Danang aims for at least $200 mln hi-tech investment this year

Danang, an economic hub in central Vietnam, is targeting to attract at least three high-tech projects with a combined capital of $200 million this year, according to the Danang Hi-Tech Park and Industrial Zones Authority (DHPIZA).

The three target industries are aerospace technology, semiconductors and high-quality medical devices, the authority told the city’s Vice Chairman Le Quang Nam at a Friday meeting.

During 2023, the DHPIZA licensed 19 projects with a combined investment of $258.6 million, exceeding its $200 million target set for the year. So far, the authority has attracted a total of 526 projects worth $3.413 billion.

The outlook on foreign investment into the city is bright as a number of semiconductor producers from Taiwan and Japan have shown interest in landing in Danang, according to the DHPIZA.

In addition, Taiwanese electronics maker Foxlink is set to increase its investment to $400 million in the future, while South Korea-invested ICT Vina has a capex plan of $277 million in the city.

To accommodate future investments, the authority plans to expand the high-tech park by 700 hectares.

Also on Friday, Vice Chairman Le Quang Nam toured several foreign-invested companies including ICT Vina, Universal Alloy Corporation Vietnam, and Synopsys Vietnam operating in the city to offer encouragement on the occasion of the Lunar New Year.

At the meeting with Synopsys Vietnam executives, Nam said that the city is accelerating a project to build a second software park to provide better operating conditions for information technology and semiconductor companies.