The northern province of Vinh Phuc has exerted various efforts towards international integration, attracting many foreign investors with high technology and helping to boost its socio-economic development.
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 3.35 billion USD, including seven projects in the Hi-Tech Park with combined capital of 228.96 million USD.
The processing-manufacturing industry has been the most attractive sector of the city, luring about 1.44 billion USD, accounting for 43.13 percent of the total investment, followed by real estate-tourism with about 1.23 billion USD, and education-training with about 174 million USD.
Leading investors in the city include Japan with 868.29 million USD, Singapore with 650.7 million USD, the US with 764.3 million USD, and the Republic of Korea with 310.4 million USD.
In the first quarter of this year, Da Nang licenced 32 new projects worth 355.8 million USD, along with 114.2 million USD 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.
