The central city of Da Nang always appreciates the contribution of Japanese enterprises to the socio-economic achievements in 30 years attracting foreign direct investment (FDI) into Viet Nam.

The statement was made by vice chairman of Da Nang City People’s Committee Ho Ky Minh at an investment promotion conference held in Ha Noi on Friday.

Minh said they also considered Japan as an important strategic partner for concentrating investment attraction.

By the end of November 2018, Da Nang has attracted 670 FDI projects with total registered capital of US$2.88 billion. Of which, Japan has invested in 163 projects with a total registered capital of more than $675 million and is the country with the largest investment projects in Da Nang.

Japan’s investment projects focus on manufacturing and processing industry as well as information technology and communication.

These projects have created jobs for more than 20,000 local workers, providing advanced management models, modern business methods and having a positive impact on domestic enterprises in terms of technology innovation and product quality.

They have also contributed to increasing export turnover and actively contribute to enhancing the image of Da Nang in the region and also in the world.

“Although the contribution of Japanese FDI enterprises to the development of the city is considerable, the attraction of Japanese FDI to Da Nang is still limited,” Minh added.

The city continues to improve infrastructure, preferential investment policies, actively support existing investors, promote administrative reform as well as build a transparent and favorable investment environment.

Da Nang wants to attract Japanese investors from small and medium enterprises to multinational corporations with advanced finance and technology capabilities to learn about investment environment and opportunities of the city in the fields of precision mechanics, automation, information technology, hi-tech in general and high quality services in line with the planning orientation of the central city in the future, according to the vice-chairman.

Speaking at the conference, Hironobu Kitagawa, Chief Representative of Japan External Trade Organisation (JETRO) said Da Nang City was very potential for investment, however, not many Japanese firms knew about the existence of this central city.

JETRO was trying to promote the investment opportunities to Da Nang for Japanese companies to come here and start their business.

“Da Nang City has significant potential for developing some areas such as information technology, food and beverages, and hotel and resorts,” Kitagawa told Viet Nam News.

The event was organised by the People’s Committee in cooperation with JETRO. It drew the participation of more than 100 delegates from the associations and investors from Japan. — VNS