develops in the fields of information technology, medical equipment, prototype production (testing), and manufacture of unmanned devices, robots, and medical devices for product commercial purposes and technology after research and development.

From the beginning of 2021 up to now, Da Nang High-Tech Park and Industrial Zones Authority has attracted USD 145 million of foreign direct investment (FDI) capital, increasing the total registered FDI investment capital into the Da Nang hi-tech Park reached USD 536.1 million. Until now, Da Nang Hi-Tech Park has attracted 24 projects, including 12 domestic projects and 12 FDI projects.

In addition, on February 16th, 2021, the Prime Minister agreed to add an industrial zone supporting Da Nang high-tech park with an area of ​​58,531 hectares. This will help the Hi-Tech Park expand the area, helping investors to easily implement the project.

Besides, Da Nang city has a number of policies to attract investment in high-tech zones such as reducing company income tax, land rental, import tax, support to find suitable labor sources, etc. these are great advantage for investors to be able to do business during the investment process.

Currently, Da Nang is attracting investment for science and high-tech projects, so the investment by high-tech investors in Da Nang will be facilitated by the government to supporting investment procedures to set up company, manufacturing facility in Da Nang. With its efforts, Da Nang hopes that Da Nang Hi-Tech Park is expected to become a “Silicon Valley” in the near future.

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Da Nang invests in expanding the Biotechnology Center

August 12, 2020, People’s Committee Office of Da Nang city said that the Chairman of Da Nang City People’s Committee issued Decision No. 2686/QD-UBND approving the project “Expanding and upgrading Danang Biotechnology Center for research and development South Central Region”.

Expanding and upgrading Danang Biotechnology Center into a biotechnology research and development (R&D) center to serve socio-economic development in the South Central region, on the basis of Strong enough material-technical and human resources and a specific operating mechanism ensure the capacity of the hub of all parties: science, technology, enterprises, farmers – forestry farmers – fishermen.

Thereby, the center is able to attract investment to contribute to the development of value chain segments to develop the advantages of the South Central Region (high-tech agriculture, marine biotechnology, medicinal herbs …), take an active part in the conservation and development of biological resources, environmental protection and sustainable development of the sub-region and the country. The investment content includes: building 3-storey biotechnology research and application laboratory; 3-storey probiotic laboratory block; 3-storey general applied research block; experimental pilot workshop cluster; animal test area; greenhouses, net houses; experimental garden; field – experimental forest and procurement of machinery and equipment.

The total capital of the project is 651.7 billion VND, from the central budget, the local budget capital and the socialization capital. The Department of Science and Technology of Da Nang city is an agency assigned to lead, organize and manage the implementation in the period 2020-2030.

Since the end of the 20th century, biotechnology has turned from a science to a high-tech economic and technical branch of many countries around the world. For our country, biotechnology plays an important role in contributing to food security, structural transformation and sustainable development of the industrial and rural economy; providing basic and essential products for public health care; protecting living environment, serving socio-economic development.

Da Nang’s investment in expanding the Biotechnology Center with the goal of implementing the role of a meeting point of science, technology, enterprises and farmers – forestry farmers – fishermen has confirmed the role of biotechnology in the present era as well as showing the development orientation of the economic structure of the city. This is a development opportunity for businesses operating in the biotechnology industry in Da Nang in particular and Vietnam in general, creating momentum for attracting foreign investors to set up company taking advantage of local resources.

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Da Nang and Korea cooperate in investment

On December 3, 2020, the representative of Da Nang city held an online investment promotion conference called “Investing in Da Nang” for Korean investors and businesses. The conference with the participation of more than 100 Korean investors and businesses has helped investors and businesses have a new view in their investment implementation in Da Nang market.

The conference has promoted and introduced the business environment and cooperation opportunities investment in Da Nang in the fields of high technology, information technology, services, and smart city support. Recently, in the context of investment capital inflows from Korea tends to shift to Southeast Asia due to the influence of the Covid-19 epidemic and the US-China trade war, Vietnam is considered to be a country which meet enough political, economic, labor and technological conditions to make the shifting investment in an easy way.

At the conference, representatives of Da Nang city affirmed that foreign investment is one of the important resources for the socio-economic development of the city. For many years, the city has always set the goal of attracting investment as the top target, in addition, the city has actively improved the investment environment, issued many preferential policies and supported foreign investors who invest in the city.

