Over US$450 million to be poured into Danang
Over US$450 million to be poured into Danang
The Danang government will present investment certificates to eight foreign direct investment projects valued at US$469.4 million at a conference slated for March 1.
Most of the projects are in the manufacturing, information technology, logistics, tourism and medicine fields, Huynh Lien Phuong, deputy director of the Danang Investment Promotion Agency, said at a meeting between the municipal leaders and the organizing committee of the conference today, February 27.
Phuong noted that in addition to the development of these projects, Danang will continue attracting more investments into these major sectors this year.
Of the eight projects, the project manufacturing avionics by Universal Alloy Corporation Asia Pte, Ltd (UAC), has the most investment capital, at US$170 million. The project will be developed at Danang Hi-Tech Park.
In addition, the city will gain its second-largest project, funded by Mikazuki, to enlarge the Xuan Thieu tourist area. It will be located in Hoa Hiep Nam Ward, Lien Chieu District, receiving US$100 million in investment capital.
In Danang City, UAC will turn out 4,000 electronic devices used in aircraft to export them to the global market. The firm aims to earn US$25 million from export revenue in 2021 and to raise the figure to US$85 million in 2022.
Besides this, the firm has drawn up a plan to employ 1,200 laborers with strong mechanical engineering, electronic engineering and automation skills.
Other projects include one funded by Sun Frontier to build a tower with total capital of US$56.4 million, a US$50-million project extending the Nissan assembly plant of TCIE Vietnam, a project being developed by U.S.-based Key Tronic EMS to construct an electronic device assembly and manufacturing factory costing US$70 million and a project to expand the Mabuchi Motor factory funded by Mabuchi Motor with total capital of US$30 million.
In addition, the municipal government will grant approval for research on 12 new projects at a total cost of US$3.48 billion at the upcoming conference.
The projects include Danang Gateway, funded by a joint venture between Sakae Holdings Ltd, Fission Holdings Pte Ltd and Newtechco with total capital of US$2 billion, and the US$200-million horse-riding club project of Keyhinge Toys Vietnam.
