DANANG INVESTMENT PROMOTION AGENCY 01-2017€¦ · FDI INTO VIETNAM FDI OVERVIEW According to data...

DANANG INVESTMENT PROMOTION AGENCY 01-2017

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INVESTMENT NEWSLETTER 01

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ダナン市投資ニュースレター

FDI INTO VIETNAM

FDI OVERVIEW

According to data from Foreign Investment Agency (FIA) under Vietnam’s Ministry of Planning and Investment, by the end of December 2016, there were 2,556 foreign direct investment (FDI) projects in Vietnam that were worth US$ 15.18 billion.1,255 projects registered for capital adjustment, in which total capital increased by 5.76 billion USD, equivalent to 80.3% of last year. Thus, in 2016, total registered new and adjusted capital into Vietnam accumulated to 24.4 billion USD, which represented a year-on-year increase of 7.2%

FIA continued to reveal good news about FDI disbursement. The amount of investment actually implemented in the country reached US$15.8 billion, demonstrating an increase of 9%. By the end of 20/12/2016, the number of valid FDI projects into Vietnam had accumulated to 22,509 projects, in which the number of 100% foreign capital and joint venture projects were 18,624 and 3,635 respectively, and the rest was projects under BOT, BT, BTO contracts and business corporation contracts.

FDI INTO VIETNAM 2016

Indicator Unit 2015 2016 Growth(%)

Realized capital Mil. USD 14,500 15,800 109

Registered capital Mil. USD 22,757 24,373 107.2

Newly-licensed capital Mil. USD 15,578 15,182 97.5

Increased capital Mil. USD 7,180 5,765 80.3

Number of project

Newly-licensed projects Projects 2,013 2,556 127

Capital- increased projects Projects 814 1,225 150

Export

Export (Including crude oil) Mil. USD 114,267 125,901 110.2

Export (Excluding crude oil) Mil. USD 110,557 123,554 111.8

Import Mil. USD 97,226 102,201 104.4

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DANANG INVESTMENT NEWSLETTER

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ダナン市投資ニュースレターDANANG INVESTMENT NEWSLETTER

Processing and Manufacturing

Source:Foreign Investment Agency (FIA), Vietnam’s Ministry of Planning and Investment

Real Estate

Wholesale, retail

Others

FDI INTO VIETNAM BY SECTOR

TOP 5 FDI INVESTORS IN VIETNAM

63.7%

21.61%

6.9%

7.79%

CountryNewly issued

projects

Newly-registered

capital (US$ million)

Increased- capital

projects

Additional registered


Newly-registered and additional


Korea 828 5,518.61 411 671.79 7,036.3

Japan 341 868.09 219 1,288.08 2,589.86

Singapore 210 1,590.5 92 571.39 2,419.09

China 278 1,263.22 74 441.15 1,875.22

Hongkong 166 1,102.71 58 496.83 1,640.15

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FDI INTO DANANG Throughout the year, the city had issued new investment registration certificate for 72 projects with total investment capital of 78.492 million USD. Besides, there were 13 projects that had capital increase of 32.72 million USD, and 1 project that had capital decrease of 14.36 million USD. Most of the newly issued projects were in the sectors of processing and

manufacturing, consultancy and management,

information technology and media, import and

export…

As of 15/01/2017, the number of projects

in the city had accumulated to 447 valid FDI

projects with total registered investment capital

of 3,768 million USD.

FDI INTO DA NANG LISTED BY COUNTRY (AS OF 15/1/2017)

FDI INTO DA NANG LISTED BY BUSINESS SECTOR (AS OF 26/12/2016)

