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Japan lists Da Nang as a city worth investing in |
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Date: Monday, 11 August 2008
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The central city of Da Nang has been listed on the Japan External Trade Organization (JETRO)'s survey comparing investment costs in major Asian cities and regions, according to the city's representative office in Tokyo.
Da Nang was the third urban centre listed in Viet Nam, after Ha Noi and
HCM City, on the comparison board which included 30 major Asian cities.
The
city has emerged as an attractive investment destination for Japanese
businesses and has so far attracted US$250 million from 29 Japanese
businesses thanks to its improved infrastructure, large seaport and
international airport, as well as low costs of office rental and
accommodation for foreign investors. However, JETRO said that
transportation costs from the city's Tien Sa port to Japan's Yokohama
port were still high compared to other ports in Viet Nam.
The
city's representative office in Japan has joined hands with Japanese
businesses to carry out studies on investment, supporting industries
and hi-tech industrial zones in the area.
Money rolls in
Da
Nang has granted licenses to 23 new projects worth a total $986.5
million during the first eight months of this year, according to the
city's Investment Promotion Centre.
Of the total, 18 were
foreign-invested worth $614 million, up 15 percent year-on-year, the
centre said, adding that the British Virgin Islands were the city's
number one foreign investors with two projects valued at $330 million.
From
January to August, the city also approved three new projects,
increasing their level of capital by $33.2 million. The city's
investment promotion centre said that it plans to intensify promotion
of certain industries, especially hi-tech and services such as real
estates, tourism, health, education, logistics, transport, and
finance-banking.
Investment promotion activities will be closely
connected with trade and tourism promotion activities of the city and
central region and national investment promotion activities.
Da
Nang plans to organize investment promotion workshops overseas to
attract investment in auxiliary industries and hi-tech industries in
Japan; seaport, logistical and financial-banking services in Singapore
and Hong Kong; and hi-tech industries and services including health,
education and distribution in the US.
The city wants to
advertise its investment environment via improved training for its
officers in investment promotion, project preparation and evaluation,
event organization, international relations and foreign languages.
Da
Nang has issued a list of 78 projects calling for foreign direct
investment in the next three years, according to the city's Department
of Planning and Investment.
Source: Vietnam News
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