Investment attraction: Covid-19 without 'disturbance'

Although the Covid-19 pandemic has caused a lot of disturbance, the work of attracting investment gains positive signals  in the first half of 2020 belonging to 3rd  main years of Danang city.


The Spring Seminar program which is the biggest investment attraction forum of Da Nang city of the year was not organized in March, but from the beginning of the year until now, the locality has still achieved encouraging results in attracting investment: More than 13,200 billion domestic investment capital, more than 135 million USD of FDI. Accumulated to date, Da Nang city has 337 domestic investment projects (total capital of more than 115,000 billion VND), 855 FDI projects (more than 3.5 billion USD). There is an outstanding project with the investment capital 60 million USD invested in the High-Tech Park of Dentium Co., Ltd. (Korea). Project of Incubating technology of manufacturing and assembling electronic equipment by Surface Mount Technology (SMT) at Danang IT Park has just has completed customs clearance and imported machines at Tien Sa port on July 14. There are also large amount of big projects outside the industrial zones, at least 4 projects with registered capital of more than 10,800 billion VND.

Mr. Nguyen Anh Huy, General Director of Danang IT Park Development Joint Stock Company (Da Nang IT Park), said that the project of Incubating technology to manufacture and assemble electronic equipment by Surface Mount Technology is the results of the process of cultivation, investment promotion with the preferential attraction policies of Da Nang city. Currently, the imported machines has been installed and put into operation while waiting for the debut of the first products at Da Nang IT Park.

 Mr. Tran Phuoc Son, Director of the Department of Planning and Investment, said the city has set a key task of disbursing well for public investment, especially key infrastructure projects to create a driving force to attract investment, develop socio-economic, especially create confidence for investors, support production and business, recover economic growth. These are typical projects: road and bridge over Co Co River, West 2 ring road, East water environment improvement project, Hoa Lien water plant, improving intersection west of Tran Thi Ly bridge, Center for neurosurgery, trauma and scalds at Danang Hospital ...

Notably, in the private investment sector, many obstacles are being removed in order to release social resources and revive the economy around the project area. Projects that have existed for many terms are also showing positive signals in land allocation procedures, such as Nam O eco-tourism area, Lang Van resort and entertainment complex, urban areas FPT, Vina Capital golf course, An Hoa high-rise commercial service complex, apartment building - commercial office - Tuyen Son housing ... Strong promotion signs are also proved in other projects such as Bilingual Inter-level School, International Center for Diagnosis and Treatment, International Hospital for Cancer and Fertility, Getaway Complex (2 billion USD), Project Downtown Duty Free Shopping Center (Downtown Duty Free) ...

According to Mr. Tran Phuoc Son, Da Nang City has implemented a number of regulations on investment and construction management to remove problems, adjust and supplement the contents to contribute to speeding up the implementation progress. “The decentralization of the units has been strengthened, such as the authority to decide on investment, shorten the time to implement investment procedures… In addition, there are many other specific solutions such as assigning tasks, progress  which belong to the responsibility of each unit, in the head of clearance, handling of records and procedures, ”he said.

According to the Department of Planning and Investment, since the beginning of the year, the People's Committee of Da Nang City has drastically implemented measures to speed up the disbursement of public investment capital. Including: Decision 5999 clearly emphasizes to focus on management to promote disbursement of public investment, Decision No. 345 aims to solve problems in the ground, speed up the progress of works and projects being implemented.