Da Nang High-Tech Park tries to attract more investment

(VOVWORLD) - After 7 years in operation, Da Nang High-Tech Park is one of 3 high-tech parks in Vietnam receiving the government’s especially preferential treatment to lure greater investment. The park aims to promote technological innovation, technology incubators, and science and technology market development for the central and central highlands regions.
Da Nang High-Tech Park tries to attract more investment - ảnh 1Japan’s Tokyo Keiki Precision Technology in Da Nang High-Tech Park was inaugurated (Photo: baogiaothong.vn)

The government and Da Nang municipal administration have invested nearly 84 million USD in upgrading Da Nang High-Tech Park’s infrastructure.

Covering more than 400 hectares, Da Nang Hi-Tech Park currently houses 10 projects with a total investment capital of 250 million USD, 3 of them are 100% foreign invested projects.

Doan Ngoc Hung Anh, Deputy Director of the Park’s Management Board, said since the beginning of this year an increasing number of domestic and foreign investors has visited the park to seek investment opportunities thanks to the government’s especially preferential policy and the successful organization of the APEC Leaders’ Week 2017.

Mr. Hung Anh said: “We are outlining a plan to accelerate investment attraction and introduce the park on media overseas. We have met potential investors and introduced them to our preferential policies. During APEC Leaders’ Week in Da Nang, we had an opportunity to connect with a number of investors. A big investment project is likely and if it’s successful, it will create a momentum for the development high-tech parks in Da Nang.”

Da Nang Hi-tech Park is one of 3 key national hi-tech parks together with Hoa Lac Hi-Tech Park in Hanoi and Ho Chi Minh City Hi-tech Park to enjoy the government’s preferential treatment in investment attraction. New investment projects in these parks will be completely exempted from land lease fees for the project’s entire duration and from the compensation for land clearance. The projects that are worth 132 million USD or more will be entitled to a preferential tax rate of 10% for 30 years, exemption of corporate income tax and tax reduction and exemption for import goods.

Da Nang High-Tech Park tries to attract more investment - ảnh 2A 100% foreign invested project in Da Nang High-Tech Park (Photo: vov .vn) 

Overseas Vietnamese investors, experts, and workers or foreigners working directly in the park and their family members including parents, spouses, offspring or adopted children under 18 years old  will be likely granted with multiple entry visas or visas with validity suitable with entry purposes.

Huynh Duc Tho, chairman of Da Nang People’s Committee, said: “The directions are correct and efficient. They will bring in a great source of revenue, especially create a high skilled workforce and help the city grow rapidly in many aspects.”

Following the success of the APEC Economic Leaders’ Week 2017, this year Da Nang will continue to prioritize funding infrastructure improvement, connect transportation routes within the high-tech park, put into operation bus routes from the city center to the hi-tech park, and build houses for workers and kindergartens for their children. In its development plan, Da Nang identifies IT and tourism its top priorities.