Danang to call on investment in hi-tech, real estate after Tet

12-Feb-2019 Intellasia | The Saigon Times | 6:00 AM Print This Post

The central coastal city of Danang plans to call for investment in 44 projects mostly in the fields of hi-tech and real estate after the Tet holiday, with each of them needing $30,000 to $400 million, according to a representative of the Danang Investment Promotion Agency.

Half of the 44 projects are in the information-technology and hi-tech sectors and will be executed in Danang Hi-Tech Park.

The city is seeking investors for a solar energy project which needs $150 million to $400 million, and a $200 million project to manufacture semiconductor materials for electronic parts and circuits. A 60-hectare urban area project and Truoc Dong Lake ecological zone covering 100 hectares of land are also in need of investment capital.

Apart from that, the city plans to resume work on the delayed projects that have yet to be licensed for investment, including a No.2 software park project covering over 50 hectares. Singapore’s firm Sembcorp proposed injecting over $90 million into the project long ago, but it has been awaiting word from the ministries of Foreign Affairs, Public Security, and National Defense as it is located in a maritime boundary area.

Meanwhile, Matrix Holdings Limited from Hong Kong wants to build a racetrack and horse training and multiplication centre in the city, with total capital of $200 million. An appropriate site is still being sought for it.

Further, Danang will prioritise foreign direct investment in digital, biotechnology, hi-tech agricultural projects, meaning that projects that apply outdated technologies and harm the environment will not be accepted. Investors from Japan, South Korea and Europe are preferred.



Category: Economy, Vietnam

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