Da Nang has granted an investment licence to the first ready-built factories for rent project at the city’s Hi-Tech Park with the aim of attracting more investors to the park.

The project, which secured a VND1.05 trillion (US$46.4 million) investment from joint-stock Long Hau Company, will begin construction in the fourth quarter of this year. It will offer 29.6 hectares of international-standard work space for domestic and foreign businesses.

This is the first project of its kind in the 1,010 hectare park in Hoa Vang District, 20 km west of the city.

General director of Long Hau Company Tran Hong Son said the project will also build workshops ranging in size from 500 sq.m to 3,000 sq.m, providing space for hi-tech small and medium-sized enterprises at the park.

He said the company would support new investors with a one-stop shop procedure to ensure minimal set-up time at the park.

The September 16 licensing event also saw Japanese company Hatsuta Seisakusho agree to the site’s first factory lease contract for an area of 6,000 sq.m.

Hatsuta Seisakusho will start construction of the park’s first hi-tech fire extinguisher equipment project with an investment of VND60 billion ($2.7 million).

Hatsuta Kazuhiro, president of the Japanese company, said this was his firm’s first project in Viet Nam. He hoped the company would be successful working with Da Nang’s young and dynamic labour force.

It is the third hi-tech project from Japan to invest in the park. Tokyo Keiki Precision Technology Inc and Niwa Foundry poured a total of $62 million into the park since 2013, officially beginning operations at the site in 2015.

To date, the park has attracted 15 projects worth a combined $390 million in fields as varied as automation, nanotechnology, pharmaceutical production and embedded software systems.

Da Nang hopes the park will become a hub for green investors. It is one of three major multi-functional hi-tech parks in Viet Nam, only ranking behind its counterparts in HCM City and Ha Noi.

It is situated near the Da Nang-Quang Ngai Expressway to connect with the Chan May Economic Zone in Thua Thien-Hue, the Chu Lai Economic Open Zone in Quang Nam and the Dung Quat Economic Zone in Quang Ngai Province.

Da Nang has called for investment in 68 public-private-partnership projects, 22 of which are hi-tech projects worth $1.4 billion in total. —VNS