In 2020, despite the impact of the Covid-19 pandemic, there are still many investment projects of Korean investors making investments in Da Nang. Until November 2020, Korea is the country which has the most number of projects in Da Nang with 232 projects, and ranked 4th in terms of capital, with a total registered investment capital of more than 376 million USD, episode medium in the fields of services, real estate, industrial production and information technology.

In the current period, with the selection of a politically stable investment location, high quality labor, reasonable investment costs and good disease control ability, Vietnam is the top destination for Korean investors to set up company, set up factory, and make investment in Vietnam. Currently, many large enterprises in Korea have signed Memorandum of understanding with Da Nang city as the first step of cooperation and investment development in Da Nang in the coming years.

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Vision to develop logistics services in Da Nang

Da Nang, with its favorable geographical location, lies on the arterial North-South traffic axis in terms of road, rail, sea and air, is an important traffic gateway of the Central – Central Highlands and is the end point on the East-West Economic Corridor running through Vietnam – Laos – Myanmar – Thailand, converging types of transport from air, seaport, railway, expressway, especially with deep water ports. Therefore, Da Nang has a great potential to develop into a maritime transport center, an important logistics hub to countries in the region.

In the economic development orientation and in the Politburo’s Resolution No. 43-NQ/TW dated January 24, 2019 on Da Nang construction and development to 2030, a vision to 2045 defines: Danang will focus on exploiting advantages to soon become a marine economic center, forming logistics service supply chains for the Central and Central Highlands.

To comply with the Resolution, currently, in parallel with the expansion of the port, Da Nang is also actively calling for investment in logistics centers. Of which, 20 hectares in Hoa Vang district, 2 hectares in the north of Da Nang airport, 9.1 hectares in the High-Tech Park. At the same time, promote the early operation of highways Da Nang – Quang Ngai, La Son – Tuy Loan… to awaken potentials, promote trade links, connect industrial zones, economic zones in the region, thereby becoming the driving force to promote the city’s logistics services industry.

In addition, Da Nang will build a new Lien Chieu port as a transport port, Tien Sa port will be a tourist port in order to promote the central role of the international seaport city and urban seaport. According to the Department of Planning and Investment of the city, the Lien Chieu port project is currently completing the environmental impact assessment report, submitting for appraisal and approval of the subdivision planning project 1/2,000. City leaders suggested early appraisal of capital sources and capital balancing capabilities, and proposed to allocate central budget capital to support projects. In the next phases, Lien Chieu port will attract investors in logistics items. This is an important premise for Da Nang to promote the role of a key maritime route in the Central region and a logistics center in the region.

With the above orientation, it is expected that in the coming time, the market of transport services and logistics in the city will develop more vibrantly, raising the quality of services not only in the city but in the region. It is hoped that more companies will invest, set up company and apply for investment certificate in Da Nang in the area of logistics and logistics support.

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Da Nang strengthens external relations, promotes investment attraction and international cooperation

On October 30th, 2020, representatives of Da Nang city received the delegation of the Ministry of Foreign Affairs to work, exchange and provide information on the coordination between the Ministry of Foreign Affairs and the city in the implementation of international cooperation program.

Despite being affected by the COVID-19 epidemic, Da Nang still strives to implement important investment promotion activities such as: Economic promotion seminar, tourism, human resources within the framework of the visiting Vietnam and Danang of the Secretary General of the Liberal Democratic Party of Japan (January 11th to 14th, 2020), organized an online investment promotion conference “Danang – Silicon Valley of Southeast Asia”, contribute ideas and develop local implementation plans for free trade agreements that Vietnam has signed such as: Free Trade Agreement between Vietnam and the European Union, on the draft “White Book 2020” at the request of the European Business Association in Vietnam (EuroCham).

Up to now, Da Nang has established friendly and cooperative relations with 45 localities of 20 countries and territories, with 94 Cooperation Agreements were signed. Specific cooperation programs are effectively maintained and implemented, coupled with the promotion of new cooperation programs.

