(VOVWORLD) - Since the beginning of 2021, Da Nang has been granting investment licences and giving in-principle approval to domestic and foreign investment projects. Da Nang aims to restore growth and promote economic development this year. It has committed to reforming administrative procedures and making it easier for investors to access land and business opportunities.
 Da Nang grants investment licenses to six investment projects in local high-tech and industrial parks |
Da Nang city has granted investment licenses to six investment projects with a total registered capital of more than 280 million USD in local high-tech and industrial parks, including three foreign-invested FDI projects funded by Japanese and US investors.
Since 2016 the city has attracted more than 530 foreign investment projects with a total capital of 1 billion USD. To date it has 892 FDI projects worth nearly 3.9 billion USD.
Since the beginning of this year, Da Nang has granted new establishment certificates to 487 businesses and representative offices with a total registered capital of nearly 210 million USD, up 50% from last year.
Le Minh Phuc, Director General of Nam Phat Villas and Hotel Company, a foreign owned company which has invested in a 100 million USD project in Da Nang, said, “The authorities of the municipal People's Committee, departments, and agencies have provided the biggest support for companies in removing obstacles to their projects.”
He says he hopes “in the future more support will be given so that we can accelerate investment and the project can be completed by mid-2022.”
To provide more support for businesses, earlier this year, the local administration simplified administrative procedures, shortening the time for project assessment and approval from 15 days to 5 to 7 working days.
Tran Thi Thanh Tam, Director of the municipal Department of Planning and Investment, said her department will continue to promote administrative reform to create a more open, transparent, and competitive business investment environment.
“The municipal Department of Planning and Investment will continue to work closely with other departments and agencies to ensure the attraction of new investment projects in line with the city’s environment friendly orientation,” said Tam.
According to Tam, “We’ll advise the city administration to organize meetings and forums to examine investors’ obstacles and devise reforms that create a healthy, open investment environment for Da Nang.”
Since 2019, Da Nang has been revising and promulgating policies to support and attract investment and simplifying administrative procedures related to investment, land planning, and environment.
 Da Nang has prepared land for investors in the city. |
As a result, Da Nang’s Provincial Competitiveness Index (PCI), Provincial Governance and Public Administration Performance Index (PAPI), Provincial Public Administration Reform Index (PAR INDEX), and its readiness index rankings for the development and application of information and communications technology (Vietnam ICT Index) are always near the top nationally.
To continue attracting investment, Da Nang has implemented 6 groups of solutions for setting policies, land use planning, and improving regulations on the auction of land use rights.
It has prepared land for infrastructure works in industrial zones and clusters and publicized the land list to call for investment. Projects which are using land ineffectively will be shut down.
 Nguyen Van Quang, Secretary of Da Nang’s Party Committee |
Nguyen Van Quang, Secretary of Da Nang’s Party Committee, said, “We are committed to improving the living and working environment, including transportation, healthcare, production, and trading conditions for investors.”
“We have proposed to the central Government a number of specific mechanisms for implementing the National Assembly’s resolution on developing advantages for Da Nang and investors,” Quang added.
Between now and 2025, Da Nang plans to attract investment in a recently revised list of 57 key projects.