He said the park is also keen on attracting more investors from Thailand.

 

Viet said the park has completed the first stage development of 300ha and started construction of the second stage with an investment of VND363 billion (US$16 million) on the 1,010-hectare park in Hoa Vang District, 20km west of the city.

 

The park was designed as a hub for green and high-tech investors.

 

Last week, it granted an investment certificate to the U&I Logistics Joint Stock Company for its logistics project with total registered capital of $14 million.

 

Last year, the city granted an investment licence to Da Nang Pharmaceutical Joint Stock Company’s (Danapha) first nano-technology and biotech project, with an investment capital of VND1.5 trillion ($67 million) in the park.

 

Two Japanese companies, Tokyo Keiki Precision Technology Inc and Niwa Foundry, with a total investment of $62 million, were the first investors since the park opened in 2013.

 

Da Nang will exempt 100 per cent land rent for infrastructure, research, training and housing projects.

 

According to the latest reports, Da Nang has attracted 423 foreign direct investment (FDI) projects worth $3.68 billion to date.

 

FDI enterprises in the city earned revenues of $776 million – of which $522 million from exports – and contributed $112 million to the State budget in 2015.