Businesses rate Da Nang as an attractive and reliable investment destination.

Businesses rate Da Nang as an attractive and reliable investment destination.

In 2024, Da Nang City attracted 71 new foreign investment projects with a total registered capital of more than 233 million USD; 19 domestic investment projects with a total registered capital of more than 73,000 billion VND.

Mr. Tran Van Vu, Director of the Department of Statistics of Da Nang City shared at the press conference.

At the press conference announcing socio -economic statistics for 2024, Mr. Tran Van Vu, Director of the Department of Statistics of Da Nang City, said that in 2024, the City successfully organized many large-scale events, the tourism sector continued to promote its strengths; the industrial and construction sectors recovered positively.

“The city is considered an attractive and reliable investment destination by the domestic and foreign business community,” said Mr. Vu.

Specifically, as of December 25, 2024, Da Nang City attracted 243.4 million USD of newly registered and increased foreign direct investment (FDI), up 33.2% compared to 2023. Of which, the number of newly licensed projects was 71 projects (down 107 projects compared to 2023) with registered capital of 233.6 million USD (higher than the same period in 2023 at 182.7 million USD); 26 projects adjusted to increase/decrease capital with a total additional capital of 7.9 million USD...

KP Aerospace Vietnam Co., Ltd. (Korea) held the inauguration ceremony of the KP Vina Aviation Components Factory Project located in Da Nang High-Tech Park on December 13, 2024. Photo: DINCO.

Several major projects of enterprises such as Murata Manufacturing Vietnam Co., Ltd., ODK Mikazuki Vietnam Co., Ltd., Daiwa Vietnam Co., Ltd., ICT Vina Co., Ltd.... have been completed and put into use.

Regarding domestic investment attraction, Da Nang City has granted investment certificates to 19 domestic projects with a total newly registered capital of VND 73,348 billion; although there were 6 projects less, the total newly registered and adjusted capital increased by 56.5% compared to 2023.

Some economic targets achieved by Da Nang City in 2024 such as the City's GDP is estimated to increase by 7.51%; the economic scale is estimated to reach more than 151,307 billion VND, expanding by nearly 17,086 billion VND compared to 2023 (the scale of total added value of the service sector expands the most with 12,993 billion VND); import-export turnover reaches 1,911 million USD (up 2.9% compared to 2023)...

The total number of visitors served by accommodation establishments and travel agencies is estimated at 12.4 million, including 4.6 million international visitors. Total retail sales of goods and consumer service revenue is estimated at VND 136,954 billion, up 15% compared to 2023; of which revenue from travel services and tourism activities increased the most at 29.8%.

Some public investment projects have had high progress in recent times such as the Lien Chieu Port Construction Investment Project - shared infrastructure; Coastal road connecting Lien Chieu Port; Investment in construction and upgrading of Da Nang Maternity and Pediatrics Hospital; Quang Da Bridge and approach road; Social housing for people with revolutionary contributions on Vu Mong Nguyen Street...

Along with that, investment projects with non-budgetary capital in the city also achieved high implementation value in 2024, typically TTC Plaza Da Nang Project; The Filmore Apartment; Han River Tourist Service Area; The Ori Garden Social Housing; Ba Na Hill Festival Area; Apartment Project East of Tran Hung Dao Street; Han River Complex Project Peninsula Da Nang; The Estuary Tuyen Son Complex Project...

Despite many achievements, the Department of Statistics of Da Nang City also pointed out many limitations in the city's socio-economic development.

Accordingly, the number of enterprises requesting to temporarily suspend and withdraw from the market continues to increase (up 3.9% and 2.2% respectively over the same period) while the number of newly joined enterprises tends to decrease compared to 2023 when there were 4,051 newly established enterprises, branches and offices (down 8%) with a total registered charter capital of VND 16,029 billion (down 27.3%).

The Da Nang City Statistics Office mentioned that according to the survey results assessing the factors affecting the development capacity of enterprises in the processing and manufacturing industry, many enterprises face difficulties due to limited product output markets; some enterprises cannot recruit workers as required; lack of raw materials, fuel, input materials... In particular, many enterprises face financial difficulties while the price of land rental for production is still quite high compared to many other localities in the region and across the country.

The real estate market has only just begun to show positive signs in the fourth quarter, so it has not been able to improve the sharp decline in the first months of the year. Many real estate projects are facing difficulties in capital sources and cannot sell products; legal procedures of some projects are slow to implement, the supply of some real estate segments is scarce, etc., which are the reasons holding back the growth of the service sector in 2024.

Sharing at the press conference, Mr. Tran Van Vu said that, learning from the experience of the low growth of the industrial and construction sectors in the first quarter of 2024 affecting the growth of the whole year, the Statistics Office has advised and recommended that the City accelerate in early 2025.

“Da Nang City has worked with FPT Group to start 4 projects in the first quarter, 1 project in the fourth quarter; FPT Group's project alone is 5,050 billion VND, of which 1 project in the fourth quarter is 1,000 billion VND, the remaining 4,040 billion VND must be implemented in the first quarter of 2025. Normally, we meet with businesses after the Lunar New Year, but the City's current policy is to implement it right from the beginning of the year. In the first quarter of 2025, the Statistics Office will grasp how many businesses are operating right from the beginning of the year, how many projects are being implemented to promote immediately," said Mr. Vu.

Source: https://baodautu.vn/doanh-nghiep-danh-gia-da-nang-la-diem-den-dau-tu-hap-dan-dang-tin-cay-d238228.html