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Singapore

Japan

Korea

Taiwan

British Virgin Islands

Real estate - Tourism

Construction

Lodging and Catering

Wholesale - Retail

Others

Processing and Manufacturing

Education and Training

Others

USA

20%

19%

17%14%

14%

11%

5%

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Eight key orientations of the Vietnamese Government in 2017 TPM Nguyen Xuan Phuc alleged the Government’s 8 key orientations at the Vietnam Developmet Forum 12/2016 on the grounds of building an effective adminisatrative system, a facilitating and action oriented Government in favour of both citizens and businesses including: - Concentrating on reforming administrative procedures and preventing corruption. - Concentrating on improving the business and investment environment, raising competitiveness, encouraging innovations, business start-up, and private economy to encourage economic development.- Restructuring the economy in a practical manner in line with transformation of the growth modal; implementing mid-term public investment plan with the priority to key infrastructure development. - Accelerating SOEs equitization process, divestment of state capital in accordance with market mechanisms; Improving management capability and productivity of SOEs. - Controlling public debts. Kiểm soát nợ công chặt chẽ. Minimizing government guarantee issuance; restructuring public debt in the direction of extensibility, reducing borrowing costs. Also, modifying relevant legislation accordingly and effectively.- Properly disposing all bad debts. Focusing on perfecting the legal framework, especially the handling of security property; improving the capacity and legal basis of the VAMC; developing market for debt trading. Improving the capacity, operation efficiency, ensuring transparency, approaching international standards of credit institutions. - Ensuring social welfare, protecting the environment and responding to climate change.- Positively integrating into the world economy, expanding the market associated with enhanced product quality and compliance with the high standards of the major markets. Strengthening commercial cooperation for development.

PM Shinzo Abe visits Vietnam for the 3rd time and new steps of development in Vietnam- Japan relationship Prime Minister Shinzo Abe’s visit to Vietnam on January 16-17th 2017 is a milestone deepening bilateral and friendship relations between the two peoples of Vietnam and Japan.

During meetings and talks with senior leaders of Vietnam, many documents were signed between ministries, departments and enterprises of the two countries, such as exchange of notes ODA loan assistance program applications climate change response cycle 7 (worth 10 billion yen); Exchange of notes for the project grant aid for the economic development program - Social providing enhanced equipment security capability waterway (worth 300 million yen) ... Japanese Prime Minister Shinzo Abe emphasized that Japan will contribute more to the socio-economic development of Vietnam.Also on this visit, on morning 17/1, PM Shinzo Abe and PM Nguyen Xuan Phuc co-chaired the Seminar “Vietnam- Japan Enterprises”. In this seminar, Danang city had an opportunity to introduce about its business and investment environment, socio-economic development situation and FDI attraction incentives. Japan is the top economic partner of Vietnam and the first G7 nation to recognize the market economy of Vietnam. Since the relations establishment in 1973, the two countries have had many bilateral economic cooperation schemes, creating the grounds for average growth of export of 13.9% in recent years. Japan has 3,242 valid FDI projects in Vietnam with total investment capital of 42.016 billion USD, ranking number

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NEWS - EVENTS




2 out of 112 nations and territories that have investment in Vietnam (after Korea). Japan is also the biggest ODA sponsor, accounting for 30% of total committed ODA of the world to Vietnam with 29.5 billion USD loan for Vietnam.

In addition to the economic pillar, the Vietnam – Japan relations flourished for years in all areas of education, agriculture, tourism, labor, response to climate change, and cooperation between localities. In particular, Japan has a lot of support for Vietnam to improve patrol, defense and maritime security...

APEC Summit 2017 to be held in Da Nang from 05/11 to 11/11 On the occasion of APEC 24 in Lima, Peru on November 20th 2016, President Tran Dai Quang declared that Vietnam would host APEC 2017 with the culmination of APEC summit week in Da Nang city. The event was assumed to mark the development and international integration of the whole country including Da Nang city.

APEC 2017 Summit week takes place in November 2017, in which the most important event is the summit meeting of leaders of 21 member economies and thousands of official delegates, domestic and international journalists, reporters and business people. The scale and importance of the event indicate a strategic opportunity for Da Nang to affirm its position in the country and the world. This opportunity results from many breakthrough policies of the city over the last 20 years. The efficient and creative implementation of the Central Government’s policies and directions to exploit the potentials and resources of the city and develop many proper policies that meet people’s expectations has created a momentum for Da Nang to accelerate the industrialization and modernization. The city has been rapidly transferring the economic structure and investment attraction focus to the sectors of service, tourism, green growth, high technology, creating many breakthroughs in master planning and urban insfrastructure development. Da Nang was proud to lead in provincial competitiveness index (PCI) in 3 consecutive years from 2013 to 2015… In the APEC 2017 summit week, in addition to the APEC summit meeting, many events will be held including: Senior officials’ meeting, 4th meeting of Business Advisory Council, CEO summit, Dialogue of senior leaders and ABAC leaders, Ministerial meetings of Ministers of Foreign Affairs and Economy…

(Extracted from Huynh Duc Tho, Chairman of Da Nang People’s Committee ‘s speech)

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Da Nang’s “4 secured programs” Da Nang City has implemented the program of 4 secured contents (security and order, traffic safety, food safety and social welfare) to create a radical change, increasing prevention and fight to repel crime, maintaining security and order and ensuring traffic safety, food safety, promoting social welfare, motivating and building a solid foundation for a prosperous, peaceful, civilized and modern city.