With its convenient location, abundant, high-quality human resources, and many development policies to attract the international investment, in the first 9 months of 2020, the city has attracted USD 140,88 million, of which, there are 66 newly licensed FDI projects with a total registered investment capital of USD 121.78 million, with 9 projects increasing capital with total additional capital is USD 15,038 million. Accumulated to date, Da Nang has 869 FDI projects with a total investment of USD 3.518 billion.

By creating opportunities for international investors in the fields of high technology, environmental protection, tourism services, etc. Danang has all the strengths from nature to people to be the first choice of international investors. Many large investors in the region and the world have chosen Danang as their investment development place when expanding their investment activities in Vietnam, especially when many investors have gradually moved their factory out of China. Danang promises to be a good destination for major investors in the world, to set up factory and company, and help them achieve the favourable benefits when investing in Vietnam.

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Set-up company in Da Nang

Da Nang – one of the strategic economic centers of Vietnam’s central region

The Vietnam prime minister has established central region’s strategic economic center, including 05 provinces and cities: Thua Thien Hue, Da Nang, Quang Nam, Quang Ngai and Binh Dinh to promote potential, geographical location and competitive advantages and step by step develop this economic region to become one of the most dynamic economic region in the country. In particular, Da Nang is defined as the role of nuclear motivation for promoting the development of the central region and the highlands.

Da Nang – eastern gateway of east – west economic corridor (EWEC)

EWEC is one of five economic corridor developed by the initiative of the Asia development bank in the greater Mekong sub – region.

Currently, the road system in Laos, Thailand and the road line from Da Nang to Savannakhet are completed. The second international bridge spanning the Mekong river was completed in the end of 2006 to facilitate the circulation of goods and passengers by road line from Da Nang to the northeastern provinces of Thailand and vice versa. East-west economic corridor not only provide an opportunity for the country on the path of promoting regional cooperation and improve living standards for the people but also enable businesses better access to the raw materials market services, capital, labor and technology with the purpose of creating favorable conditions for investment and trade across the border and diversifying economic activity and exports and promoting tourism development

Da Nang – entrance of the cultural heritage and natural wonders of the world

Da Nang is located in the heart of the “world heritage road”, stretching from the central coast of Vinh city to Da Lat city. From Da Nang, along the national highway 1A, visitors can access quickly and conveniently four of five world heritages in Vietnam, including Phong Nha – Ke Bang national park (about 300 km from the north of Da Nang), the ancient capital of Hue (about 100km from the north), Hoi An (about 30 km from the southeast) and My Son (about 70 km from the southwest).

With the advantage of geographical location and potential economic development in tourism, Da Nang is an ideal destination for tourists as well as investors.

Infrastructure is step by step improved

Da Nang is an important traffic hub of the central – highlands and country with system of international airports, deep sea ports, roads, north-south railways developed conveniently.

Da Nang port is the third largest commercial ports in Vietnam after Saigon port and the port of Hai Phong. With a depth of 11m wharf, warehouse systems and equipment upgraded by capital funds of the government of Japan, Da Nang port can receive ships with a capacity of 45,000 dwt and others such as container ships, passenger ships, cargo ships. Da Nang is the international shipping route enabling to go to Hong Kong, Singapore, Japan, Taiwan and Korea.

Da Nang international airport is one of the three best airports in Vietnam. In addition to domestic flights, there are weekly international flights directly from Da Nang to Singapore, Bangkok, Taipei. In the near future, the airport will open more routes to Hong Kong, Japan and Korea. Da Nang international airport is currently being upgraded and expanded to meet the needs of increasing passengers and cargo.

The system of roads in and out of the city are constantly being expanded and newly constructed

Telecommunication systems: Da Nang is one of three major telecommunication centers of the country, international transmission speed with good quality of Southeast Asia. Da Nang post provides various and modern telecommunication services and be capable meeting the needs of customers.

The other services supporting investment (financial, banking, insurance …): most banks and finance companies of Vietnam have large branches in Da Nang. Some branches of foreign banks and international insurance companies are operating effectively in the city. These services have increasingly been improved better to meet the needs of investors.

Trained and abundant human resources

Da Nang has abundant human resources (over 50% of the population of the city), mostly young labor. Number of employees with technical expertise trained account nearly a quarter of the labor force. Labor costs in Da Nang are lower than some other cities in the country.

