Japanese hospitality investor docks at Da Nang city

Tuesday, May 17, 2016 20:08

Coastal resorts and hotels are built along beach of Da Nang City. Real Estate projects remain a favourite investment magnet in the central city, attracting 25 FDI projects worth US$1.8 billion. — VNS Photo Cong Thanh
DA NANG (Biz Hub) — Route Inn Group from Japan will develop a coastal resort, the first of its kind in Viet Nam, with total investment of US$18 million, a Da Nang city official said.

Vice Director of Da Nang's Foreign Affairs Department Mai Dang Hieu said that this was the first investment by a Japanese company in the hospitality sector in Viet Nam.

Hieu, who is head of Da Nang City's liaison office in Tokyo and Yokohama, said that the resort which encompasses 4ha, would be scheduled for operations later this year.

He said the project aimed to increasing investment flows and tourists from Japan to Da Nang and central region in the near future.

Hieu said the city officially launched a direct air route connecting Da Nang to Narita, Japan in 2014 with seven flights a week, and a direct Da Nang -Osaka route is expected to be put into operation from this August with four flights a week.

According to the municipal Culture, Sports and Tourism Department, the city hosted 4.6 million tourists, of which 1.25 million were foreigners, last year.

Number of Japanese tourists visiting destinations in Da Nang trebled as compared to previous years (66,000 tourists in 2015).

The city is home to 160 Japanese investors and 37 representatives with total investment of $500 million.

Japanese investment projects create 40,000 jobs for the city and neighbouring provinces.

Da Nang and Japan will start construction of the first Viet Nam-Japan Culture Exchange Park in Ngu Hanh Son District on August 1, and reserve a 134ha industrial park for medium and small-size businesses from Japan.

Last year, Route Inn Group also signed a Memorandum of Understanding with Da Nang-based Dong A College on tourism service employee training.

As scheduled, Route Inn will recruit 200 graduates from the college starting in 2018 to serve a chain of 320 hotels in Japan and Viet Nam.

Tokyo Keiki Inc and Niwa Foundry were the first two investors in the 1,010-ha Hi-Tech Park last year with a total investment of $62 million.

Tourist real estate remains a favourite investment magnet in this central city, attracting 25 foreign direct investment (FDI) projects worth US$1.8 billion or 54 per cent of total FDI capital in the city.

The city attracted 305 FDI projects worth $3.37 billion, of which 174, worth $2.19 billion, were in the service sector.

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

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