Representatives from Da Nang's Investment and promotion centre and KPMG company,  sign a Memorandum of Understanding (MoU) on co-operation, investment promotion and providing service for businesses and investors in Da Nang. — VNS Photo Cong Thanh

DA NANG (Biz Hub) – The central city's investment and promotion centre and KPMG, one of the largest audit, tax and advisory firms in the world, signed a Memorandum of Understanding (MoU) on co-operation, investment promotion and providing service for businesses and investors in Da Nang.

The MoU, inked on April 21, aims to increase the amount of information on the investment environment, the city's preferential policies for investors and businesses, and hosting conference and seminars to attract investors to Da Nang.

Da Nang drastically improved its administrative reform and Provincial Competitive Index over the past few decades, but poor investment promotion abroad has prevented key investors from approaching the city and central region in recent years.

Located at the end of the East-West Economic Corridor that links Thailand, Laos, Myanmar and Viet Nam, Da Nang has attracted 372 FDI projects, with a total capital of US$3.5 billion. Of these, 25 FDI projects were from tourist real estate worth US$1.8 billion.

The city has so far developed 16 tourist property projects consisting of 749 villas. Of these, 609 are for sale and 140 for lease.

KPMG, one of the leading ‘Big 4' professional service firms, began operations in the central city last year as an expansion of its footprint in Viet Nam after 20 years of operation.

The company said the introduction of the office in Da Nang was a strong commitment by the company to boost economic growth in Viet Nam and conform to Trans-Pacific Partnership (TPP) and ASEAN Economic Community (AEC) guidelines.

"KPMG's office in Da Nang opened at the right time to help with development in the city and the central region of Viet Nam," said Chairman and CEO of KPMG in Viet Nam and Cambodia Warrick Cleine.

"The opening of our new office in Da Nang reflects KPMG's recognition of the contribution that the central region has and will continue to play in fueling Viet Nam's economic growth and prosperity," Cleine said.

He said it's a logical step for KPMG, given the number of clients in the region.

Last year, KPMG also hosted an annual conference on taxes and audits with the participation of over 100 businesses and Government officials in preparation for the TPP and AEC. — VNS