Representatives from the cities of Da Nang and Japan's Yokohama ink on an extension of the Memorandum of Understanding on technical co-operation in urban development in 2016-19. — VNS Photos Cong Thanh

DA NANG (Biz Hub) — Representatives from the cities of Da Nang and Japan's Yokohama have agreed on an extension of the Memorandum of Understanding on technical co-operation in urban development to 2016-19.

The memorandum, which was inked by the two cities in 2013, has helped the central city in eco-friendly development, education, science, economics, the environment and investment.

As scheduled, the extension agreement will continue the co-operation between the two cities in investment promotion, urban management, an eco-city development, sustainable urban development and also calls for support from the Japanese International Co-operation Agency (JICA).

Director of the International Technical Co-operation Division, Policy Bureau in Yokohama City, Nakajima Tetsuya said the memorandum will help Da Nang deal with the challenges of urban development in the future.

‘We'll help the city with its target of becoming a key economic zone in the central region, a competitive city in comparison to Ha Noi and HCM City. The memorandum also focuses on links between Da Nang and other cities in the region and the sub-Mekong region as well," Nakajima Tetsuya said.

"We also agreed on developing an urban model of Da Nang that is based on strategic infrastructure including a North-South key mass transport system with Light Rail Transit (LRT) and Bus Rapid Transit (BRT)," he said.

He said Da Nang should grow as a key centre of hi-tech and environment-related industries in the central region.

A coner of Da Nang City. Director of the International Technical Co-operation Division, Policy Bureau in Yokohama City, Nakajima Tetsuya said the memorandum will help Da Nang deal with the challenges of urban development in the future.

Iwata Shizuo, an expert from JICA, suggested that Da Nang should promote Public Private Partnerships (PPP) in developing future urban areas.

Chairman of the Da Nang City's People's Committee, Huynh Duc Tho, said the city gave top priority to co-operation with Japanese partners, and that the memorandum would help to entice more investors from Japan to Da Nang in the coming years.

He said the city would create favourable investment conditions, such as a one-stop shop for procedures Japanese investors would need to fulfill.

Da Nang has attracted 305 foreign investment projects worth US$3.37 billion, of which 89 projects worth US$378 million were from Japan.

Exports from Japanese enterprises accounted for 37 per cent of the city's total imports, while 30 per cent of the city's industrial production value comes from Japanese foreign direct investment projects.

Last year, the city's investment promotion centre also debuted its Da Nang Japanese Desk team, which will be available every Wednesday to support Japanese investors by explaining administrative procedures, investment licenses and priority policies, among other things.

The city planned to build an industrial park spread over 134ha for medium and small-size businesses from Japan. — VNS