Da Nang develops diversified solutions to attract hi-tech investment

12-Sep-2019 Intellasia | DNO | 6:02 AM Print This Post

The central coastal city of Da Nang has made great efforts to diversify its solutions to attract investment in local hi-tech businesses.

The Da Nang Hi-Tech Park was established in 2010, covering an area of 1,128 ha in Hoa Lien and Hoa Ninh communes, Hoa Vang district. In recent years, Da Nang has focused on investing in technical infrastructure for the hi-tech park, while developing preferential policies to attract businesses specialised in producing and providing hi-tech services, research, incubation and hi-tech applications. However, businesses have suggested that it is necessary to have “satellite” industrial parks to create a local hi-tech development ecosystem.

Vice Chair of Da Nang Municipal People’s Committee cum Chair of the Management Board of Da Nang Hi-Tech Park and Industrial Zones, Ho Ky Minh, said that currently, Da Nang Hi-Tech Park has nearly 400 ha of clean land, with sufficient technical infrastructure ready to serve investors. The Management Board has issued investment registration certificates for eight foreign-invested projects with a total investment of $258 million and other nine domestic investment projects with a total capital of over VND5.2 trillion. There are currently four factories starting operation, while other projects are in the investment deploying process.

The positive results mentioned above, according to Head of the Da Nang Municipal Department of Planning and Investment, Tran Phuoc Son, were sourced from the city’s preparation in advance for investment in Da Nang Hi-Tech Park’s infrastructure development. In addition, the Ministry of Planning and Investment has prioritised its allocation from the State budget to implementing the project, thus facilitating the promotion and attraction of investment projects in the zone.

Recently, at the “Da Nang Business Roundtable” held in Silicon Valley in USA, leaders of Da Nang People’s Committee and the relevant delegates witnessed the signing of three memorandums of understanding on investment in Da Nang in hi-tech and information technology fields. In particular, the Management Board of Da Nang Hi-Tech Park and Industrial Zones and Ai20X Silicon Valley (USA) signed a memorandum of understanding on the construction and development of the Da Nang Hi-Tech Park.

However, some investors said that the city should re-arrange industrial parks and clusters be closer to the Da Nang Hi-Tech Park in order to facilitate auxiliary production enterprises. In fact, hi-tech manufacturing enterprises, especially those which are large-scale, and need many different parts to form their products, while also need a lot of accompanying suppliers. These suppliers need to locate their production facilities nearby or within 30 minutes travelling by trucks to ensure continuous and quick supply.

Meanwhile, several suppliers have not yet met the criteria to be recognised as hi-tech auxiliary manufacturing enterprises as prescribed. These raise concerns, since the arrangement of industrial parks near the Da Nang Hi-Tech Park is necessary to provide adequate production space for suppliers. In addition, it is crucial to consider the increase in land rent rates, and appropriate adjustment coefficients, and issue them swiftly to aid investors in their project implementation.

Le Tri Hai, vice Chair of the Da Nang Young Entrepreneurs’ Association, suggested that State management agencies should pay attention to the quality of FDI investors instead of quantity, while further promoting investment in priority areas, such as hi-tech, environmentally friendly technology, clean and renewable energy, medical equipment manufacturing, high quality healthcare, tourism, financial services, logistics and other modern services especially new industries based on Industry 4.0. In order to improve the investment environment and enhance investment attraction, Da Nang needs to accelerate investment procedures, develop environmental impact assessment, and issue investment guidelines, investment certificates and procedures on granting building permits.

Vice Chair of Da Nang Municipal People’s Committee, Ho Ky Minh, said that to continue attracting investment, the city will deploy a number of key projects, including an overall development plan for Da Nang Hi-Tech Park by 2030, facilitating one-stop shop model for the preparation, licencing and management of investment projects outside industrial parks and hi-tech zones in Da Nang, facilitating a plan to boost the development of Da Nang’s enterprises by 2020, and promoting the improvement of hi-tech innovative features and hi-tech startups. At the same time, the city also focuses on promoting activities and events which effectively approach strategic investors in key markets, such as Japan, the Republic of Korea, Singapore, USA and the Europe.

Da Nang will also continue to enhance administrative reforms and improve the administration capacity of its government to improve the city’s Provincial Competitiveness Index (PCI), in order to create an open, transparent and attractive business environment which appeals to investors. It will research and deploy software for managing investment projects that connects all the local departments, agencies and sectors, while also promoting the application of information technology in providing online public services related to investment procedure.

https://en.nhandan.com.vn/business/item/7903102-da-nang-develops-diversified-solutions-to-attract-hi-tech-investment.html

 


Category: Economy, Vietnam

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