Da Nang calls for investment from Samsung Vietnam

DNHN - The central city of Da Nang will offer the most favourable conditions for Samsung to expand cooperation and investment in the city and central Viet Nam.

The city’s Party secretary Nguyen Van Quang made the remarks in a meeting with the General Director of Samsung Vietnam Choi Joo Ho during a visit to Da Nang on April 1.

Quang said Samsung Vietnam had invested in the north and south of Viet Nam but not yet in central provinces and cities.

He expects Samsung Vietnam to eye investment in high-tech and information technology and software parks in Da Nang, where infrastructure is available for investors.

Choi Joo Ho said Samsung Vietnam had built six plants, including two smartphone factories in Bac Ninh and Thai Nguyen provinces, and an R&D centre and a home electronic appliance manufacturing factory in Ho Chi Minh City since it set up investment in Vietnam in 2008.

He asked Da Nang to support Samsung Vietnam’s trading activities in the city, including the 5G network project.

Local telecommunication developer Viettel, in cooperation with Samsung Vietnam, launched a pilot 5G network project in Da Nang last December – a base for building Da Nang as a ‘smart’ city by 2025.

Da Nang has been calling for investment in information and communications technology (ICT) from the Republic of Korea - one of five top foreign investors in the city - with 233 projects worth 378 million USD.

The city had made ICT infrastructure available to Korean investors for post-COVID-19 economic recovery.

The RoK’s LG Electronics began construction of its R&D centre – the second in Viet Nam – in Da Nang last year.

The leading Korean hospitality corporation, Shilla Hotels & Resorts, debuted the Shilla Monogram Quang Nam-Da Nang resort on the beach of Quang Nam and Da Nang, with a total investment of 50 million USD.

Before the pandemic, local and Korean airlines hosted 214 direct and chartered flights and carried 1.5 million tourists to the central city (50 percent international visitors) per week.

Flights between Da Nang and the RoK are planned for reopening in the second quarter of 2022.

In 2020, the Consulate General of the Republic of Korea was opened in Da Nang, boosting investment and trade between the RoK and central Viet Nam.

The Korea Trade and Investment Agency also opened its office in Da Nang to promote investment and connection among Korean investors.

Six industrial zones and a high-tech park in Da Nang drew 503 projects, including 130 FDI worth 1.8 billion USD and 27.56 trillion VND (1.2 billion USD), respectively, from domestic investors.

Source: VNA