Japanese FDI enterprises invest more than 1 billion USD in Da Nang

According to the Investment Promotion and Support Board of Da Nang City, Da Nang currently has 230 foreign direct investment (FDI) projects from Japan, with a total investment capital of more than 1 billion USD, accounting for 25% of the total FDI capital in Da Nang. Japanese enterprises have made positive contributions to economic development, creating jobs for thousands of local workers in recent times.

In recent years, many Japanese enterprises have chosen Da Nang as a “good land” to invest in production and business development. Many enterprises have had strong growth in both investment capital and scale of operation.

In its development strategy, Da Nang City aims to become a startup and innovation city by 2025, a major socio-economic center of the country, the core of the urban chain and growth pole of the key economic region of the Central Highlands; national defense - security and sovereignty over seas and islands are firmly guaranteed; striving to build a rich, beautiful, peaceful, civilized and modern city.

Doanh nghiệp FDI Nhật Bản đầu tư hơn 1 tỷ USD vào Đà Nẵng

Da Nang signed a cooperation agreement with Pasona Group - Japan

The goal by 2030 is to build Da Nang into one of the major socio-economic centers of the country and Southeast Asia. By 2045, Da Nang will become a large, ecological and smart city, a center for startups, innovation and a livable coastal city of Asian stature.

In particular, Da Nang focuses on developing 5 key areas: Tourism and high-quality services associated with resort real estate; Seaports and aviation associated with logistics services; Industry and high technology associated with building creative and start-up urban areas; Information technology, electronics and telecommunications industry associated with the digital economy; High-tech agricultural products and fisheries.

To achieve the above goal, the City continues to attract FDI enterprises to invest in areas where Da Nang has strengths and has a long-term development orientation, in line with the trend of green and sustainable development. In particular, the Da Nang City government pays great attention to attracting enterprises from Japan.

According to the Investment Promotion and Support Board of Da Nang City, Da Nang currently has 230 FDI projects from Japan, with a total investment capital of more than 1 billion USD, accounting for 25% of the total FDI capital in Da Nang. Japanese enterprises have made positive contributions to economic development, providing thousands of local workers in recent times.

Ms. Do Thi Quynh Tram, Deputy Director of the Investment Promotion and Support Department of Da Nang City, said that Japan is a key market that Da Nang continues to focus on inviting investors to learn about and invest in industries and fields that Da Nang has competitive advantages and development potential such as: high-tech industry, information technology, semiconductor industry, supporting industry, finance, high-quality services, logistics...

In fact, many long-term businesses in Da Nang highly appreciate the facilitation and support for business development. According to JETRO leaders, Da Nang has land prices that are only 1/3 and labor costs that are 20% cheaper than in Hanoi and Ho Chi Minh City. Labor resources and infrastructure ensure production activities such as hard ground, so the cost of pile driving construction is reduced, and factory construction costs are also cheaper than in other localities. The city also plans to build Lien Chieu Port, new industrial parks and clusters next to the High-Tech Park, the Concentrated Information Technology Park, industrial parks, and software parks that are operating well, which will create many advantages for investors in the coming time.

Recently, the Memorandum of Understanding between the Danang Investment Promotion and Support Board and Pasona Group (Japan) for a period of 3 years 2023-2025 was signed by the two parties. Pasona Group Japan is known as a large general human resources group, in the top 3 in Japan. Currently, this Group has more than 50 branch offices in 15 regions and countries around the world. This is the basis for Danang to achieve the goal of cooperation in promoting and attracting investment from Japan. Thereby, the parties focus on implementing activities in 2 main areas: supporting enterprises to expand investment and business and supporting human resource development in Danang.

Murata Manufacturing Vietnam Co., Ltd., one of the Japanese enterprises investing in Da Nang

On March 19, 2024, at the meeting between Japanese Consul General Yakabe Yoshinori and Chairman of the People's Committee of Da Nang City Le Trung Chinh, Japanese Consul General Yakabe Yoshinori affirmed that he would continue to call for Japanese enterprises to invest in the city. Mr. Yakabe Yoshinori highly appreciated the potential and advantages of Da Nang in socio-economic development. In order to attract more Japanese enterprises, Mr. Yakabe Yoshinori suggested that Da Nang leaders develop and expand human resources in areas such as: Industry, high technology, semiconductor chips... to avoid a shortage of human resources, causing loss of investment opportunities.

Mr. Le Trung Chinh highly appreciated the role and active contribution of Japanese Consul General Yakabe Yoshinori in the effort to promote the increasingly developing friendship and bilateral cooperation between the two countries in general and Da Nang in particular; At the same time, he proposed that the Japanese Consul General continue to support Da Nang in connecting with Japanese partners, corporations, and business associations in introducing and promoting the city and promoting connections with capable Japanese investors to cooperate and invest in Da Nang.

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