Central Vietnam city gives 78,000 sqm of land for Korean firm Dentium’s $177 mln factory
The central city of Danang has leased more than 78,000 square meters of land in its High-Tech Park to ICT VINA Co., Ltd., a member of South Korean medical equipment manufacturer Dentium, for building a $177 million factory.
Danang Hi-Tech Park, central Vietnam. Photo by The Investor/Thanh Van.
The land, in Hoa Lien commune, Hoa Vang district, will be used for non-agricultural production purposes, with a lease term of 50 years. It will be a one-time payment for the entire duration.
In late November 2024, the Danang Hi-Tech Park and Industrial Zones Authority (DHPIZA) gave an in-principle approval to the ICT VINA III project, which is designed to produce 280 tons of fuel cells per year and 260 tons of artificial teeth per year.
This is Dentium's third factory in the Danang Hi-Tech Park, following the $20 million ICT VINA approved in 2018 and $60 million ICT VINA II greenlighted in 2020, taking its total investment to $257 million.
As of November 2024, the city had attracted 521 projects to its hi-tech park and industrial zones. These include 396 domestic projects with a combined investment of VND33.88 trillion ($1.34 billion) and 125 FDI ones worth $2.22 billion.
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