US firms sign memoranda of understanding on Da Nang investment

US firms have inked three memoranda of understanding (MoU) on investment in hi-tech and information technology in the central city of Da Nang during a recent working trip to the US and Canada by Chairman of the municipal People’s Committee Huynh Duc Tho.

us firms sign memoranda of understanding on da nang investment hinh 0
At the Da Nang Business Roundtable (Photo: nhandan newspaper)

The signing ceremony took place at the Da Nang Business Roundtable recently held in the US’s Silicon Valley, according to the municipal Investment Promotion Agency on August 21. 

The first MoU between the Authority of Da Nang's Hi-Tech Park and industrial parks and Ai20X Silicon Valley will focus on developing Da Nang Hi-Tech Park. 

The MoU between the US’s Meritronics AMT Company and Da Nang Hi-Tech Park Development JSC looks to establish Trung Nam Meritronics Technology JSC, which will provide electronic manufacturing services at the Da Nang Hi-Tech Park.

The third MoU, signed by Ai20X Silicon Valley and Da Nang IT Park Development JSC, aims to develop the Danang IT Park into an expanded Silicon Valley.

At the event, Chairman Tho said the US is now the third largest investor in Da Nang with 63 projects worth 595 million USD, accounting for nearly 19 percent of the total. 

He invited US investors with financial and technological capacity to Da Nang to learn about its business environment and opportunities, especially in information technology, electronics, aeronautics, automation, artificial intelligence, support industry, health care, education and real estate. 

This year, Da Nang will continue providing optimal support for businesses via vocational training, protection of intellectual property rights and incentives at Da Nang Hi-Tech and IT Parks.

VNA

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