The plan was revealed by ASCO Industries CEO Jerome Morhet at a meeting with Danang People’s Committee Chairman Nguyen Manh Hung last Thursday in Brussels.

The talks took place on the sidelines of a high-level meeting between Vietnamese officials and leading European businesses to discuss investment cooperation and the development of the city’s aerospace industry.

ASCO Industries specializes in manufacturing high-precision structures and components for the aircraft manufacturing industry.

Under an agreement signed in July 2026 between ASCO Industries and the Danang-Tech Park and Industrial Zones Authority (DSEZA), the Belgium company plans to build a 6,000-square-meter aircraft components factory with an initial investment of $20 million. The investment could increase to $100 million in the future.

Morhet is scheduled to meet DSEZA officials in early December 2026 to advance the factory development plan. The facility is expected to begin operations in 2027.

City officials outlined Danang's advantages and strategy for developing high-tech industries, emphasizing the attraction of projects with advanced technology, high added value, and the potential to integrate into global supply chains.

Hung asked DSEZA to engage with ASCO to implement the discussions and cooperation agreement, and to report the results to the city mayor before November 15, 2026.

In the first nine months of 2026, Danang attracted $681.55 million in foreign investment, including $522.2 million in newly-registered capital across 100 projects, according to the municipal government.

By far, the coastal city has had 1,162 foreign-invested projects with total registered capital of $11.28 billion.