Foreign direct investment (FDI) disbursement in the central city of Da Nang has neared 1.8 trillion VND (76.54 million USD) since the start of 2020, a year-on-year surge of 92.1 percent despite the COVID-19 pandemic, according to the city’s statistics office.
Da Nang (VNA)– Foreign direct investment (FDI) disbursement in the central city of Da Nanghas neared 1.8 trillion VND (76.54 million USD) since the start of 2020, ayear-on-year surge of 92.1 percent despite the COVID-19ඣ pandemic, according tothe city’s statistics office.
Da Nang’s totaldevelopment investment was estimated at over 7 trillion VND in the firstquarter, down 8.1 percent compared to the same period last year. The FDI sector has seena rise in investment attraction thanks to the implementation of several bigprojects, notably the Sunshine aerospace components manufacturing facilitylaunched by the Universal Alloy Corporation Vietnam, and the Japan-investedMikazuki Spa & Hotel Report project. To date, the city haswelcomed 844 FDI projects totalling 3.47 billion USD. Meanwhile, Da Nang has attractedfour state-owned projects with a combined capital of over 8.61 trillion VND sincethe start of the year, bringing the total to 335 projects and 112.6 trillionVND in investment./.
Foreign-invested enterprises (FDI) in Vietnam have been maintaining production despite difficulties caused by the COVID-19 outbreak while preparing plans to recover after the pandemic ends.
The COVID-19 pandemic has had a serious impact on Vietnam’s economy but it’s also believed to create the conditions to attract more foreign direct investment (FDI) as there have been signs of a switch in capital flows away from China and to ASEAN member countries.
Vietnam attracted 12.33 billion USD in foreign direct investment (FDI) in the first four months of 2020, a year-on-year decrease of 15.5 percent due to the impact of the COVID-19 pandemic, according the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).
Vietnam attracted 12.33 billion USD in foreign direct investment (FDI) in the first four months of 2020, a year-on-year decrease of 15.5 percent due to the impact of the COVID-19 pandemic, according the Ministry of Planning and Investment’s Foreign Investment Agency (FIA).
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A view of Da Nang at night (Photo: VNA) 
