Da Nang is emerging as one of the fastest growing startup cities in Southeast Asia. Read more for a breakdown of investment trends and government programs.
Da Nang is among Vietnam’s top locations for foreign investment. Learn which industries are primed for growth and understand how to best structure your setup to tap into these opportunities.
With its burgeoning technology and IT industries and its increasingly attractive business environment, Vietnam’s port of city of Da Nang is well on its way to accomplishing its goal of becoming the Singapore of Vietnam. Over the past five years, the city has undergone a building boom, spending US$4.5 billion on infrastructure projects. Additionally, for eight years in a row, the city has been top ranked in the Vietnam Provincial Competitiveness Index for the categories of good governance and business-friendly policies.
According to Vietnam’s Foreign Investment Agency, FDI approvals for the first 10 months of 2014 are 23.9 percent lower than the same period last year. However, capital disbursements by FDI enterprises have increased 5.9 percent year-on-year (YoY) to a total of US$10.15 billion.
On September 22-26th, Vietnam’s coastal city of Da Nang will host the 9th round of Vietnam-EU free trade agreement (FTA) negotiations. It is hoped that the conclusion of the FTA agreement will allow Vietnam to further penetrate the EU market, as well as attracting further foreign direct investment into the Southeast Asian country.
The city of Da Nang is fast becoming one of the premier destinations in Vietnam for both tourism and foreign direct investment. Seventeen years after the city became an independent municipality, Da Nang has become the third largest economic center and the main commercial and educational center of central Vietnam.
Da Nang City is calling for foreign investment in its hi-tech park by promising attractive incentives.
Vietnam is composed of 63 provinces and five centrally-governed cities, which stand on the same administrative level as provinces (namely Hanoi, Ho Chi Minh City, Can Tho, Da Nang and Hai Phong). The General Statistics Office of Vietnam further groups these provinces and cities into eight regions with three key economic zones.
By Tran Que Chi Mar. 9 – Vietnam’s food processing, software and environmental technology sectors have been labeled as new industries with great potential. Hanoi, Ho Chi Minh City and the Central Highlands in particular have been identified as future centers for the food processing industry, with Da Nang, Hanoi and HCMC expected to become[…..]
Sept. 7 – The country’s flag carrier, Vietnam Airlines, has announced it will slash fares on domestic flights by 50 percent from September 15 to October 30. The heavily discounted rates will include routes coming from the capital, Hanoi and the financial center, Ho Chi Minh City. The discounted prices will range from VND400,000 to[…..]