Mitsubishi looks to tap Danang potential in industrial real estate, logistics

Japan's Mitsubishi Corporation is seeking investment opportunities in diverse areas in Danang, an economic and tourism hub in central Vietnam, including industrial real estate and logistics.

The trading giant’s Vietnam subsidiary is looking for retail, industrial real estate, manufacturing, warehousing and logistics facilities for lease, the city said on its portal.

Takuya Sahashi, Mitsubishi Corp Vietnam vice president, said in a Friday meeting with Danang authorities that his company was aware of the coastal city’s great potential.

Ho Ky Minh, standing Vice Chairman of Danang People's Committee, told the Mitsubishi executive that the administration would create favourable conditions for the corporation to invest in the city. Minh ordered officials in charge of investment promotion, foreign affairs, industry and trade to assist the corporation in accessing information and carrying out needed studies.

Danang has been attracting greater investor interest, both domestic and foreign, in recent years. Executives of ParkCity Property Holdings met on June 30 with Danang mayor Le Trung Chinh as the Malaysian real estate developer explored mega project possibilities in real estate and infrastructure development.

FPT, Vietnam's leading information technology corporation, plans to invest VND6,000 billion ($258 million) in Danang in the years 2022-2025.

Twenty seven projects worth $5.6 billion in hi-tech, urban development, tourism, ports, and logistics areas were awarded investment certificates or in-principle approval on June 25 in Danang.

Prime Minister Pham Minh Chinh told an investment forum in Danang in late June that Danang is one of the top Vietnamese business destinations in terms of competitiveness index, ranks first in readiness to apply IT, and ranks third in administrative procedure reform.