Vietnam Central City Attracts US$2.8B FDI Projects So Far
Vietnam’s central city of Danang has attracted US$2.8 billion from a number of foreign direct investment (FDI) projects so far.
Of the sum, US$2.1 billion was poured in 29 realty projects, accounting for up to 73% of the city’s total pledged FDI.
Virgin Island takes the lead among countries and territories making investment in the city with US$1.1 billion, followed by South Korea, the U.S., Hong Kong and Japan.
However, Danang city is witnessing many stagnant projects including US$24-million Vegas Beach Club Resort invested by the U.S.’s Magnum Investment Group.
Earlier, local authority planned to withdraw licenses of 11 investment projects totaling VND12.1 trillion (US$636.84 million) due to sluggish implementation. (Dat Viet)
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