The central city of Da Nang granted new licences to 126 foreign direct investment (FDI) projects in 2018 with a total investment value of over 155 million USD – double the level it saw in 2017.

According to the latest report from the city’s planning and investment department, Da Nang has attracted a total of 679 FDI projects worth 2.9 billion USD and 322 domestic ones worth 4.2 billion USD. Tourism estate and service projects made up 60 per cent of all new FDI projects in 2018, while manufacturing industry projects were the other 40 per cent. Singapore was the biggest source of investment in Da Nang, followed by Japan, the US and the Republic of Korea. Da Nang will encourage investors in hi-tech industries and high-quality services in the form of PPPs (public-private partnerships) as well as investments in waste treatment, infrastructure and solar and wind power. -VNA