Da Nang High-Tech Park tries to attract more investment

Japan’s Tokyo Keiki Precision Technology in Da Nang High-Tech Park was inaugurated (Photo: baogiaothong.vn)

The government and Da Nang municipal administration have invested nearly US$84 million in upgrading Da Nang High-Tech Park’s infrastructure.

Covering more than 400 hectares, Da Nang Hi-Tech Park currently houses 10 projects with a total investment capital of US$250 million, three of them are 100% foreign invested projects.

Doan Ngoc Hung Anh, Deputy Director of the Park’s Management Board, said since the beginning of this year an increasing number of domestic and foreign investors has visited the park to seek investment opportunities thanks to the government’s especially preferential policy and the successful organization of the APEC Leaders’ Week 2017.

Mr. Hung Anh said, "We are outlining a plan to accelerate investment attraction and introduce the park on media overseas. We have met potential investors and introduced them to our preferential policies. During APEC Leaders’ Week in Da Nang, we had an opportunity to connect with a number of investors. A big investment project is likely and if it’s successful, it will create a momentum for the development high-tech parks in Da Nang.”

Da Nang Hi-tech Park is one of three key national hi-tech parks together with Hoa Lac Hi-Tech Park in Hanoi and Ho Chi Minh City Hi-tech Park to enjoy the government’s preferential treatment in investment attraction. New investment projects in these parks will be completely exempted from land lease fees for the project’s entire duration and from the compensation for land clearance. The projects that are worth US$132 million or more will be entitled to a preferential tax rate of 10% for 30 years, exemption of corporate income tax and tax reduction and exemption for import goods.

Overseas Vietnamese investors, experts, and workers or foreigners working directly in the park and their family members including parents, wives, offspring or adopted children under 18 years old  will be likely granted with multiple entry visas or visas with validity suitable with entry purposes.

Huynh Duc Tho, chairman of Da Nang People’s Committee, said, “The directions are correct and efficient. They will bring in a great source of revenue, especially create a high skilled workforce and help the city grow rapidly in many aspects.”

Following the success of the APEC Economic Leaders’ Week 2017, this year Da Nang will continue to prioritize funding infrastructure improvement, connect transportation routes within the high-tech park, put into operation bus routes from the city center to the hi-tech park, and build houses for workers and kindergartens for their children. In its development plan, Da Nang identifies IT and tourism its top priorities.