FDI to Da Nang surges despite COVID-19

Wednesday, 2020-04-29 12:18:56
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A view of Da Nang at night. (Photo: VNA)
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NDO/VNA – Foreign direct investment (FDI) disbursement in the central city of Da Nang has neared VND1.8 trillion (US$76.54 million) since the start of 2020, a year-on-year surge of 92.1% despite the COVID-19 pandemic, according to the city’s statistics office.

>>> Da Nang posts sharp increase in domestic investment

Da Nang’s total development investment was estimated at over VND7 trillion in the first quarter, down 8.1% 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 totalling US$3.47 billion.

Meanwhile, Da Nang has attracted four State-owned projects with a combined capital of over VND8.61 trillion since the start of the year, bringing the total to 335 projects and VND112.6 trillion in investment.