Da Nang leads in Vietnam’s top 5 largest cities in business public services According to the results of 2016 survey by VCCI on quality of public services for businesses in 5 largest cities in Vietnam (including Hanoi, Ho Chi Minh city, Hai Phong, Da Nang and Can Tho), Da Nang was ranked number 1 regarding infrastructure index, public service quality evaluation, traffic quality, and power supply. For other utilities such as clean water supply, industrial zone and cluster, telephone and Internet services, the satisfaction of businesses in Da Nang is also high as compared to others.Most importantly, the ratio of potential investors choosing good infrastructure as decisive factor for investment location selection was 55%, as compared to Hanoi at the lowest of 29%. Similarly, 57% of businesses highly appraised the governance quality of Da Nang, followed by Ho Chi Minh city (24%), Hanoi (15%), Hai Phong (13%) and Can Tho (9%)

Investors are permitted to re-rent factories in Da Nang industrial zones from 2017 Da Nang Management Board of Industrial and Export Processing zones declared that businesses are permitted to re-rent vacant factories and warehouses to facilitate the demand of those who have vacant factories for rent and those who are in need of premises for manufacturing activities. The lessor must have a written commitment for holding responsibilities for ensuring the premise quality during the leasing term; meanwhile the lessee must ensure the impletation of masterplan and relevant business activities in each industrial zone in accoradance with the law, which must neither affect the operation of neighbour projects nor cause environmental pollution.

Da Nang to implement bus rapid transit BRT project According to Management Board of Danang Priority Infastructure Projects, BRT project with total investment capital of 70.2 million USD is implemented for 3 routes: Hoa Khanh IZ (Lien Chieu) to Viet Han Friendship IT College (Ngu Hanh Son), 29-3 Park (Thanh Khe) to Hoi An (Quang Nam) and Da Nang International Airport to Ba Na (Hoa Vang).

The project also develops categories of infrastructure investment, e-ticket system, intelligent traffic system ITS, traffic signals, bus purchasing (36 BRT and 36 normal buses). Besides construction paclages of BRT project, there is a special construction package for Nguyen Tri Phuong- Dien Bien Phu junction tunnel. Da Nang BRT project will be completed in 2019 to meet the increasing demand for traffic of Da Nang people. The city currently has a population of more than 1.1 million citizens with more than 80,000 automobiles and 800,000 motorbikes. The annual growth rates of automobile and motorbike are 12% and nearly 8% respectively.

Boosting investment from Japan On January 11th Vice Chairman Ho Ky Minh had a meeting with delegation from Japan-Vietna,m Economic Forum (JVEF) led by Chairman Masaaki Yoshida on their visit and business trip to Da Nang city. JVEF agreed to support Da Nang to attract strategic investors from Japan to Da Nang hi-tech park and other industrial zones, develop infrastructure and organize some side events during the APEC 2017 summit week. Prior to that, on December 16th there was a signature ceremony between Danang Investment Promotion Agency (IPA Da Nang) and Gifu Shinkin (Japan) on the Memorandum

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of Understanding of investment attraction from Japan to Da Nang.

The main purpose of the MoU was to promote investment into Da Nang city, in which IPA Da Nang, within its capacity, would provide information on the market, investment environment and incentives, and support prelimanary study activities of Gifu Shinkin’s customers in Da Nang, providing necessary information and facilitating their business registration during their investment in Da Nang. With regards to Gifu Shinkin bank, they would promote about Da Nang city and hold conferences introducing investment environment of the city and provide potential investors with information including investing in industrial zones, Da Nang’s investment policies…. On the ceremony, Le Can Duong- Director of IPA Da Nang revealed in his speeach: Japan is the fifth largest investor in terms of investment capital in the list of 38 nations and territories that have FDI in Da Nang, with total capital of more than 397.5 million USD (accounting for 10.78% of the total FDI capital in Da Nang). Previously, the investment projects from Japan mostly focused on production, processing, manufacturing (84%), construction and IT. However, they recently extended to the services sector, especially tourism, real estate, health, education ...

