Central city to develop hi-tech supportive industries

Wednesday, Feb 10, 2021 14:29

Construction work at an investment project in the Da Nang Hi-Tech park in Hoa Vang district.— VNS Photo Cong Thanh

Plans are in the pipeline to build an industrial park in Da Nang dedicated to supportive industries.

It is part of the Government’s master plan of industrial park development from 2030-2045.

It will be built on the edge of the Da Nang Hi-Tech Park.

Head of the city’s Hi-Tech park and the Industrial Zones Authority (DHPIZA), Pham Truong Son said the decision was signed by Deputy Prime Minister Trinh Dinh Dung, and the 58.5ha supportive industries park will offer investment for domestic and foreign businesses.

Son said the supportive industry park, which is sandwiched between the Hi-Tech Park and Da Nang Information Technology Park in Hoa Vang District, has completed 85 per cent of infrastructure since 2016.

He said Da Nang has yet developed supportive industries – one of the disadvantage factors of the city in luring investment from domestic and foreign investors.

Son said the city wants to boost the development of supportive industries over the next decade.

The city has been building a development plan on three new industrial zones – Hoa Cam, Hoa Nhon and Hoa Ninh on total 880ha – for approval by the Prime Minister.

According to DHPIZA, the construction of the three new IZs would be soon commenced in 2021.

The city has called for investment for infrastructure works on the three new IZs in 2020-23 with an estimated investment capital of VND13.8 trillion (US$604 million).

The new IZs have been designed as ‘green’ and ‘clean’, and hopes to attract hi-tech and environmentally-friendly industries.

The Da Nang-based Sunshine Aerospace components manufacturer plant, which was invested by the Universal Alloy Corporation from the US worth $170 million, began operation after one year of construction in March of 2020.

Da Nang’s industrial infrastructure projects offer advantage location for investors as it boosts connection of key traffic routes including the Da Nang-Quang Ngai Expressway, the Chan May Economic Zone in Thua Thien-Hue, the Chu Lai Economic Open Zone in Quang Nam and Dung Quat Economic Zone in Quang Ngai Province.

The Hi-tech Park and IZs would be a magnet for global industrial firms and producers, offering flexible land rent, land clearance, income tax and import tax policies.

Investors with projects valued at more than $133 million will enjoy a 10 per cent tax rate for 30 years, according to DHPIZA. — VNS

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