Danang’s Target in 2020 is “The Year of Promoting Investment Attraction”

On December 04^th, 2019 Danang city held the conference on the result of the socio-economic development in 2019 and the target of the city in 2020.  The conference affirmed the situation of implementing the city’s political duties, ensuring some criteria for socio-economic development of the city. In 2019, the city has achieved some outstanding results such as: budget revenue exceeded the assigned estimate (estimated at VND 28.170 billion, reached 102,9% of the estimate, up 3,5%; attracted more than 3.696 billion dong of domestic investment and more than 658 million USD of foreign investment capital (newly granted investment certificates of 118 FDI projects with a total registered capital of 437,13 million USD, 8 times higher than the same period); Total tourist arrivals were estimated at 8.69 times, up 13.4%, revenue from tourism activities was estimated at 30.973 billion VND, up 16,7%. In the year, social order and safety were maintained, is considered by many investors and tourists to be a destination for investment and tourism.

In 2020 is particularly important, the last year to implement the 5-year plan from 2016 to 2020 and the year of many political and cultural events. At this 19th Conference, the Conference agreed on the theme of 2020 as “The year of promoting investment attraction” with specific tasks to focus on implementing: promulgate new preferential policies of the city to attract investors; implement plans on improving the quality and efficiency of foreign investment cooperation; continue to improve infrastructure, expand high-tech zones, create land fund to call for investment; continue to remove obstacles in the planning, land management, human resources for businesses and investors. In 2020, the city will actively coordinate with ministries and branches to submit to the National Assembly for approval of the Resolution on Danang construction and development to 2030, with a vision to 2045; on that basis, submit to the Government for promulgation a decree on specific mechanisms and policies on city development.

In addition, with the goal of attracting foreign investors, the city hopes to receive more investors from many countries around the world to invest in high-tech and technology industries, biology, environmental protection projects, tourism development, etc. through setting up company, factory in Danang City. This is a great opportunity for international investors to seize the opportunity to invest in Danang today, in order to enjoy the incentives, as well as the highest investment efficiency in the future.

ANT Lawyers - law firmin Vietnam is pround to support clients and promote Danang as a friendly destination for investment in Vietnam.