Central Da Nang City is developing three new industrial parks to create land availability for businesses and boost investment attraction, the national radio broadcaster Voice of Vietnam reported.

Currently, Da Nang has six industrial parks, one concentrated information technology park, and one high-tech park, with a total area of approximately 2,300 ha. The occupancy rate in these industrial parks is 88%.

These six industrial parks have only about 70 ha of land available for lease, mainly in Lien Chieu Industrial Park and Hoa Cam Industrial Park Phase 1. However, the land lease term in Lien Chieu Industrial Park is only over 20 years, while projects entering the industrial park require longer lease terms.

Faced with this situation, the Da Nang City People's Committee has decided to invest in three new industrial parks with a total area of approximately 700 ha, including Hoa Ninh Industrial Park, Hoa Cam Industrial Park Phase 2, and Hoa Nhon Industrial Park.