The Da Nang Municipal People's Committee Office has announced that ASCO Industries, a Belgian aeronautics manufacturing enterprise, is preparing to invest $20 million to build an aircraft component manufacturing facility in the central coastal city of Da Nang.
This development follows a bilateral meeting between Chairman of the Da Nang People's Committee Nguyen Manh Hung and Mr. Jerome Morhet, Chief Executive Officer of ASCO Industries, on the sidelines of a high-level dialogue between Party General Secretary and State President To Lam, the high-ranking Vietnamese delegation, and leading European corporate executives in Brussels, Belgium, on October 22.
During their working session, Mr. Hung and the ASCO CEO discussed bilateral investment cooperation and the development of the aerospace manufacturing sector in Da Nang. The Chairman highlighted the city's strategic advantages and orientation toward high-tech industrial growth, underscoring Da Nang’s focus on attracting high-tech, high-value-added projects capable of integrating deeply into global supply chains.
As an aerospace manufacturer specializing in high-precision structural components and assemblies for aircraft manufacturing, ASCO Industries strongly aligns with Da Nang’s foreign direct investment attraction strategy and competitive strengths.
The engagement reaffirms Da Nang’s proactive efforts in international investment promotion to draw capital into high-tech industrial sectors.
Under an agreement signed in July 2026 between ASCO Industries and the Da Nang Hi-Tech Park and Industrial Zones Authority (DSEZA), the company plans to build an aircraft component plant covering 6,000 square meters with an initial capital outlay of $20 million. The investor plans to expand the project in subsequent phases, potentially increasing the total investment to $100 million.
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