Australian businesses take interest in investment in Danang On the visit and business trip to Da Nang of Australian businessmen introduced by Dr. Lee E. J. Styger, Director of EMBA program of Sydney Business School, Wollongong University, Australia, IPA Da Nang held an Australia- Da Nang business matching

workshop with the attendance of 20 Australian businessmen and representative leaders of departments and businesses in the city. This is the second time business delegation of EMBA program to visit and study the investment environment of the city. With the comprehensive partnership founded since September 2009, trade and investment between Da Nang and cities of Australia is in the process of growing. Currently, Da Nang has 22 investment projects from Australia with the total registered capital of nearly 10 million USD. There is also rapid fourth-fold growth rate of tourists from Australia to Da Nang from 2011 (6,910 delegates) to 2016. Australia also provide frequent support for Vietnam and Da Nang especially in the sectors of education and training, private economy, economic sustainable development, innovation and creation, green growth and climate change effect reduction projects. At the seminar, Huynh Lien Phuong, Vice-Director of IPA Da Nang also responded to many questions of Australian businesses regarding the role of the East West Economic Corridor in the economic motivation for the whole region, ICT infrastructure development plan and its impact on the economic- tourism development of the city; use of media to promote investment, trade, and tourism opportunities, cooperative programs on education and policies on tax, insurance, and labour, and investment incentives for investors in Da Nang..

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NEW LEGAL REGULATIONS

Law No. 03/2016/QH14 dated november 22, 2016, on amendment and supplement to Law on investment

Law on accounting No. 88/2015/QH13

Decree No. 153/2010/Nd-Cp dated 14/11/2016 by The government providing for regional minimum wage rates applied to employees working under an employment contract

The law amends and supplements to Article 6 and Annex 4 on the list of conditional business lines stipulated in the Law of Investment passed by the National Assembly. Accordingly, the new list consists of 243 conditional business lines, instead of 268 at present, such as:- To remove 20 conditional business lines (Bidding agency service, insurance agent training service, medicine testing services, trading in art and photography works)- To supplement “sale of equipment and camouflage software used for sound and video recording and positioning” and “manufacture, assembly and import of automobiles” to the list of conditional business lines as of 01/7/2017.- To supplement “Trading in firecrackers” to the list of prohibited business lines.This Law takes effective from 01.01.2017.

Accordingly, Law on accounting provide detailed regulation on the provision of accounting services such as registration, business conditions for certification and companies providing accounting services, etc.- In 24 months from January 01, 2017, the providers of accounting services, already incorporated, have to meet the conditions defined in the 2015’s Law of accounting to obtain the certificate of eligibility for provision of accounting services.If remaining ineligible pursuant to this Law after the said deadline, their provision of accounting services shall be terminated.- Issuance of Accountant Certificate instead of Certified Accounting Technician. Certified Accounting Technician issued before 2017 is still valid. - Prohibited acts in the accounting sector are specified: Rent, borrow, lease and lend, in any manners, the accountant certificate or the certificate of registration of the provision of accounting services; the accountant in collusion with the accounting service provider or in connivance with the client provides or endorse false accounting information and figures.This Law takes effective from 01.01.2017.

Accordingly, subjects of application include: Employees who work under terms and provisions of employment contracts prescribed by the Labor Code; Enterprises which are established, organized and operated under the Corporate Law; Cooperatives, cooperative unions, artels, farms, households, individuals and other organizations in Vietnam that hire employees working under employment contracts; Overseas institutional entities and international organizations and foreigners operating within the territory of Vietnam that hire employees under employment contracts (unless otherwise stipulated by international conventions to which the Socialist Republic of Vietnam is a party).Regional minimum wage rates applied to employees working for enterprises shall be prescribed as follows, as of 01/01/2017:

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- Region I : Increase from VND 3.500.000/month to VND 3,750,000/ month; - Region II : Increase from VND 3.100.000/month to 3.320.000/month;- Region III: Increase from VND 2.700.000/month to 2.900.000/month;- Region IV: Increase from VND 2.400.000/month to 2.580.000/month. (Note: Danang city is in region II)This Decree takes effective from 01/01/2017.

Decree No.154/2016/NĐ-CP dated 16/11/2016 by The government defining environmental protection charge for wastewater.

Decree 175/2016/Nd-Cp on amendment to Decree 86/2013/Nd-Cp on the business of prize-winning electronic games for foreigners

Accordingly, subjects of application under the environmental protection charge including industrial wastewater and domestic wastewater are: households, state agencies, business enterprises, people’s armed departments, car and motorcycle wash and repair facility, hospitality, medical clinics, restaurant, …The environmental protection charge for waste water is 10% of the selling price of a m3 clean water excluding VAT. If necessary, the provincial People’s committee decides to charge higher in accordance with local reality.With regard to domestic wastewater from self-exploitation, the charge is determined by the average number of users and the price per m3 of water in the region.This Decree shall take effect from the date of 01.01.2017.

