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| Ship-building industry is a high-tech investment field that call for investment from foreign investors. — VNS Photo Cong Thanh |
Da Nang (Biz Hub) — The central city promises to create smooth conditions and top priorities for Singapore's investors in the fields of high-tech, information technology, renewable energy and high quality education.
Vice Chairman of the city's people's committee Ho Ky Minh said in a seminar on ‘Investment Opportunities in Da Nang' in Singapore on July 12.
Minh said the city will make a strong commitment in building available infrastructure, administrative reforms, preferential treatment and skilled labour, for wooing investors from Singapore.
He said the city will boost transparency and publicity in offering preferential favours, labour cost and investment fee for investors.
Ricky Tan, CEO of Kinderworld Education Group, said Da Nang is a potential destination for foreign investors in Viet Nam, and the group expected to expand investment in Da Nang in the coming year.
The group, the biggest Singaporean investor in the education and training sector in Viet Nam, has invested US$40 million in the construction and operation of 15 training facilities in Ha Noi, Da Nang, Ho Chi Minh City and Binh Duong.
It established the Pegasus International UniCollege (PIU) in Da Nang in 2014, along with its KinderWorld International Kindergarten (KIK) and the Singapore International School (SIS) to provide a world class educational system from pre-school to university levels in the city.
The head of the representative office of Foreign Trade Bank of Viet Nam, Vietcombank, Vu Thi Bich Thu confirmed that the bank in co-operation with Da Nang city is looking to create favourable financial support for Singaporean investors launching investment projects in Da Nang.
According to the city's investment promotion centre, Singapore has been the biggest investor in Da Nang with 22 projects worth $782 million.
Da Nang has attracted 410 Foreign Direct Investment (FDI) project with total $3.7 billion.
Businesses of foreign-invested projects earned a revenue of $766 million in 2015, of which $522 million was export turnover, creating over 48,000 jobs.
Last year, the city also organised investment promotion events in Japan and Germany.
As scheduled, the city, in co-operation with Vietnamese Businesses Union in Europe, will host a Europe Business Forum this August. — VNS