Da Nang plans to open a representative office in Yokohama, Japan, to co-ordinate investment, trade, tourism and other co-operation between the two sides. — Photo japan-guide.com

DA NANG (Biz Hub) — Da Nang plans to open a representative office in Yokohama, Japan, to co-ordinate investment, trade, tourism and other co-operation between the two sides.

Mai Dang Hieu, deputy director of the central city's foreign affairs department said yesterday that Yokohama has promised support, adding the liaison office is part of a plan to attract investment and tourism from Japan.

In 2009 Da Nang and Yokohama inked a memorandum of understanding for co-operation.

The city has also built relationships with other Japanese provinces and cities like Kawasaki, Mitsuke, Sakai, Nagasaki, Kagoshima, and Okayama.

Da Nang has attracted US$3.37 billion worth of FDI, of which Japanese investors accounted for $356 million.

But the city faces some major challenges in attracting Japanese investment, including the small market size, lack of direct flights, overloaded ports, and a dearth of supporting industries.

Last year Vietnam Airlines launched the first direct flight between Tokyo and Da Nang.

Da Nang has built a 100ha industrial zone exclusively for Japanese companies and a 1.2ha Viet Nam-Japan Cultural Exchange Centre.

It also plans to open an office in a Korean city later this year. — VNS