Da Nang Attracts over VND8,638 Billion Domestic Investment

10:08:31 AM | 25/12/2019

2019 is a watershed year for Da Nang City to quicken the fulfilment of goals set by the Resolution of the 21st City Party Congress and the 5-year Socio-Economic Development Plan in 2016 - 2020. The city has also focused on implementing Resolution 43-NQ/TW on Da Nang City Construction and Development to 2030, with a vision to 2045.

As in 2018, Da Nang City continues to select and direct the consistent and effective implementation of the annual theme “The year of strong investment growth” in 2019, which underlines the completion of investment attraction mechanisms and policies; concentrates resources on building infrastructure and creating land funds for investment needs of enterprises; and reviews and announces land plans to call for investment. Da Nang City creates an open and transparent investment climate to become a truly attractive destination for domestic and foreign investors, especially reputable and capable investors engaged in high value-added fields.

In this context, right from the beginning of the year, the Department of Planning and Investment of Da Nang City has boldly registered the task of “Promoting and attracting funds (investment approval, PPP and land-use bidding) for six domestic investment projects with a total registered value of VND6,000 billion." This is one of three key tasks of the Department of Planning and Investment in 2019.

To date, the Department of Planning and Investment advised the Municipal People’s Committee to issue seven investment decisions with a total value of more than VND8,638 billion, 36.25% more than the period in 2018. As of October 30, 2019, the city licensed 329 domestic investment projects with VND104,516 billion (US$4.6 billion), many with more than VND1,000 billion of registered investment capital like the VND1,823-billion Thuy Tu Urban Technical Infrastructure Construction Project invested by Corporate Finance and Development Joint Stock Company and the VND4,942-billion Da Nang Coastal Resort and Villa Project invested by Quang An Urban and Tourism Development Joint Stock Company.

The above results came from ongoing efforts of authorities of all levels and branches in general and of the Department of Planning and Investment in particular to improve the investment environment, reform administrative procedures and create favorable conditions for businesses. For each project, the department actively coordinates with relevant departments and branches to guide investors to complete their procedures to have their investment licenses granted.

In addition, to draw more investment capital in 2019 as expected, the Department of Planning and Investment proposed many practical solutions like studying and proposing solutions to deal with investment hardships in connection with land, planning and financial obligations to the state budget; receiving and handling suggestions and proposals from enterprises, promptly reporting and advising the City People’s Committee to hold talks with enterprises and direct solutions for relevant bodies; actively providing information on investment policies, procedures, opportunities, environment and partners for enterprises and investors seeking to learn about investment.

While successfully completing the key task of domestic investment attraction in 2019, in the coming time, the Department of Planning and Investment will further its efforts to court more investors and effectively enforce Resolution 02/NQ-CP dated January 1, 2019 on continued carrying out of major tasks and solutions for better business environment and national competitiveness in 2019 and to 2021; and Action Program for implementation of Government Resolution 35/NQ-CP dated May 16, 2016 on business support and development to 2020.

At the same time, the department will continue to execute measures to raise the Provincial Competitiveness Index (PCI) and the Public Administration Reform Index (PAR Index); regularly advise the municipal government on business dialogues; and promptly handle difficulties and obstacles for enterprises and investors to feel assured in doing business and expanding investment in the city.

Hoang Ngoc