Home » Investment » Japanese businesses heavily invest in Da Nang

Named as one of the top five foreign investors in the central city of Da Nang, Japan now has more than 90 businesses and representative offices operating in the city with investment exceeding 370 million USD, equivalent to 30 percent of the locality’s total inflow of foreign investment.

In the first nine months of this year, the city gave permission for five Japanese investment projects worth a total of 31.4 million USD.

Generating jobs for around 30,000 labourers, Japanese firms in the city are on the whole operating effectively and contribute greatly to the local budget and the city’s annual average growth rate of 11 percent.

Now, the Japanese enterprises, specialising in the fields of paper, seafood and agricultural product processing, the restaurant business, electronic components and software outsourcing, are moving their investments towards high technology and quality services.

Besides investing on their own, the foreign firms have encouraged others to enter the city.

Specifically, in addition to its 40 million USD investment in the Da Nang High-Tech Park, the Tokyo Keiki Incorporation urged Niwachuzo Company to pour 22 million USD into the park.

The aforesaid ventures signal the beginning of a strong wave of investment from Japanese firms in the city, which also helps the locality attract investment from other foreign enterprises.

To accelerate foreign investment, the city now has four Japanese training centres and hundreds of university undergraduates studying the Japanese language, along with nine restaurants serving Japanese dishes.

In fact, Japanese investment is concretised by the efforts and commitments of Japanese representative agencies and firms in Vietnam.

Japanese corporations and businesses always choose Da Nang as a crucial investment partner as it meets the firms’ requirements for a favourable investment climate, socio-economic conditions and facilities, said former Japanese Ambassador to Vietnam Yasuaki Tanizaki during his Da Nang visit in August.

In further improving its investment environment, the city has held several conferences in the Japanese cities of Tokyo and Osaka, aiming to attract more investment from the country’s companies in its high-tech zone in the time to come.

Japanese firms seeking investment opportunities in Da Nang are able to invest in the electricity industry, electronics, optical and communication technologies, manufacturing machinery, nanotechnology and medical equipment.-VNA

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