Conditions for grant of business eligibility certificates on the business of prize-winning electronic games for foreigners: - Minimum charter capital at VND 200 million; - Has being licensed by a competent agency for establishment and business operation of tourist accommodation establishments and registered business of prize-winning electronic games. Advertisement is only allowed in the form of billboard placed inside the tourist accommodation establishments, granted by competent authority, ensure that people outside the establishment can not hear or see advertising content. A fine of between VND 90,000,000 and 100,000,000 is imposed on persons who conduct the business of prize-winning electronic games without business eligibility certificates, on enterprises which conduct the business of prize-winning electronic games without fulfilling the provisions of the law; A fine of between VND 180,000,000 and 200,000,000 is imposed on enterprises that organize the business of prize-winning electronic games not in locations indicated in their business eligibility certificates.Businesses which have been granted an investment certificate of registration or corporate registration, including operations of prize-winning electronic games; or official documents from the competent state agencies before 15/02/2017 is allowed to continue trading.Enterprises do not have to submit financial statements of the fiscal year preceding the year filing for issuance of audited investment certificates.

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Circular No. 215/2016/TT-BTC dated 10/11/2016 by the Ministry of Finace on amounts, collection, payment, management and use of fees for providing information about enterprises, charges for enterprise registration

Circular No. 302/2016/Tt-Btc dated 15/11/2016 by the Ministry of Finance on guidelines for license fees.

Danang Adjusts New Land Price

This Circular shall take effect from 01/01/2017. Accordingly, amounts of fees for providing information about enterprises, charges for enterprise registration is as follows:+ Charge for registration of enterprise establishment, amendments to enterprise registration, reissuance of enterprise registration certificate: VND 200,000 per registration (increase VND 100.000 at present). + Charge for new issuance, reissuance, amendments to certificate of registration for branches, representative offices, business location of enterprise: VND 100,000 per registration. + Fee for providing information about enterprise registration certificate; certificate of branches, representative offices, business location: VND 20,000 per certificate+ Fee for providing information in enterprise registration dossier; providing financial statements of business entities: VND 40,000 per dossier/statement+ Fee for providing consolidated report on enterprise: VND 150,000 per report+ Fee for declaration of contents of enterprise registration: VND 300,000 per declaration+ Fee for providing enterprise’s information according to registered accounts at least 125 documents per month: VND 5,000,000 per month- Entities eligible for fee/charge exemption+ Enterprises making amendments due to a change of administrative division.+ Enterprises registering for dissolution or business suspension; enterprises applying for shutdown of branches, representative offices, business location.+ Enterprises applying for enterprise registration electronically.+ Regulatory agencies applying for providing information serving state management purposes.

Accordingly, The amounts of annual licensing fees for organizations engaging in business as follows:- Organizations with charter capital and investment capital of greater than VND 10 billion: VND 3,000,000;- Organizations with charter capital and investment capital of less than or equal to VND 10 billion: VND 2,000,000;- Branches, representative offices, business premises, public service providers, other business entities: VND 1,000,000For newly active enterprises, license fee shall be declared once, no later than the last day of operating month. The deadline for submission of license fees is no later than 30/01 annualy. This Circular shall take effect from 01/01/2017

The Danang People’s Committee has issued a decision stipulated price of land in the city area, taking effective from the date of 01.01.2017. Compared to the old price, the land price rose sharply in 2017, especially in the Son Tra, Ngu Hanh Son. The coastal land area increases by up to 5 times, the highest city price is VND 96 million/m2. According to Danang People’s Committee, adjustment to land prices is to match the current real estate situation, at the same time to avoid the loss of tax revenue, cost of real estate transactions.Details at http://www.danang.gov.vn

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SOME DEVELOPMENT HIGHLIGHTS DURING 20 YEARS OF DA NANG UNDER DIRECT MANAGEMENT OF THE CENTRAL GOVERNMENT

(01/01/1997 - 01/01/2017)

Da Nang is separated from Quang Nam - Da Nang Province into one centrally controlled administrative unit since 1st January 1997. This event marked an important milestone as the beginning of a special development stage – Danang, from a provincial city, has quickly thrived to first class city at national level. After 20 years, Da Nang has achieved remarkable development in several areas:

