Prime Minister Nguyen Xuan Phuc addresses the business forum "Invest in Da Nang" (Photo: VNA)Da Nang (VNA) -While successfully hosting the upcoming 2017 APEC Economic Leaders’ Week, DaNang should spare no effort to become the most livable city in the country, amust-visit tourism destination and a major investment attraction, PrimeMinister Nguyen Xuan Phuc said on October 15.
PM Phuc was addressing abusiness forum “Invest in Da Nang” held in the central city on October 14 and15 as a prelude to the APEC Economic Leaders’ Week scheduled to take place fromNovember 6-11. The week is expected to be the largest event of its kind in thecity’s history.
PM Phuc said the weekshould be an unforgettable memory for APEC member economies, emphasising thatit was a great opportunity for the city to promote itself and the country as awhole.
[Da Nang completes logistics preparations for APEC week]
The 2017 APEC EconomicLeaders Week will be a positive introduction of Da Nang as a young and dynamiccity in central Vietnam, and an attractive location top world investors, hesaid.
He also had a word ofcaution: “Da Nang should strive to boost growth as a key city and driving forcefor the coastal central region in the years to come. If it does not do so, itwill be replaced by Khanh Hoa or Quang Nam in the driving seat of the regionaleconomy.”
The PM said the city needsmore drastic and powerful actions to fulfill its potential as a regionalmetropolis, a smart city, one of three key cities in the country alongsideHanoi in the north, HCM City in the south.
He suggested Da Nang shouldreform its institutions and promote transparency to create more favourableconditions for both domestic and foreign investors. This would help it win thetrust of both investors and residents, he said.
The PM also said the cityadministration has to commit to protect investors’ assets at any risk, whileimproving land procedures, public service and competitiveness.
Achieving the satisfactionof residents and businesses with supportive policies will facilitate positiveevaluation of the local government, he said.
He asked the city to speedup construction of infrastructure projects and step up co-operation with theneighbouring provinces of Quang Nam, Quang Ngai and Thua Thien-Hue toaccelerate the economic growth in the region.
Da Nang should open directflights to Europe and the US in the near future, he said.
Also on October 15, thecity administration, in co-operation with bankers, presented investmentcertificates, loan agreements and pre-feasibility studies for 27 projects worth1.56 billion USD in sea port, education, solar power, high-tech industries,logistics, tourism property, hi-tech farming, hibiscus wine and rice milk,international hospital, pharmaceuticals and industrial production.
Chairwoman and CEO ofSovico Holdings Company Nguyen Thi Phuong Thao said Da Nang had caught theimagination of her company in an initial investment study done in 2002.
“The positive support andsmooth administrative procedures as well as incentive policies in landclearance and land rent attracted us. We decided to buy the five-star Furama DaNang resort as our long-term commitment to the city,” Thao said at the forum.
Thao, who is also owner ofthe budget airline Vietjet Air, the HCM City-based HD Bank, said with supportfrom the city, her company was able to complete the Ariyana Da Nang Exhibition& Convention Centre on schedule.
She also said HD Bank hasprovided loans worth 2.6 trillion VND (115 million USD) to 560,000 businessesand individuals in Da Nang and the central region.
Director of property developerSun Group, Dang Minh Truong, said the newly-launched Ba Na Hills Golf course inDa Nang has attracted 2.6 million tourists and golfers, while theIntercontinental Da Nang Sun Peninsula resort has been selected as a site tohost the APEC Economic Leaders’ Meeting.
At the two-day businessforum, which drew 800 businesses and organisations, Da Nang also called forinvestments in some key Public-Private-Partnership (PPP) projects including theLien Chieu sea port, dismantling of a railway station, urban resettlement, twonew industrial parks, solid waste treatment, wastewater treatment and cleanwater supply, fishing ports and fisheries logistics, smart traffic systems, aharbour for cruise ships, information technology and communications, with totalproposed investment of 1.4 billion USD.
The city also urgedinvestors to pour funds into the 33km tram route connecting Da Nang and Hoi An cityin Quang Nam province with an estimated investment of 300-660 million USD.
Vice Chairman of the city’sPeople’s Committee Ho Ky Minh said the city currently has 408 domestic projectsworth 4.5 billion USD, and 525 foreign direct investment (FDI) projects worth 3billion USD.
Minh said Da Nang plans tobe a regional hub for urbanisation, tourism and hi-tech growth.
He said the city offersrent-free land for environmental projects or 13-19 years land tax exemption forhigh-tech industries, while software exporters are supported with tradepromotions, preferential taxation and human resources training subsidies.
Chairman of the VietnamChamber of Commerce and Industry (VCCI) Vu Tien Loc said 51 percent of foreigninvestors in a recent survey selected Da Nang as their preferred investmentdestination, citing good and flexible governance.
Loc, however, warned that33 per cent of FDI businesses still complained of complicated land procedures,while 40 percent said they found difficulties in accessing bank loans.
