Spanish businesses surveyed and learnt about Da Nang investment environment
Publish date 13-04-2022 10:37

On April 6, Da Nang Investment Promotion Agency coordinated with relevant departments and agencies to organize the “Spanish business networking event”. Attending were the Spanish Economic and Commercial Counselors, representatives of Iberdrola, Siemens Gamesa, Indra, Meliá, and La Liga.

Overview of the meeting

At the meeting, Deputy Director of the Investment Promotion Agency Do Thi Quynh Tram introduced about Da Nang investment environment; at the same time, she affirmed that the city would always best facilitate Spanish businesses to seek cooperation and investment opportunities in the fields of IT, high technology, logistics, supporting industries, tourism, commerce, and finance. Da Nang always accompanies and fulfills its responsibilities to investors, promptly supports to remove difficulties during project implementation and operation. At the same time, the city also hopes the Spanish counterparts would assist in accessing ODA in the fields of climate change response, environmental pollution treatment, and community health.

Spanish businesses and investors introduced their strengths, specifically: clean energy production, digital transformation, information technology consulting, high-tech application in transportation, etc. Spanish investors expressed their interest in projects such as “Da Nang - Hoi An (Quang Nam) fast transportaton”, “the promotion of the values of sport in general and football in particular in the region”, “cooperation opportunities in the electricity industry”, etc.

Mr. Nestor Santos Franco, representative of Spain’s Economic and Commercial Counselor, said that Spain has strengths in areas of cooperation with Da Nang, such as green agricultural technology, logistics, renewable energy, environment, and information and communication technology.

Mr. Jose Sanchez- Barroso Gonzalez, Honorary Deputy Consul of Spain in Da Nang, said that Spanish businesses’ survey program to learn about the investment and business environment is a good opportunity for Da Nang to introduce potentials, advantages, and investment incentive mechanisms and policies.

The diplomatic relation over the past 45 years and the Viet Nam - Spain strategic partnership have been promoted in many fields, especially economic. Regarding investment, as of August 2021, Spain had 82 projects with a total capital of more than 134 million USD, ranking 46th out of 140 countries and territories investing in Viet Nam. Currently, there are 8 Spanish investment projects operating in Da Nang with a total investment capital of nearly 643,000 USD.

Spanish businesses interested in exploring opportunities for cooperation and investment in the tourism industry in Da Nang

In 2021, export turnover from Da Nang to Spain was estimated at 4.5 million USD. Import turnover from Spain was estimated at 4 million USD. Main export items are garment products, aquatic products, children’s toys, and handicrafts. Main import items are medicines, chemicals, and spare parts. Some Da Nang enterprises have import-export relations with Spain: Hoa Tho Textile and Garment JSC, D&N Food Processing Co., Ltd., Matrix Mfg. Vietnam Co., Ltd., etc.

Nearly 70% of Spain’s exports are exported to the Asian market, the main export items are agricultural products, cars, etc. Spain considers tourism as the main investment industry of this country.