In the first nine months of this year, the city allowed five new Japanese investment projects worth a total of $31.4 million.— Photo sunland

DA NANG (Biz Hub) — Japan is one of the top five foreign investors in this central city. With more than 90 businesses and representative offices worth over US$370 million, Japanese enterprises account for 30 per cent of foreign investment.

Japanese firms in the city generate approximately 30,000 jobs, contributing greatly to the local budget and the city's annual average growth rate of 11 per cent.

In the first nine months of this year, the city allowed five new Japanese investment projects worth a total of $31.4 million.

These firms specialise in paper, seafood and agricultural product processing, the restaurant business, electronic components and software outsourcing, and are increasingly adopting advanced technology.

Besides investing on their own, the foreign firms have encouraged others to enter the city.

In addition to its $40 million investment in the Da Nang High-Tech Park, the Tokyo Keiki Incorporation urged Niwachuzo Company to pour $22 million into the park.

To accelerate foreign investment, the city now has four Japanese training centres and hundreds of university undergraduates studying Japanese, along with nine restaurants serving Japanese dishes.

Japanese corporations and businesses are choosing Da Nang as an investment partner due to its favourable investment climate, socio-economic conditions and facilities, said former Japanese Ambassador to Viet Nam Yasuaki Tanizaki during his Da Nang visit in August.

The city recently held several conferences in the Japanese cities of Tokyo and Osaka to attract further investment in its high-tech zone.

Japanese firms seeking investment opportunities in Da Nang can invest in the electricity industry, electronics, optical and communication technologies, machinery manufacturing, nanotechnology and medical equipment manufacturing.— VNS