Da Nang also plans to buildthe Lien Chieu Port as a logistics hub for the ASEAN region and the East-WestEconomic Corridor (EWEC) that links Laos, Myanmar, Thailand and Vietnam.
In 2013, the World Bankapproved a 272.1 million USD sustainable development project for the city, ofwhich 202.4 million USD is to be provided by the bank. The project is expectedto make Da Nang a ‘green city’ by 2025.-VNA
The 2017 APEC EconomicLeaders Week will be a positive introduction of Da Nang as a young and dynamiccity in central Vietnam, and an attractive location top world investors, hesaid.
He also had a word ofcaution: “Da Nang should strive to boost growth as a key city and driving forcefor the coastal central region in the years to come. If it does not do so, itwill be replaced by Khanh Hoa or Quang Nam in the driving seat of the regionaleconomy.”
The PM said the city needsmore drastic and powerful actions to fulfill its potential as a regionalmetropolis, a smart city, one of three key cities in the country alongsideHanoi in the north, HCM City in the south.
He suggested Da Nang shouldreform its institutions and promote transparency to create more favourableconditions for both domestic and foreign investors. This would help it win thetrust of both investors and residents, he said.
The PM also said the cityadministration has to commit to protect investors’ assets at any risk, whileimproving land procedures, public service and competitiveness.
Achieving the satisfactionof residents and businesses with supportive policies will facilitate positiveevaluation of the local government, he said.
He asked the city to speedup construction of infrastructure projects and step up co-operation with theneighbouring provinces of Quang Nam, Quang Ngai and Thua Thien-Hue toaccelerate the economic growth in the region.
Da Nang should open directflights to Europe and the US in the near future, he said.
Also on October 15, thecity administration, in co-operation with bankers, presented investmentcertificates, loan agreements and pre-feasibility studies for 27 projects worth1.56 billion USD in sea port, education, solar power, high-tech industries,logistics, tourism property, hi-tech farming, hibiscus wine and rice milk,international hospital, pharmaceuticals and industrial production.
Chairwoman and CEO ofSovico Holdings Company Nguyen Thi Phuong Thao said Da Nang had caught theimagination of her company in an initial investment study done in 2002.
“The positive support andsmooth administrative procedures as well as incentive policies in landclearance and land rent attracted us. We decided to buy the five-star Furama DaNang resort as our long-term commitment to the city,” Thao said at the forum.
Thao, who is also owner ofthe budget airline Vietjet Air, the HCM City-based HD Bank, said with supportfrom the city, her company was able to complete the Ariyana Da Nang Exhibition& Convention Centre on schedule.
She also said HD Bank hasprovided loans worth 2.6 trillion VND (115 million USD) to 560,000 businessesand individuals in Da Nang and the central region.
Director of property developerSun Group, Dang Minh Truong, said the newly-launched Ba Na Hills Golf course inDa Nang has attracted 2.6 million tourists and golfers, while theIntercontinental Da Nang Sun Peninsula resort has been selected as a site tohost the APEC Economic Leaders’ Meeting.
At the two-day businessforum, which drew 800 businesses and organisations, Da Nang also called forinvestments in some key Public-Private-Partnership (PPP) projects including theLien Chieu sea port, dismantling of a railway station, urban resettlement, twonew industrial parks, solid waste treatment, wastewater treatment and cleanwater supply, fishing ports and fisheries logistics, smart traffic systems, aharbour for cruise ships, information technology and communications, with totalproposed investment of 1.4 billion USD.
The city also urgedinvestors to pour funds into the 33km tram route connecting Da Nang and Hoi An cityin Quang Nam province with an estimated investment of 300-660 million USD.
Vice Chairman of the city’sPeople’s Committee Ho Ky Minh said the city currently has 408 domestic projectsworth 4.5 billion USD, and 525 foreign direct investment (FDI) projects worth 3billion USD.
Minh said Da Nang plans tobe a regional hub for urbanisation, tourism and hi-tech growth.
He said the city offersrent-free land for environmental projects or 13-19 years land tax exemption forhigh-tech industries, while software exporters are supported with tradepromotions, preferential taxation and human resources training subsidies.
Chairman of the VietnamChamber of Commerce and Industry (VCCI) Vu Tien Loc said 51 percent of foreigninvestors in a recent survey selected Da Nang as their preferred investmentdestination, citing good and flexible governance.
Loc, however, warned that33 per cent of FDI businesses still complained of complicated land procedures,while 40 percent said they found difficulties in accessing bank loans.
Da Nang also plans to buildthe Lien Chieu Port as a logistics hub for the ASEAN region and the East-WestEconomic Corridor (EWEC) that links Laos, Myanmar, Thailand and Vietnam.
In 2013, the World Bankapproved a 272.1 million USD sustainable development project for the city, ofwhich 202.4 million USD is to be provided by the bank. The project is expectedto make Da Nang a ‘green city’ by 2025.-VNA
VNA
