DA NANG (VNS) — Representatives from the cities of Da Nang and Japan's Yokohama yesterday signed a Memorandum of Understanding on technical co-operation in urban development.

According to the agreement, Yokohama will provide technical assistance for Da Nang in the fields of eco-friendly development, education, science, economics, environment and investment.

The two cities also agreed to encourage investment from the private sector and science organisations in ecological urban development.

Da Nang and Yokohama also plan to open direct flights between the central city and Haneda in the coming years.

Deputy mayor of Yokohama Suzuki Takashi said he hopes enterprises from Yokohama would flock to the central city in the near future.

Vice chairman of the Da Nang's People's Committee Phung Tan Viet said the city will create favourable conditions such as one-stop shop procedures for Japanese investors.

Da Nang has 241 foreign direct investment (FDI) projects with total capital of US$3.6 billion, of which Japan has 60 projects worth a total of $350 million.

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 FDI projects.

As scheduled, groups of Japanese investors will come to study the feasibility of sewage treatment and water supply projects as well as work on improving the city's sea ports this year. The central city and Yokohama also plan to hold an Investment Promotion Conference in Yokohama, Japan this July, aimed at boosting economic co-operation and investment between the two cities. — VNS