Introduction to the investment environment of Da Nang City for overseas Vietnamese

DNHN - To promote overseas Vietnamese resources for the socio-economic development of Da Nang city, in which to strengthen activities to attract investment from overseas Vietnamese for the city of Da Nang, the People's Committee of Da Nang city coordinated with the State Committee on Overseas Vietnamese - Ministry of Foreign Affairs and the Committee on Overseas Vietnamese in Ho Chi Minh City held a seminar to introduce the investment environment of Da Nang city towards overseas Vietnamese", on August 12, 2022.

The seminar was attended by Mr Ho Ky Minh - Vice Chairman of Da Nang People's Committee, Mr. Ngo Huong Nam - Vice Chairman of the State Committee for Overseas Vietnamese, Ministry of Foreign Affairs, Mr. Phung Cong Dung – Chairman of the Committee on Overseas Vietnamese in Ho Chi Minh City; representatives of leaders of many departments of the two localities of Ho Chi Minh and Da Nang; 60 overseas Vietnamese businesses and businesses of two localities attended in the form of direct, media agencies in Ho Chi Minh.

In addition, the seminar also received the attention of Vietnamese associations, entrepreneurs and businesses abroad attending online on the Zoom platform from 19 countries and territories in the United States, Canada, Japan, Korea, China, Taiwan, Australia, Germany, Russia, Poland, Slovakia, UK, France, Italy, Belgium, Switzerland, Hungary, Thailand, Mongolia.

At the seminar, the People's Committee of Da Nang city introduced to businesses the fields of investment attraction, investment incentive policies and key projects calling for an investment in Da Nang city; Overseas Vietnamese businesses in Da Nang share their feelings and experiences when investing in this locality.

Speaking at the opening of the program, Mr Ho Ky Minh - Standing Vice Chairman of the City People's Committee: “Over the years, the city has gradually mobilized overseas Vietnamese experts and intellectuals to participate in programs and projects in many fields, serving as a bridge to promote cooperation. To contribute to attracting investment from overseas Vietnamese into the city, the city has organized to welcome and work with overseas business delegations come to learn about the investment environment; connect businessmen of the city with overseas businessmen; enlist the support of expatriates to organize domestic and foreign investment promotion events, enhance information about guidelines and policies of the Party, laws of the State and policies and fields of investment attraction of the city to the overseas community".

As a coastal city, with an important geographical position, Da Nang has been identified as the economic, political and cultural centre of the central region of Vietnam, the gateway to the Central region and from there to other localities in the region as well as neighbouring countries through a well-developed infrastructure system. Regarding development orientation to 2030, with a vision for 2045, Da Nang has determined to become a large, ecological and smart city, a centre for entrepreneurship, innovation and a livable coastal city.

Investment of overseas Vietnamese in Da Nang tends to increase, and the scale of projects is increasingly expanding and developing, making an important contribution to the city's socio-economic development, and at the same time affirming the trust of overseas Vietnamese towards the Party and State's guidelines and policies, and the efforts and companionship of the city government. However, the number of investment projects from overseas Vietnamese in Da Nang city is still not commensurate with the potential and strengths of the city and the growth of the overseas Vietnamese community around the world.

To attract overseas Vietnamese resources to contribute to the construction of the homeland and the country, the Da Nang City People's Committee cooperates with the State Committee on Overseas Vietnamese and the Committee on Overseas Vietnamese in Ho Chi Minh City held a seminar to introduce the investment environment of Da Nang city towards overseas Vietnamese in 2022. "This is the first time the city has organized a big event on investment promotion exclusively for We believe that the seminar will be an opportunity for Da Nang city to share more about the policy of attracting investment to Vietnamese businesses abroad; thereby I hope that more and more overseas Vietnamese businesses choose Da Nang as a stopover for investment and business and as a bridge to support the city to connect with foreign investors around the world." - Mr Ho Ky Minh shared.

Speaking at the conference, Mr Phung Cong Dung - Chairman of the Committee on Overseas Vietnamese in Ho Chi Minh City. Ho Chi Minh affirmed: Our compatriots abroad have become more and more important resources contributing to the development of the country, both in terms of economic resources, knowledge and "soft" resources contributing to the country's national brand and a bridge to establish friendly relations between Vietnam and other countries, especially people-to-people diplomacy between localities of Vietnam and localities of other countries.

At the seminar, the City People's Committee in Da Nang introduced to businesses the fields of investment attraction, investment incentive policies and key projects calling for an investment in the city. Danang. Which, invites overseas Vietnamese businessmen to invest in 7 key projects such as Lien Chieu Port Project; a complex of financial, commercial, entertainment, casino and high-class apartment buildings; Danang Creative Space Project; the project of the International Trade Center; an international hospital project; Nursing home project and International School Project.

Vinatech Connect Company has been operating in Da Nang city for nearly 10 years. In the last 3 years, the company has brought 7 large manufacturing companies abroad to Vietnam to survey and set up manufacturing companies and 3 companies have entered Vietnam to operate, creating thousands of jobs for people and ancillary businesses.

Mr Bao Hoa - Representative of Vinatech Connect Company, expressed the reason why the company chose Da Nang as its operating location because of the impression of a "one-stop" system that is effective for the city and businesses. Besides, means of transport and transportation from industrial zones to international seaports are very quick and convenient. The COVID-19 pandemic has also caused human resources in fields such as tourism, restaurants, and hotels to switch to the manufacturing sector. Da Nang has opened its arm to welcome a very large number of city workers back during the epidemic. This is a favourable time to bring an abundant source of production labour to enterprises investing in production in Da Nang.

As an investor and currently living in Da Nang for more than 12 years, Mr Bao Hoa believes that Da Nang is a great choice for investor families and professionals when coming to work and live here. Da Nang meets all needs from life, employment, and entertainment, to domestic and international education programs.

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