Representatives from international organizations attending the Da Nang Investment Forum 2022 on June 25 agreed that the central city has the potential to become an effective model of investment promotion.

According to Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam, H.E. Yamada Takio, Japan-Vietnam relations are developing in the field of investment. Summit meetings in November 2021 and May 2022 confirmed that Japanese businesses are enthusiastic about investing in Vietnam, even as Covid-19 lingers.

Ambassador Takio told the gathering that Da Nang city is focusing on attracting businesses to priority development areas such as high-tech and information technology. He added that Japanese enterprises have invested in these areas, such as Fujikin, a semiconductor valve manufacturing company that is building a Research, Development, and Production Center expected to be completed this year.

The Ambassador also said he hopes that Da Nang authorities will continue to listen to Japanese businesses investing in the city so it can become even more attractive.

There are some 216 investment projects from Japan in Da Nang, with total capital of nearly $800 million.

According to Ms. Carolyn Turk, World Bank Country Director for Vietnam, Da Nang’s strategic location on key international sea and air routes offers it the opportunity to develop strongly.

She said the city has the potential to be an effective model of investment promotion. In addition to its success in attracting FDI and ODA, it can further diversify financial resources for development.

Ms. Turk also believes that a continued strong economy, an improved business and investment environment, as well as transparent, disciplined, and efficient fiscal management are key factors that need to be managed to achieve a good credit rating for the city.