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Tuesday, June 25, 2024

Japan remains Danang’s largest investor

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DANANG – Japan took the lead in pledged investment in Danang as of this November, with 213 projects worth over US$917 million in registered capital, accounting for 25% of the total number of foreign-invested projects and over 23% of foreign capital in this central coastal city.

These projects are mostly in the fields of production, information and technology, processing and manufacturing industries, said a representative of the Danang Investment Promotion Agency (IPA Danang), after IPA Danang and the Japanese Chamber of Commerce and Industry in Danang jointly held an event on December 16 to introduce Vietnamese law to Japanese investors.

Findings of the Saigon Times indicated that many Japanese companies with various business scales have eyed investments in the city.

For instance, Daiwa Vietnam Co., Ltd began construction on a sports equipment factory worth US$40 million at the Hoa Khanh Industrial Park in the city on December 15.

Earlier, on October 13, DHPIZA introduced a plot of land at the Danang Industrial Park to Japan’s Fujikin Group to develop the Fujikin Danang Research and Development Center project, which requires US$35 million in investment. The project is aimed at developing hi-tech products such as AI-powered drones and robots.

Moreover, this year, Long Hau JSC signed a contract to lease a factory to Hatsuta Automatic Safety Solutions Company, a Japanese manufacturer and assembler of fire-fighting and pressure measurement devices.

At a recent meeting, a number of Japanese investors revealed that many companies in Japan are interested in the investment environment in Danang, which is calling for investments in hi-tech, environmental and educational projects. They suggested the central city should increase the number of high-quality employees so Japanese firms can prioritize choosing the city as an investment destination.

By Nhan Tam

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