Danang lures 104 new FDI projects in 2023

Vietnam's central city of Danang licensed 104 new foreign-invested projects with total registered capital of $151.2 million in 2023, according to the municipal Statistics Office.

During the year, the coastal city saw 42 FDI projects with capital additions of $20.2 million and 37 foreign investors spend $10.7 million purchasing shares in Vietnamese firms, the office announced at a press conference on Friday.

The total newly registered and added FDI capital for the whole year reached $185 million, down 37.8% compared to 2022.

In the 2021-2023 period, the average number of newly licensed FDI projects in Danang increased 6.1% year-on-year. However, the low value of capital contributions reduced the disbursed FDI capital in 2023, which was estimated at $125.4 million, $43.8 million less than 2022.

Regarding domestic investment attraction, the city issued new and adjusted investment certificates for 42 projects with total registered capital of nearly VND47 trillion ($1.94 billion).

Of which, there were 25 new projects worth more than VND9 trillion ($370.83 million), including 14 in industrial parks; and 17 projects with capital additions of VND37.9 trillion ($1.56 billion), including 10 in industrial parks.

Danang’s 2023 gross regional domestic product (GRDP) grew 2.58% year-on-year, much lower than the average level of 5.51% recorded in the 2021-2023 period.

With such rate, the city ranked 54 out of 63 localities nationwide, fourth out of five provinces and cities in the central key economic region, and lowest among five centrally run cities which include Hanoi, Hai Phong, Danang, Ho Chi Minh City and Can Tho.

By the end of 2023, the city's economy was valued at more than VND134.25 trillion ($5.53 billion), expanding by VND9.73 trillion from 2022.

During the year, the city granted new business registration certificates to 4,173 businesses, branches and representative offices, with total registered charter capital of VND18.1 trillion ($745.78 million), down 6.7% in number of businesses and 20.6% in registered capital compared to 2022.

The number of enterprises resuming operations decreased by 26% year-on-year; while those registering to suspend operations went up 14.7%.

A total of 683 companies and affiliated units completed dissolution procedures, down 2.2% compared to 2022.