Hanoi (VNS/VNA) - The centralcity of Da Nang always appreciates the contributions of Japaneseenterprises to its socio-economic achievements in 30 years attracting foreigndirect investment (FDI) into Vietnam.

The statement was made by Vice Chairman of the DaNang City People’s Committee Ho Ky Minh at an investmentpromotion conference held recently in Hanoi.

Minh said they also considered Japan as animportant strategic partner for concentrating investment attraction.

By the end of November 2018, Da Nang has attracted670 FDI projects with total registered capital of 2.88 billion USD. Of which,Japan has invested in 163 projects with a total registered capital of more than675 million USD and is the country with the largest investment projects in DaNang.

Japan’s investment projects focus onmanufacturing and processing industry as well as information technology andcommunication.

These projects have created jobs for more than20,000 local workers, providing advanced management models, modern businessmethods and having a positive impact on domestic enterprises in terms oftechnology innovation and product quality.

They have also contributed to increasing exportturnover and actively contribute to enhancing the image of Da Nang in theregion and also in the world.

“Although the contribution of Japanese FDIenterprises to the development of the city is considerable, the attraction of JapaneseFDI to Da Nang is still limited,” Minh added.

The city continues to improve infrastructure,preferential investment policies, actively support existing investors, promoteadministrative reform as well as build a transparent and favorable investmentenvironment.

Da Nang wants to attract Japanese investors fromsmall and medium enterprises to multinational corporations with advancedfinance and technology capabilities to learn about investment environment andopportunities of the city in the fields of precision mechanics, automation,information technology, hi-tech in general and high quality services in linewith the planning orientation of the central city in the future, according tothe vice chairman.

Speaking at the conference, Hironobu Kitagawa, ChiefRepresentative of the Japan External Trade Organisation (JETRO) said Da NangCity was very potential for investment, however, not many Japanese firms knewabout the existence of this central city.

JETRO was trying to promote the investmentopportunities to Da Nang for Japanese companies to come here and start theirbusiness.

“Da Nang City has significant potential fordeveloping some areas such as information technology, food and beverages, andhotel and resorts,” Kitagawa told Vietnam News.

The event was organised by the People’sCommittee in cooperation with JETRO. It drew the participation of morethan 100 delegates from the associations and investors from Japan.-VNS/VNA