Danang promotes investment in string of big projects

Danang is poised to step into a new development chapter

With the goal of becoming one of the major socio-economic centres of the country and Southeast Asia, Danang will focus on finishing key projects, including shopping malls, leisure complexes such as Vinacapital Danang Golf Resort, Ba Na-Suoi Mo ecotourism complex, the Lang Van resort complex, and InterContinental Danang Sun Peninsula Resort.

In addition, the city will concentrate on high-tech development across a total area of about 1,710 hectares, featuring Danang High-Tech Park and Expanded High-Tech Park and Danang Software Park No.1, 2 and 3; alongside the establishment of an innovation cluster south of the city in association with the Danang University urban area, the Innovation Centre, and Danang Software Park.

Many large corporations have registered to study investment opportunities in areas under Danang’s newly-adjusted planning right after the Danang Department of Tourism came up with many solutions to help achieve the target, including completing Danang city's tourism development master plan to 2030 with a vision to 2045 as well as developing new products and services.

For instance, Ecoland Group provided insights into forming a high-tech complex in Hoa Lien and Hoa Minh communes.

Chairman of Imex Pan Pacific Group (IPPG) Johnathan Hanh Nguyen said that his corporation had plans to pour more than $8 billion into numerous projects in the city, with the highlight of forming a regional financial centre in Son Tra district.

Notably, Phat Dat Real Estate Development Corporation also planned to carry out a 650-hectare project in Hoa Chau-Hoa Tien communes in the Development Reserve subzone (5,858 hectares).

Several investors like BRG Group, Sakae Group, and Sun Group expressed their interest in building duty-free areas, urban areas, and golf courses in the centre of Hoa Vang, Hoa Tien, and Hoa Chau districts and the 2,729ha Suon Doi (Hillside) subzone

Tran Du Lich, a member of the prime minister’s Economic Advisory Group, said that these revised contents in the general planning have set forth proper orientations for the development of Danang in the forthcoming time.

“Urban zones have taken shape fairly clearly in the planning. Notably, the revised planning envisages setting up the Danang Startup and Innovation Centre, focusing on promoting digital transformation, which is the right move that matches contemporary development trends,” Lich noted.

In 2021, the city granted investment licences to six investment projects in Danang Hi-Tech Park and industrial parks, including three foreign-invested projects.

The three foreign-invested projects are funded by Japanese and US investors. They include a $110 million semiconductor factory, the $35 million Fujikin Danang research-development-production centre, and a $300,000 packaging factory.

Besides, the city also gave in-principle approval to a $135 million project on 3D printing services of Arevo Inc. from the US at Danang Hi-Tech Park.

Danang expects to serve five million tourists this year, up 85 per cent compared to 2020.