Da Nang is one of the provinces in the country with the high educational development index which create a favorable platform for the development of human resources of the city to perform the goal of improving the quality of human resources, quality of life. The city has about 14 universities, 15 colleges and professional schools with nearly 140,000 students. This system performs training in most areas of science, engineering, information technology, economics, business administration, language and pedagogy… Danang university also cooperates with universities of countries with an advanced education such as France, US, Japan, Australia, Canada, New Zealand …

Software technology center in Da Nang is one of the leading software producers in Vietnam and is the leading training center of the central region. Over the years, the software technology center has cooperated closely with companies of India (aptech) and Japan (aots) to train programmers, technicians and engineers reaching the international standard. Many IT company has chosen Da Nang to set up company in da nang to hold their talents for international projects.

In addition, the city also has about 55 vocational training centers which often provide short-term training courses in computer science, sewing, mechanics, electricity – electronics, construction techniques, etc …

Quality of life

Along with the process of urbanization, economic growth in recent years has helped to material life and spirit of the people of Da Nang continuously improved.

Unlike other large cities in Vietnam, next to the bustle of urban development, living in Da Nang always bring a sense of peace, comfort and closeness to nature. Da Nang is one of the very few cities in Vietnam having a harmonious combination between high mountains, deep forests, long beach, deep river. After work, you can easily find space to relax beside the river or on beautiful beaches.

Da Nang today is a city with a healthy cultural environment, with urban civilized lifestyle, literacy levels elevated, beautiful natural scenery. It can be said that Da Nang is an exciting place to live, work, travel and invest in Vietnam.

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Mikazuki Group Wants to Build A Night Market and A Japanese Pedestrian Street in Da Nang

On July 15th 2019, representative of Mikazuki Group (Japan) had a meeting with Da Nang City People’s Committee on the investment plan of night market and pedestrian street, similar to Tokyo night street.

Accordingly, Mikazuki Group’s leaders continue to affirm and commit to complete the construction of the onsen hot mineral water park at the Mikazuki Spa & Hotel tourist project in April 2020 and complete the whole project in 2021.

Besides, General Director of Mikazuki Group (Japan) expressed his desire to invest 50 million USD to build night market and pedestrian street next to Mikazuki Spa & Hotel project (Hoa Hiep Nam ward, Lien Chieu district).

The group also proposed the city to soon complete the conversion of the purpose of using the area of 5,000m2 of the land into commercial land – services as well as implementing the project related parts.

Vice Chairman of Da Nang City People’s Committee welcomed Mikazuki Group to study and invest an additional of 50 million USD to build night market and walking street next to the Mikazuki Spa & Hotel tourist area. Regarding the proposals of the group, the City People’s Committee pledged to direct the Department of Natural Resources and Environment to actively accelerate the conversion of land use purpose for 5,000m2 to soon complete the project.

For the roads around the project, the City People’s Committee will work with the project operating units and Lien Chieu District People’s Committee to speed up the implementation, striving to complete soon; assigned Construction Department, Institute of Construction Planning, Department of Transport and People’s Committee of Lien Chieu District to study and renovate the landscape of roads around the tourist area.

Earlier, in March 2019, Mikazuki Group organized a groundbreaking ceremony for the Mikazuki Spa and Hotel Resort project in Japanese style at Xuan Thieu beach. The 5-star project Mikazuki Spa & Hotel Resort (Xuan Thieu Tourist Area) with a total investment capital of 100 million USD, total area of about 13 ha, located on Xuan Thieu beach (Hoa Hiep Nam ward, Lien Chieu district).

The project is designed by Raymond Vietnam – Japan Architecture Design Company Limited with a scale of 5-star standard hotels, 19-storey high, construction density of 25%, including 464 accommodation rooms, amusement parks, resort serving about 6,000 guests/day and restaurant area, conference, water park, food court, car park…

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Establishing Distribution Company In Danang

Da Nang is a city in the Central of Vietnam, with the advantage of being a trading place of many countries in the world. Danang has a large seaport in the top 10 large seaports of Vietnam, facilitating trading activities with many countries around the world.

At the present, Da Nang is promoting foreign investment into Da Nang, and many investors have chosen Da Nang to do business in the distribution business line. For this business line, Vietnam has committed to open up to attract 100% foreign investment. As committed, foreign-invested companies in the distribution sector will be allowed to provide commission agents, wholesalers and retailers of all products manufactured in Vietnam and legally imported products into Vietnam. Therefore, the investors can import or produce goods, then they distribute the goods in accordance with regulations.

