After lagging behind other provinces and cities nationwide in attracting Japanese investment, the central city of Da Nang has emerged as a popular destination for investors from the Land of the Rising Sun.

Statistics released by the municipal Department of Planning and Investment showed that Japan investors have to date poured more than 950 million USD in 194 projects, ranking first among over 40 countries and territories investing in the city. Japan has been a leading foreign investor in Da Nang in the number of projects. Japanese firms have greatly contributed to the city’s economic development, creating jobs for about 30,000 workers in Da Nang and neighbouring localities. Experts noted that Japanese investors pay great attention to information provided by their predecessors when doing business abroad. Therefore, to attract Japanese capital influx, local authorities should work towards policy transparency for current firms, particularly in tax collection, land policy, investment procedure, customs clearance and import-export. The city was also advised to improve its infrastructure, including Da Nang airport, seaports, electric power systems and wastewater treatment systems in industrial parks.-VNA