The central city of Da Nang has seen rosy signs regarding foreign direct investment (FDI) attraction at the beginning of the new year.
It recently granted a certificate of investment registration to a project worth US$35 million from Japan’s Fujikin Incorporated to develop a research and development centre, according to the Da Nang Hi-Tech Park and Industrial Zones Authority.
The project aims to step up scientific research and technological development in the fields of robotics, drones, and nano devices, among others.
A company representative said it will promptly carry out investment procedures and construction is scheduled to begin in May.
Completion and opening are expected in July 2022 to mark the 20th year of Fujikin’s operations in Vietnam.
Head of the authority Pham Truong Son noted that this is the seventh Japanese-invested project in the Da Nang Hi-Tech Park and also the second-largest in terms of registered capital.
Project approval is a silver lining in the city’s FDI attraction against a backdrop of the ongoing pandemic, he said, adding that the city is working to attract more investment from Japan.
Meanwhile, Arevo Inc., a software company from the US, is considering pouring US$135 million into a project on 3D printing services at the Da Nang Hi-Tech Park.
The project is expected to create an impact for the development of the Da Nang Hi-Tech Park and Industrial Zones in innovation, investment promotion, and human resources development, Son said.
Some US$145 million in FDI has been gone to the Da Nang Hi-Tech Park and Industrial Zones in the first two months of the year, bringing the total amount to US$536.1 million.