In addition, with the increasing in the number of tourists coming to Da Nang in recent years, the demand for consumer products, fashion and other items for tourists has increased. This triggers demand that many companies to provide essential goods for tourists, and this is a great investment opportunity for investors both domestically and abroad. The investors could explore this opportunity to set up company in Da Nang and fill the market’s demand.

In addition, with many policies to support enterprises in administrative procedures, as well as management, investors can easily carry out procedures as well as manage and control their business better. Enterprises investing in Da Nang are now very satisfied with the way public services are handled in the city’s administrative procedures, therefore more and more investors are choosing Da Nang as a destination for investment when targeting in Vietnam.

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Da Nang Calls for Investment in 60 Projects in 2019

After the Lunar New Year, Da Nang began to implement the investment promotion of 60 investment projects, focusing mainly on high-tech, urban and tourist areas real estate, attracting foreign investors to come and invest in Danang.

Da Nang City People’s Committee has just approved the program to attract investment in 2019. Accordingly, after the Lunar New Year, the city began to attract investment in 44 projects with the capital from 30,000 USD to 400 million USD, mainly in the fields of high technology and real estate in urban areas and resorts; and at the same time promoting new investment negotiations for 16 other projects. Among the 44 projects calling for investment, half of them are in information technology and high technology, mainly locating in Da Nang High-Tech Park and the Information Technology Zone. In particular, the city wants to call for investment in a solar power plant with a capital of 150 million USD to 400 million USD and production of semiconductor materials to manufacture specialized circuits and specialized electronic components with a total investment of 200 million USD. In addition, the city will conduct negotiations to promote projects that have been delayed without being able to grant investment licenses for various reasons such as the 52ha wide Software Park project.

According to the program, the city will prioritize attracting FDI capital into industries that seek to advance the industrial revolution 4.0 such as digital, nano-technology, bio-industry, new materials… and the agricultural sector also attracts projects with high technology application, rejecting projects with outdated technology and destroying the environment. Therefore, the city has a policy of focusing on approaching and inviting multinational investors, mainly from Japan, Korea, USA, Australia and Europe.

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Da Nang Calling for Investment in 7 Strategic Projects

In the international conference “Investing in Sustainable Urbanization” organized by Danang People’s Committee in collaboration with the regional network of local authorities on human capital management (CityNet), Da Nang has called for investment in 7 strategic projects.

At the workshop, Danang People’s Committee announced the list of 7 projects calling for investment in the form of PPP (public-private partnership): Lien Chieu port; solid waste treatment complex; new railway station and integrated urban area; infrastructure development and technology for non-motorized transport solutions; Da Nang – Hoi An metro; smart city construction and industrial park construction projects.

In particular, the project of Lien Chieu port is calling for investment with the aim of becoming the main wharf of the international gateway to the Central region, accommodating ships up to 100,000 tons. The relocation and construction of Da Nang Railway Station calls for investors to pay attention and implement the project in the form of PPP, which might be through BOT contract.

Da Nang Integrated Urban Renovation Project has a total budget of more than 345 million USD (over 7,900 billion VND). Project on development of vehicles and application of smart traffic management system in the form of ODA or PPP with a total capital of about 3.300 billion VND. The project to build metro connecting Da Nang with Hoi An city (Quang Nam) with a length of 33 km, along the coastal road, this project needs funding from 7,000 to 14,000 billion VND.

According to the Vice Chairman of Danang People’s Committee, sustainable urban development is one of the priorities of the city. Da Nang has set the orientation and guidelines for sustainable development. Since 2014, the city has approved a smarter city plan with priority areas of transportation, water supply, sewerage, food safety and building better city connections. Hence, Da Nang calling for investment in 7 key projects to address sustainable issues related to transport, urban.

Mr Vijay Jagannathan, Secretary General, of CityNet said that the workshop “Investing in Sustainable Urbanization” in Da Nang is seeking financial investment in urban infrastructure in a sustainable manner, overall and resistant to climate change. He also emphasized that infrastructure is a major challenge for urbanization as demand grows. Urban communities depend largely on effective urban planning as well as access to affordable public services.

