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Da Nang city prioritises high technology projects

VNA/VOV

The central city of Da Nang will continue to prioritise investment projects with advanced technologies and high added value in the future, said Huynh Lien Phuong, Director of the municipal Investment Promotion and Support Board.

Illustrative image (Source: VNA)

Phuong said that the city will associate investment attraction with startup activities, innovation, application of high technologies and development of an digital economy, while strengthening connectivity between domestic and foreign investors, and optimising regional linkages.

She noted that by the end of March 2019, Da Nang has hosted 715 valid FDI projects with total investment of over USD 3.35 billion, including seven projects in the Hi-Tech Park with combined capital of USD 228.96 million.

The processing-manufacturing industry has been the most attractive sector of the city, luring about USD 1.44 billion, accounting for 43.13% of the total investment, followed by real estate-tourism with about USD 1.23 billion, and education-training with about USD 174 million.

Leading investors in the city include Japan with USD 868.29 million, Singapore with USD 650.7 million, the US with USD 764.3 million, and the Republic of Korea with USD 310.4 million.

In the first quarter of this year, Da Nang licenced 32 new projects worth USD 355.8 million, along with USD 114.2 million added to existing projects, said Phuong.

Phuong attributed the results to the city’s endeavours to choose suitable projects in prioritized sectors, thus enhancing the quality of FDI flow.

Meanwhile, Da Nang has worked hard on administrative reform. The city led the country in provincial competitiveness index (PCI) in four consecutive years from 2013 to 2016, and ranked second in 2017.

Da Nang topped the country in public administrative reform index from 2012 to 2016, and came fourth in 2017, while maintaining its top position in ICT development index in 10 consecutive years.

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