The People's Committee of central Da Nang City has approved the investor for a project to build infrastructure in the Hoa Ninh Industrial Park, which covers an area of 400ha  in Hoa Ninh commune, Hoa Vang district, Da Nang.

The project boasts a total investment capital of over VND6.2 trillion (nearly $243 million), according to a report from Radio the Voice of Vietnam.

The basic construction and commissioning of the project are slated for completion and operational status within 42 months from the date of land handover by the State.

In December 2024, the Prime Minister approved the investment policy for the Hoa Ninh Industrial Park. The Prime Minister then assigned the People's Committee of Da Nang City to select an investor for the project in accordance with regulations.

The project's operating term extends to 50 years, starting from the date of the land lease by the State. The municipal People's Committee is set to hold a launching and commencement ceremony for this project on February 18.