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Singapore Leads in Investment in Danang

Singapore is a reliable partner and a familiar investor for the Vietnamese market. Singaporean investors poured capital to invest in Vietnam, specifically Danang city.

According to Danang People’s Committee, since the beginning of 2018, the city has granted 27 new FDI projects with a total registered capital of 7.29 million USD, reach 97% over the same period in 2017.

Up to now, there have been 6 foreign investors registered to buy shares and contribute capital to economic organizations with a total registered capital of 12.98 million USD.

Total investment capital in the first quarter of 2018, the city attracted 33 million USD, increase by 128% over the same period in 2017. Accumulated until now, Da Nang has 577 FDI projects, total investment capital of 3.062 billion USD.

According to the Danang People’s Committee, currently the city has 5 projects using ODA capital managed by the city and being implemented with total investment capital of about 390 million USD, in which ODA capital is 314 million USD, accounting for 80% of total capital.

In addition, currently the city has 5 projects in the official promotion stage, requesting the Ministry of Planning and Investment to consider and mobilize donors.

It is known that Singapore is the leading investor in Da Nang with a total registered capital of 717.87 million USD (accounting for 23.44%); the second is Japan with total investment capital of over 647.26 million USD (accounting for 21.13%); the third is the US with total investment capital of 519.04 million USD (accounting for 16.95%) and the fourth is Korea with 256.17 million USD (accounting for 8.36%).

Danang leaders said that they are preparing investment in Cam Le and Hoa Nhon industrial clusters. In addition, they are regularly monitoring the investment procedures for industrial clusters in the area to remove difficulties and obstacles in the process of site clearance.

According to Da Nang People’s Committee, the city has 317 domestic investment projects with total investment capital of 89,670 billion VND.

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Da Nang promotes the development of Science and Technology

According to a report by the Ministry of Science and Technology, in 2019, the Science and Technology industry has achieved GDP growth of 46.11% and the labor productivity growth rate of 6.2%, these are achievements of Science and Technology of Vietnam in 2019. To continue the development of Science and Technology, Da Nang has set a goal of developing science and technology, focusing on the goal of improving the capacity of innovation by attracted the domestic and foreign investors to set up company in this fields in Da Nang.

In recent years, with efforts in Science and Technology development, Vietnam has achieved certain achievements in the fight against epidemics and bringing the economy back to stability. At the same time, Science and Technology achievements have been flexibly applied, promoting the basis of the digitized Vietnamese knowledge system in developing epidemic maps using Vmap, detecting people at risk of infection at tourist destinations, construction of medical declaration software. In the meantime, Vietnam has been effectively mobilizing science and technology representative networks in countries to connect research groups, exchange and test equipment, technologies and products for prevention and control of epidemic; promote public-private cooperation in conducting research tasks.

In addition, according to the content of Resolution No. 50/NQ-CP dated April 17, 2020 on the Government’s action plan to implement Resolution No. 52-NQ/TW dated September 27, 2019 of the Politburo on number of guidelines and policies actively participated in the Fourth Industrial Revolution, the Prime Minister has issued the policies to improve national innovation capacity.

In particular, the Prime Minister requested the Ministry of Science and Technology to conduct research, review and propose a comprehensive restructuring plan for the system of public scientific and technological research facilities. Building and developing national innovation centers, focusing on the key technologies of the Fourth Industrial Revolution. Developing a national innovation system in the direction of being enterprise is the centered, higher education institutions and research institutes as strong research subjects. At the same time, assume the prime responsibility for, and coordinate with units in joint research and development, propose special and breakthrough mechanisms and policies for the construction and operation of innovation centers. Beside, Vietnam has encouraged domestic and foreign universities, businesses and organizations to set up innovation centers in Vietnam.

In Da Nang City, the Department of Science and Technology issued Plan No. 28-KH/SKHCN dated May 12, 2020, focusing on the content of improving the capacity of innovation.

In the coming time, the city Department of Science and Technology will deploy 23 contents on the topic of innovation. In which, 03 contents are implemented in the period of 2020 to 2025 and 16 contents are implemented annually.

In the period of 2020 to 2025, the Department will coordinate with the Ministry of Science and Technology to promote the development of national creative start-up ecosystem to strongly develop startups in the city.

