Many foreign investors seek opportunities in Danang

Leading companies from Germany, the Netherlands and Japan are eyeing to invest in Danang, given the resumption of international routes.

The central city’s Investment Promotion Agency recently hosted a meeting between Danang companies and their Dutch counterparts operating in trade, investment funds, smart lighting, education, environmental technical consultation, manufacturing, maritime, logistics, sustainable design, and business consulting.

They also discussed the prospect of cooperating on key projects that Danang is seeking investment in, such as Lien Chieu port, expanded Danang airport, airport urban areas, and environmental projects.

At the event, a strategic cooperation deal was signed between Danang Public Lighting JSC and Signify Vietnam Company, an arm of Netherlands-based Signify Group, to implement lighting projects in consulting, design, training, technology transfer, software support, and intelligent lighting control system fields.

Guido Van Rooy, Executive Director of the Dutch Business Association in Vietnam, lauded Danang for its rapid economic growth and enormous potential. There are currently six Dutch companies operating in the city, with total investment capital of $490,000.

The Danang Hi-Tech Park and Industrial Zones Authority (DHPIZA) on Wednesday welcomed Brose Group and the Delegation of German Industry and Commerce in Vietnam.

A Brose Group representative said the German automotive supplier intends to invest in an electronic equipment factory in Vietnam. The rep praised the city’s infrastructure, namely its airport, seaports and logistics services, as well as the favorable location of Danang Hi-Tech Park and auxiliary technical infrastructure.

Previously, the city's Chairman Le Trung Chinh met with representatives from a joint venture between Vietnam’s BRG Group and Japans’s Sumitomo Group. The venture is proposing to invest in some projects including the Danang airport, seaport, logistics, and airport and seaport urban areas.

Yakabe Yoshinori, Japan's Consul-General in Da Nang, stated that Danang is an essential strategy in Japan's foreign policy. The Japanese authorities highly value the Lien Chieu port project, which serves as the starting point of the East-West Economic Corridor, he added.

Japan is the largest investor in Vietnam, with around 4,800 projects worth more than $65 billion, and the top provider of ODA, with nearly $27 billion.

The country is a prominent partner of Danang in investment and trade, with 216 projects worth $985 million, accounting for 25.5% of the city's total FDI. Japan is also Danang's largest export market, with $572 million in export value, accounting for 37% of the city’s export turnover.