Da Nang Investment Promotion Programme in 2022
Publish date 02-04-2022 10:37

On 1st March 2022, Da Nang People’s Committee issued Decision No. 593/QĐ-UBND on the Investment Promotion Programme in 2022.

The Programme will include the following contents: the research and assessment of market potentials, trends and investors; building and promoting the city image, its investment policies, potentials and opportunities; guiding, supporting and facilitating the investment activities; building an information system and database for the investment promotion activities; compiling a list of projects calling for investment; making publications and documents for investment promotion activities; training and developing staff capacity in investment promotion; carrying out  domestic and international cooperation activities on investment promotion.

The general orientation of the Investment Promotion Programme in 2022 is to effectively implement the Resolution of the 13th National Party Congress, Resolution No. 50/NQ-CP of the Government dated 20th May 2021 on the Government's action plan to implement the Resolution of the 13th National Party Congress, to improve the efficiency of foreign investment cooperation while giving priority to attracting projects with high technology, modern governance, innovation capacity, linked with the global supply chains, positive spillover effect and closely connected with the domestic economic sector.

At the same time, the Programme aims to effectively implement Resolution of the 22nd Party Congress of Da Nang City for the 2020 - 2025 tenure, whose spotlight is attracting investment to strongly innovate the growth model and restructure the economy, with concentration on strongly developing high-tech industry and information technology, associated with developing the city into an innovative start-up hub and a smart city, and creating a foundation to promote the development of new fields, especially digital economy, digital society and digital government.

Besides, it’s expected to boost the investment promotion and the economic recovery after COVID-19 epidemic by stimulating online investment promotion activities, continuing to attract investment from traditional and potential markets such as Japan, Korea, Singapore and the United States, supporting enterprises which disconnect with the supply chains and are in shortage of labour, speeding up the disbursement of public investment funds to enhance the aggregate demand in the short term and create the drivers of growth to the economy after being slowed down by the COVID-19 epidemic, attracting investors in important fields, and helping Da Nang to build a highly adaptive and resilient economy in a complex and unpredictable world.

The investment promotion activities will be implemented in accordance with Resolution No. 50-NQ/TW dated 20th August 2019 of the Politburo on orientations to perfect institutions and policies, to improve the quality and efficiency of foreign investment cooperation by 2030, and Plan No. 2905/KH-UBND dated 5th May 2020 of the Da Nang People’s Committee on the implementation of Programme No. 40-CTr/TU dated 31st January 2020 of the Municipal Party Standing Committee on implementing the theme “Innovating the growth model, bringing into play new driving forces; promoting investment attraction and the effective use of investment resources, prioritizing the key investors”. Accordingly, the city will actively look for potential projects for further investment promotion activities and investment licensing in the following years.

It should be focused on calling for investment in fields that serve the purpose of developing Da Nang into one of the major socio-economic centers of the country and in Southeast Asia, and a worth-living city in Asia, in accordance with the Politburo’s Resolution No. 43-NQ/TW regarding the city’s progress by 2030 with a vision toward 2045. The priority is to attract FDI in Industry 4.0 such as information and communications technology, digital technologies, nanotechnology, biotechnology, and material sciences, high-tech industries and supporting industries. Priority is also given to investment promotion in agricultural production towards high efficiency, technology application and sustainable development, and investment attraction in high-quality service industries to speed up economic restructuring and build Da Nang into an environmental city.

The Investment Promotion Programme in 2022 has 7 purposes: (1) Effectively implementing the 2022 theme “The year of safe and flexible adaptation to and effective control of COVID-19 and economic recovery and development”; preventing and controlling the COVID-19 epidemic while promoting investment attraction, removing difficulties, stimulating business and production activities to quickly recover the economy; speeding up the key projects and accelerating the disbursement of public investment; ensuring the public security, the lives and peaceful livelihood of the people; (2) Building a highly competitive investment environment, making use of the city’s varied potentials in terms of infrastructure, policies, natural resources, human resources to attract investors; focusing on the traditional markets simultaneously with looking for new potential investment markets; (3) Concentrating the resources on calling for investment for the economic recovery after COVID-19, boosting the production and business activities, reaching the goals of economic growth, gross output, export turnover, budget revenue, labor and employment settlement; (4) Meeting the needs of investors in terms of mechanism, infrastructure and human resource;

(5) Constantly innovating and diversifying the investment promotion and support activities to achieve great results, such as increasing online investment promotion activities, taking advantage of established international cooperation relations; (6) Researching and enhancing regional economic linkages, especially in the high-tech industries; focusing on developing Da Nang Hi-tech Park in sync with Hoa Lac Hi-tech Park (Ha Noi) and Saigon Hi-tech Park (Ho Chi Minh City), making it the nucleus of socio-economic development of the Central and Central - Highland Region; developing the Centralized Information Technology Park (phase 1) and software parks; (7) Securing the success of investment promotion activities in bringing sustainable economic development correlating with social and environment, while guaranteeing national defense and security.

Funding for the Programme is allocated from the state budget (assigned to the investment promotion units by the competent authority as stated in the estimate of 2022) and additionally mobilized from other organizations, associations, enterprises and investors in accordance with the law.

The Da Nang Department of Planning and Investment will be the focal body to assist the City People's Committee in undertaking the state management over investment promotion activities in Da Nang, and be responsible for inspecting and supervising the implementation of the Investment Promotion Programme.

After being approved by the City People’s Committee, the Da Nang Investment Promotion Agency will be in charge of the implementation of the Programme. The agency will be responsible for organizing investment promotion activities stated in the approved Programme; actively seeking and carrying out investment promotion activities with funds outside the state budget; synthesizing and reporting to the City People's Committee every 6 months and annually on the implementation of the Programme; submitting reports about investment promotion on the National Investment Information System; carrying out and proposing the City People's Committee to adjust, amend and solve problems arising during the implementation process; finalizing the budget for organizing investment promotion activities in accordance with the current laws.

The Department of Finance will appraise and advise the City People's Committee to arrange and approve additional funding (if necessary) and finalize the budget for the implementation of the Investment Promotion Programme in 2022.

The Department of Foreign Affairs will cooperate with the Investment Promotion Agency and relevant units to implement the Programme and integrate investment promotion into external activities, support approved overseas investment promotion activities, and finalize the budget for organizing investment promotion activities in accordance with the current laws.

The Da Nang Hi-Tech Park and Industrial Zones Authority, the Department of Industry and Trade, and the Department of Science and Technology will assume the prime responsibility for and coordinate with relevant departments and agencies in organizing investment promotion activities according to the approved Programme, actively seek and carry out investment promotion activities with funds outside the state budget.