Central city calls for investment from the US

Tuesday, Sep 11, 2018 16:55

Representatives from Da Nang visit Silicon Valley in California during an investment promotion event in the US. — Photo courtesy of Da Nang Portal

The central city will offer the best conditions for businesses from the US investing in fields of high-tech, information technology, ‘green’ industries, trade, logistics, tourism and education.

Vice chairman of the city’s people’s committee Tran Van Mien made the statement at an investment promotion conference in San Francisco earlier this week.

Miên said the city has been completing infrastructure for the 1,100ha Hi-tech Park and 341ha Information Technology (IT) Park in Hoa Vang district for new investment in hi-tech industries.

He also called on two companies – Allied Telesis Holding and Advantech – based in Silicon Valley, to invest in ‘smart’ infrastructure projects in Da Nang as the central city aims to become a ‘smart’ and ‘green’ city by 2025.

Da Nang Hi-Tech Park, which is built on 1,100ha, has called for investment from the US in fields of hi-tech industries and logistics. — VNS Photo Cong Thanh

Da Nang and Oakland also agreed to boost co-operation in sea port system development in the central city in the coming years.

The central city has established relationships with cities in the US including Oakland, Pittsburgh and Pennsylvania.

To date, Da Nang has attracted 53 direct investment projects from the US, worth US$520 million.

Last year, the Trung Nam Group of Viet Nam agreed to buy a 65 per cent stake from the US’s Rocky Lai & Associates Inc in building the Da Nang Information Technology Park for operation in late 2023.

The park, with total registered investment of US$278 million, aims to become central Viet Nam’s Silicon Valley. It expects to create revenue of $3 billion each year with 25,000 jobs and a satellite city of 100,000 people. — VNS

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