Da Nang licenses 5 FDI projects in 2 months

Central Da Nang City has recently licensed five foreign direct investment (FDI) projects with a total registered capital of over US$10.4 million. Among the licensed projects, two are from the US, one from Belgium, and the two ones from the Republic of Korea and Japan, according to the Da Nang Investment Promotion Center.

The city currently has 213 valid FDI projects totaling nearly US$3.2 billion, mostly in tourism, service, real estates and industry. It is taking drastic measures to lure bigger FDI this year. On October 12, the municipal authorities met with Korean investors to discuss how they can do to facilitate their effective investment and introduced to them new incentives to better the investment environment there.

Da Nang calls for high-tech investment

The central city’s administration has granted an investment license for Tokyo Keiki Inc in the 1,100ha hi-tech park, the head of Tokyo-based Da Nang city’s representative office Mai The Hieu said late last week.

It’s the first investment project from a Japanese company in the central city’s park this year. Da Nang will exempt 100 per cent land rent for infrastructure, research, training and housing project. As scheduled, Keiki will invest US$40 million to produce electro-magnetic and hydraulic equipment next year. The city currently has 55 investment projects from Japan, worth nearly $273 million.

Da Nang refuses Coca-Cola factory expansion

The People’s Committee of the central city of Da Nang has refused to permit Coca-Cola Vietnam to undertake its 5,000sq.m production line expansion project. In a meeting with the local administration, Da Nang ’s Vice Chairman Vo Duy Khuong said the city had provided the company an area of 40,000sq.m at a preferential price of 0.647 VND per square metre a year since 2008, but the company had only developed two thirds of it. He said the company should expand the production line on the remaining land.