In addition, the Department will advise the implementation of the Projects to build Da Nang into a national innovation and innovation start-up center in the Central region and Highlands of Vietnam. In particular, in the immediate future, the city will focus on building and deploying activities of innovation centers, focusing on the core technologies of the Fourth Technology Revolution. The City People’s Committee issued a plan to implement the City’s Program on “Developing high-tech industry, building Da Nang into a national-level startup, innovation and innovation center, as an urban area in creativity – science – technology of the global and highly competitive”, and plan to implement the Project” Supporting national innovation start-up ecosystem to 2025″ in the Da Nang city.

With the efforts of Science and Technology development with the city’s FDI attraction goals, Da Nang hopes that it will become a destination for Science and Technology investors to set up company doing business in Vietnam.

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Da Nang to becomes the financial center of Central Vietnam

At the end of 2020, the representative of the Ministry of Planning and Investment proposed to build Da Nang city into a regional financial center with an investment of VND 47,000 billion according to Document 8919/BKHDT-KTĐPLT dated December 31st, 2020 by the Minister of Planning and Investment Nguyen Chi Dung.

Da Nang set the goal to “build a regional administrative center” in attracting and transmitting capital to the economy. In addition, Da Nang also proposes a number of fields that should have policies and incentives to attract set up business in Da Nang, Vietnam in the financial sector, creative startups, human resource training, and attract high-quality human resources.

The People’s Committee of Da Nang city also proposed to develop a project that includes many investment projects in many fields, focusing on the project of the complex of commercial financial centers with entertainment areas, casino and luxury apartment (under the list of key projects to attract investment in the period of 2021 – 2025) to be established and built on a total area of about 8.4 ha on Vo Van Kiet street with an investment of about VND 47,000 billion mobilized by investors.

Da Nang has the goal of building to become one of the major socio-economic centers of the country and Southeast Asia, as a center of entrepreneurship, innovation, tourism, commerce, finance, logistics, high-tech industry, IT, supporting industries to be established. Besides being located in central Vietnam and being a city directly under the Central Government for 24 years, Da Nang is the place that has high-quality human resources in the Central and Central Highlands.

In addition, the Ministry of Planning and Investment stated that “Vietnam has a different time zone from the 21 largest global financial centers. This is a unique and special advantage in attracting idle capital flows during the transaction break from these centers”.

In addition, Da Nang is the city with the largest economic scale in the Central Region, with the highest growth rate and GDP scale in the top of the country, ranking 8/63 provinces city in terms of economic density, ranking 9/63 in budget revenues.

Da Nang is oriented to develop into a modern, smart ecological city, a worthy city to live with the advantage of asynchronous infrastructure system of sea, road, and airway. There is a 3-hour flight distance with dynamic economies such as Bangkok, Malaysia, Singapore, Manila, Taiwan, Guangzhou, and Hong Kong.

Under normal conditions, Da Nang International Airport operates with nearly 500 international flights per week, operated with 25 airlines, connecting to 35 cities of 9 countries and territories; The number of international passengers passing through Da Nang International Airport increased at the fastest speed in the region. It is expected that by 2030, Da Nang international airport will be expanded with a capacity of about 30 million passengers/year.

With the above advantages, Da Nang hopes to soon become the financial center of Central, Vietnam, and Southeast Asia, expecting foreign investors to set up company and obtain investment certificate in Vietnam.

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Da Nang- Tangier (Morocco) cooperates in economic field

On April 14th, 2021, representatives of Da Nang city had an online meeting with representatives of Tangier city (Morocco) on the 60th anniversary of the establishment of diplomatic relations between the two countries (1961-2021).

At the meeting, representatives of Da Nang city shared the characteristics, potentials and similarities in the field in the development orientation of two cities, by this meeting, the two cities will continue to promote cooperation in a number of areas such as tourism, transportation, and trade. In addition, Da Nang is implementing the goal of both coping with epidemics, socio-economic development, promoting the image of the city as a safe destination for investors and tourists.

Specifically, in the field of tourism, is is encouraged cooperation between tourism and travel business. At the same time, parties are suggested to coordinate to organize tourism product survey teams, to connect tourism of the two cities; promote, advertise and introduce the image of Da Nang to Moroccan citizens.

