Japanese investors have poured USD 1.04 billion into 228 projects in Da Nang to rank first in the list of 40 foreign direct investment (FDI) sources in the city.

A view of Da Nang city

Secretary of the city Party Committee Nguyen Van Quang also urged Sumitomo Group to foster investment plans in Da Nang after Sumitomo Corporation Vietnam and local partner BRG Group began implementing pre-feasibility surveys on infrastructure development of seaports, airports and industrial parks.

During the investment promotion tour in Japan last week, local Thanh Dat Group inked the Memorandums of Understanding (MoUs) with Japanese partners including Magos company (under Metran Group), Heisei medical welfare group, and Minatomirai Group in launching healthcare for elderly and rehabilitation and beauty care service in the city.

Nakagawa Tetsuyuki, General Director of Aeon Mall Vietnam, said the group has built six trading centers in Ho Chi Minh City, Binh Duong, Hai Phong, Hanoi and Thua Thien Hue, and Da Nang would be the next destination for a new trading center.

A Japanese technology company, Pasona Tech Vietnam, has been building an Information Technology (IT) LAB in Da Nang for training human resources in digital transformation needs, and the LAB would open in the second quarter of this year.

Earlier, Pasona had set up its Awaji Da Nang center in Awaji, Japan in boosting IT manpower education and training.

Mikazuki Hotel Group of Japan was seen as one of the successful investment projects in Da Nang in 2022-23 when it officially opened the VND 3.9 trillion (USD 168.16 million) Da Nang Mikazuki Resort&Spa after overcoming difficulties due to the COVID-19 pandemic.

Fujikin International Incorporated from Japan also introduced an R&D center at Da Nang High-Tech Park at a cost of USD 35 million.

Tokyo Keiki Precision Technology Inc and Niwa Foundry from Japan had already operated factories at Da Nang hi-tech park.

Japanese Daiwa Vietnam Company began building its third factory in the city’s Hoa Khanh Industrial Zone with an investment of USD 40 million, bringing its investment in Da Nang to USD 90 million in 2005-20.

Da Nang had inked friendships and cooperation deals with Kisarazu, Kawasaki, Sakai and Yokohama, and the city has hosted the annual Vietnam-Japan cultural Exchange Day since 2014.

Vietnam Airlines has resumed its direct air route from Narita, Tokyo and Da Nang, boosting tourism and investment from Japan to central Vietnam.

Japan promoted its Consulate Office in Da Nang city to General Consulate just a year after it was founded to boost ties between Japan and the central city.

The first Japanese language studies and culture research faculty in the Central and Central Highlands region was set up at the city’s Dong A University.

Eight cities in Japan including Yokohama, Maebashi, Chiba, Fukuoka, Shizuoka and Nagasaki and more than 80 businesses from Japan have inked agreements on the recruitment of students from Central Vietnam to work and study in Japan.

The city’s party secretary, Quang said successful investment projects from Japan would mark the 50th anniversary of Vietnam-Japan diplomatic ties, boosting friendly diplomatic ties between the two nations as well as Da Nang and cities of Japan.

The investment promotion tour in Japan followed the city’s events seeking investment opportunities organized in the United Arabia of Emirates and Qatar last month.

Source: VNA