Danang grants 14 foreign investment projects in January

The scale of foreign investment projects in Danang rose sharply to reach $3.3 million per project in 2019

As of January 22, the Danang Department of Planning and Investment had granted investment certificates to 14 foreign direct investment (FDI) projects with a total committed capital of $1.68 million. The projects are mainly in the fields of food, services, information technology, and foreign language training.

The department also said that Danang is considering the issuance of an Investment Promotion Programme in 2020 to serve as a basis for performing the tasks related to investment promotion in the city as planned.

At the same time, the city is speeding up the implementation of procedures to hand over the investment registration certificates and investment research policies in time to a number of investment projects at the upcoming 2020 Spring Conference.

In the past year, despite facing many obstacles, Danang proved an appealing investment location to investors. Along with this, from January 1 to December 15, the city counted $690.76 million in FDI volume.

This included 132 new projects with the total registered investment capital of $438 million; 16 capital expansion projects with $117.38 million; and 210 instances of capital contribution by foreign investors with a total value of $135.3 million. Danang also granted investment decisions for nine projects with a total investment of VND8.83 trillion ($383.9 million)

Compared to 2017 and 2018, the investment scale of FDI projects in 2019 had increased considerably. Specifically, the average investment scale was nearly $1.2 million per project in 2017 and was more than $1.2 million in 2018. In 2019, the figure climbed to $3.3 million. Total registered investment capital in 2019 increased by 1.9 times compared to the same period in 2018.