In the transport sector, Da Nang side hopes that Tangier will support Da Nang in calling for businesses and investors of Tangier to invest in a PPP component (public-private partnership) of Lien Chieu port project to cooperate. Besides, invest in logistics centers according to the approved planning and support investment in marinas, inland water ports.

In the field of trade, the side of Da Nang city proposed the two parties to exchange and provide information on trade fair and prestigious events of the city; information on import and export enterprises; trade policy mechanism, etc. for imported goods to support trade connection, promote goods export – import.

Besides, two cities will support enterprises to research, learn and access each other’s goods market; connect businesses in the raw material supply chain to boost exports of potentially complementary products, coordinate in organizing or assisting enterprises to survey the market, creating conditions for all parties to arrange stalls or send goods for introduction at their local product introduction centers.

Bases on the proposals of Da Nang, the representative of Tangier city shared, Tangier is a locality with infrastructure for tourism and transportation. Tangier wants the two cities to concretize ideas of cooperation to connect tourism. At the same time, to create favorable conditions and optimize strengths to develop fields that both cities are interested in. In addition, the representative of Tangier city hopes that apart from the aforementioned fields, the two cities will be able to cooperate in the fields of technology, environment and sustainable development.

By the meeting, the two parties also expected that in the coming time, with the efforts of cooperation and economic development, investors from Tangier will make investment in Da Nang, to apply for investment certificate, to set up company, in order to make the most of the incentives investment in Da Nang, in order to reap its economic benefits.

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Da Nang – Singapore To Cooperate for Development

On May 12th, 2021, the representative of Da Nang city had a webinar with representatives of Ho Chi Minh City and Singapore on economic development, which the seminar was attended by nearly 200 companies from different industry whom are potential investors from Singapore, interested in setting up company in Vietnam.

During the seminar, the representative of Da Nang city introduced the investment and business environment, and preferential policies and investment opportunities of Da Nang city in the fields of high technology, information technology, high-quality services (health, education, logistics). The seminar received the sharing of experience when investing in Da Nang as well as the support of the city government from one of the largest Singaporean investors in Da Nang, and financial solutions when investing in Vietnam from some Singapore experts.

The representative from Singapore Business Federation highly appreciated the potential of the city’s business investment environment and proposed Da Nang city to establish the Da Nang Information Center (Da Nang Desk) located at the Vietnam Connection Center at the Singapore Manufacturing Federation (SMF) to connect Da Nang with Singapore companies.

Da Nang City is inviting Singaporean investors and businesses with financial and technological capabilities to learn about the business investment environment and cooperation opportunities in the city. The representative of Da Nang City highly appreciated the proposal to set up Da Nang Information Center in Singapore and assigned the Investment Promotion and Support Committee to propose a model, serving as a bridge to support the environment and business investment opportunities of Da Nang to Singaporean enterprises in particular and international in general; thereby further promoting the investment cooperation relationship between Da Nang and Singapore in the coming time.

Singapore is one of Vietnam’s most important trade and investment partners. In 2020, despite being affected by Covid-19, Singapore invested in 248 projects in Vietnam with a total capital of nearly 9 billion USD, making it the leading country in foreign investment in Vietnam. Accumulated to the end of 2020, Singapore is the 3rd largest foreign direct investor in Vietnam after Korea and Japan with a total of 2,629 projects and a total registered capital of more than 56.5 billion USD. In 2020, the total two-way turnover between Vietnam and Singapore reach over 6.7 billion USD, of which the export value of Vietnam’s goods will reach 3 billion USD and the import value will reach USD 3.7 billion.

Singapore is one of the key markets for investment attraction of Da Nang, currently the city has 28 Singapore FDI projects with a total registered capital of more than 838.4 million USD, ranking 2nd in the list of more than 50 countries and regions, territory, accounting for about 22% of total registered investment capital.

Da Nang City hopes that many investors from Singapore will invest in Da Nang to help the city achieve its goal of becoming the largest financial center in Vietnam. And the Singaporean investors can enjoy the best incentives from the city to get the best return on their investment from establishing company through foreign direct investment or making investment through M&A with local company. However, it is always important to undertake background check, search the reputation of the local company, local director and have full assessment on the business and financial risks in cooperating with local partners.

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