Danang: Land of promising UK businesses opportunities

VOV.VN - Danang is an important investment destination for UK businesses and with the advent of the EU-Vietnam Free Trade Agreement (FTA), business opportunities are set to increase, said speakers at a June 3 seminar in the city.

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The seminar examined the likely impacts the FTA will have on key business segments of the economy, heard success stories from companies that have succeeded in Danang, and looked at what support is available to help UK companies work with and in Danang.

In a keynote address at the event, UK Consul General to Ho Chi Minh City Ian Gibbons said currently UK companies have invested US$1.6 million in nine business ventures in the coastal city.

These have been largely in English language training, information technology, business consultancy and import-export activities. A large number of UK companies have also opened representative offices in the city.

Looking forward, said Mr Gibbons, UK companies have an avid interest in and are eager for opportunities in the tourism and hospitality segments, which he believes holds great promise for expansive growth.

Deputy Director Huynh Lien Phuong of the Danang Investment Promotion Centre in turn spoke about the advantages for UK businesses to invest in the city – citing strengths such as the Tien Sa deep-natural water port, the international airport, low labour cost and low land rents.

Ms Phuong said she hoped more UK businesses invest in the city and assured them the city would go out of its way to accommodate their needs and simplify the administrative processes to the greatest extent possible.

At the end of the seminar, leaders of Danang hi-tech park and the British Business Group Vietnam signed a preliminary memorandum of understanding to explore the possibility of investing in several enterprising ventures.

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