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Da Nang eager to attract more investors from RoK
Da Nang will always create the best possible conditions for businesses to invest in the city, says a local senior official.
Phung Viet Tan, Vice Chairman of the Municipal People’s Committee, underlined this at a seminar on promoting trade and investment with the Republic of Korea (RoK) on August 30, which was attended by representatives from 15 businesses from the Republic of Korea.
The seminar was to provide the RoK with more information about the city’s investment policies, its industrial park projects and other information related to healthcare and education services.
Mr. Tan said that in an effort to attract more investors to the city, the seminar will help businesses iron out snags related to administrative procedures.
The representatives from the RoK praised the investment environment in Da Nang, saying that the local authorities have helped them a lot with the licensing procedures, ground clearance, transportation, and other business operations.
Da Nang now has 179 FDI projects, with a combined investment capital of US$2.8 billion, 30 percent of which are invested by businesses from the RoK, with 21 percent of the total and the turnover of two-way trade in 2009 reached US$29.1 million. Da Nang’s major exports to the RoK were garments and textiles, footwear, seafood, and handicraft products while the city imported raw materials for textiles and garments, steel, and spare parts for the automobile sector from the RoK.
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