FDI to Da Nang surges 92.1 percent despite COVID-19

Update: 17:28 | 29/04/2020
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.
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A view of Da Nang at night.

Da Nang’s total development investment was estimated at over 7 trillion VND in the first quarter, down 8.1 percent compared to the same period last year.

The FDI sector has seen a rise in investment attraction thanks to the implementation of several big projects, notably the Sunshine aerospace components manufacturing facility launched by the Universal Alloy Corporation Vietnam, and the Japan-invested Mikazuki Spa & Hotel Report project.

To date, the city has welcomed 844 FDI projects totaling 3.47 billion USD.

Meanwhile, Da Nang has attracted four state-owned projects with a combined capital of over 8.61 trillion VND since the start of the year, bringing the total to 335 projects and 112.6 trillion VND in investment.

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(Source: VNA)