Da Nang city in central Vietnam is actively seeking potential investors to invest in its Hi-Tech Park, with a particular focus on the semiconductor industry. The Da Nang Hi-Tech Park and Industrial Zones Authority (DHPIZA) is hopeful that approximately 50% of foreign direct investment (FDI) businesses in the park this year will be semiconductor companies.
In 2023, the DHPIZA attracted nearly $260 million USD of investment into the Hi-Tech Park, and it anticipates facing various challenges in 2024 and beyond. However, the authority remains optimistic that companies planning to invest in Da Nang are closely studying the local market and will make decisions within the next year.
According to DHPIZA Director Vu Quang Hung, the semiconductor industry is one of the sectors benefiting from preferential treatment at the Hi-Tech Park. The authority has implemented favorable policies for three industries, namely semiconductors, high-quality healthcare, and aerospace. Furthermore, the DHPIZA is committed to assisting all investors by providing support in terms of administrative procedures, time, and coordination with local departments to help them understand the local market.
Hung revealed that Foxlink, a Taiwanese company, is planning to invest $400 million USD in the second phase of its electronics factory in 2024. Additionally, ICT Vina Co. Ltd, a company from South Korea, will invest around $277 million USD in its project at the Da Nang Hi-Tech Park. Several other semiconductor businesses from Taiwan and Japan are also considering investing in the city.
The DHPIZA expects a significant increase in semiconductor investments this year, aiming to attract about 50% of FDI businesses in the park. In response to this potential, Secretary of the municipal Party Committee Nguyen Van Quang has urged the DHPIZA to focus on attracting investment in the electronics, semiconductor, and medical equipment industries. Da Nang is currently reviewing the zoning plan of the Hi-Tech Park to accommodate future investors and ensure the successful expansion of the park in its second phase.
Frequently Asked Questions (FAQs) about Hi-Tech Park Investment in Da Nang, Vietnam
Q: What is the focus of investment in Da Nang’s Hi-Tech Park?
A: The Hi-Tech Park in Da Nang, Vietnam is actively seeking potential investors, with a particular focus on attracting companies in the semiconductor industry.
Q: What is the goal of the Da Nang Hi-Tech Park and Industrial Zones Authority (DHPIZA)?
A: The DHPIZA aims to attract approximately 50% of foreign direct investment (FDI) businesses in the park to be semiconductor companies.
Q: How much investment did the DHPIZA attract in 2023?
A: In 2023, the DHPIZA attracted nearly $260 million USD of investment into the Hi-Tech Park.
Q: What challenges does the DHPIZA anticipate in the future?
A: The DHPIZA anticipates facing various challenges in 2024 and beyond but remains optimistic that companies studying the local market will make investment decisions within the next year.
Q: Which industries are benefiting from preferential treatment at the Hi-Tech Park?
A: The three industries receiving favorable policies at the Hi-Tech Park are semiconductors, high-quality healthcare, and aerospace.
Q: What support does the DHPIZA provide to potential investors?
A: The DHPIZA is committed to assisting all investors by providing support in terms of administrative procedures, time, and coordination with local departments to help them understand the local market.
Q: Which companies are planning to invest in Da Nang’s Hi-Tech Park?
A: Foxlink, a Taiwanese company, is planning to invest $400 million USD in the second phase of its electronics factory in 2024. ICT Vina Co. Ltd, a company from South Korea, will invest around $277 million USD in its project at the Da Nang Hi-Tech Park. Other semiconductor businesses from Taiwan and Japan are also considering investing in the city.
Q: What is the expectation for semiconductor investments in the Hi-Tech Park this year?
A: The DHPIZA expects a significant increase in semiconductor investments this year, aiming to attract about 50% of FDI businesses in the park.
Q: What industries are being prioritized for investment in Da Nang?
A: Secretary of the municipal Party Committee Nguyen Van Quang has urged the DHPIZA to focus on attracting investment in the electronics, semiconductor, and medical equipment industries.
Q: What is being done to accommodate future investors and expand the Hi-Tech Park?
A: Da Nang is currently reviewing the zoning plan of the Hi-Tech Park to accommodate future investors and ensure the successful expansion of the park in its second phase.
Definitions:
– Foreign Direct Investment (FDI): Investment made by a company or individual from one country into a business or project in another country.
– Semiconductor: A material, typically made of silicon, used in the production of electronic devices and integrated circuits.
– Hi-Tech Park: An area specifically designated for the development and operation of high technology industries and research centers.
Related Links:
– Da Nang Hi-Tech Park and Industrial Zones Authority (DHPIZA)
– Official website of Da Nang City
The source of the article is from the blog publicsectortravel.org.uk