1. Infrastructure development- The city has implemented bold, decisive and thoughtful urban planning, especially the policy of “expanding the river bank, stretching coastline towards the sea”; conducting big schemes of urban planning, embellishment and development, as a grand construction site with more than 110 thousand households consent to clearance and reallocation, generating new momentum for rapid changes in Da Nang.- Urban space is constantly expanding, increasing nearly fourfold compared to the year 1997 of which there were only 360 streets. Da Nang now has more than 2,000 routes with numerous arterial roads, 9 bridges crossing Han River providing synchronous urban connection, many key construction projects and new spacious, modern and fully-equipped residential areas replacing old, underdeveloped villages.- The city built and effectively exploit 6 industrial zones (IZ Da Nang, Khanh Hoa, Hoa Khanh expanded, Lien Chieu, Hoa Cam) and is expected to open new 4 industrial parks (Hoa Ninh, Hoa Nhon Hoa Son, Hoa Cam expansion) in near future to meet the manufacturing needs of enterprises.- Da Nang International Airport is expanded and upgraded to accommodate 6 million passengers/year and 20,000 tons/year with more than 390 international flights per month, 24 international flights per week, 10 fixed routes , 14 charter flights directly connecting 9 major provinces and cities of Vietnam’s and 25 cities of other countries in Southeast Asia.- Da Nang Port’s through put capacity is increased up to 7.2 million tons in 2016 and the frequency of 18-20 container ships per week.

2. Economic City reached a high growth rateAfter 20 years, Da Nang truly became a fast-growing city compared to many other cities and provinces in the country. Economic indicators exhibit positive changes. Annual growth rate was 10.61% in the period 1997-2005, 11.13% from 2006 to 2010 and only 9.71% year for 2010-2015 due to general economic downturn, but the rate was still higher than the national average. GRDP per capita improved remarkably, being only $USD 420/person in 1997, increasing to $USD 460 in 2000, almost tripling to $USD 1,485 in 2010 and soaring to $USD 3,504 in 2016, higher than the national average rate and nearly 7 times of the figure before the separation.Economic structure shifted positively as while the proportion of the service sector, industry and construction increased, the share of agriculture, forestry and fisheries fell (the structure composition services - industrial building - agriculture was 55.1% - 35.2% - 9.7% in 1997; in 2010: 56.7% - 40.3% - 3.0%; and in 2015: 62.6% - 35.3% - 2.1%.). Export turnover increased steadily over the years with the figure being $USD 155 million in 1997, $USD 634 million in 2010 and reaching $USD 1,303.6 million in 2016. Total retail sales of goods and services in 1997 was $USD 6,353 billion, increased to $USD 34,104 billion in 2010 and $USD 72,500 billion in 2015. The city’s industrial development has advanced with continuously innovated equipment and technology. Many products have been recognized as high quality Vietnamese made products, winning various national and international awards, and is widely credited by customers such as automobile tires, cement, shoes, clothing, seafood exporters, paper, power cables, capacitors, etc.

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- Da Nang successively led the country in terms of economic development indicators. For years, the city repeatedly been voted the first place on the Provincial Competitiveness Index (PCI), Provincial Administration Reform Index (Par Index), ICT Index assessing readiness in application and development of information communication technology and Public Administration Performance Index (PAPI) measuring effectiveness of public administration.- The city’s total budget revenue in 2016 is estimated at $USD 18,227 billion compared to $USD 1,164.4 billion in 1997. Total investment capital for development is estimated at $USD 34,275 billion compared to $USD 1,625 billion in 1997.- Services showed strong development, particularly in tourism and trade. Production value of service sector increased expectedly by 12.1% per annum. Tourism developed rapidly, gradually asserting itself as a key economic sector of the city. During the period of 2011-2016, the total number of visitors to the city increased annually by 20.1% and income from tourism increased by 30.6% per annum.- Private enterprise developed, increasing steadily to about 18,680 in number with total registered charter capital of over 90,600 billion VND in 2016. FDI attraction is much higher than in 1997, with accumulated 449 FDI projects corresponding to $USD 3.77 billion capital from 43 countries and territories, creating 48,119 jobs for local workers and people in surrounding provinces and cities.

3. The health sector was invested to expand in terms of scale and quality. 36 spacious and modern hospitals and public and private health centers were newly-built to accommodate triple number of beds compared to 1997 (7.099 beds concerting to rate of 67.68 beds per 10,000 inhabitants). Health care quality is improved with more advanced medical techniques.- The quality of education is improving. 25 public and private universities, including international universities were established together with a network of colleges and vocational institutes gradually make Da Nang an important human resource training hub.- The city’s schemes “5 Nos”, “3 Yeses” and the recent implemented “4 safes” embracing humanity were actively executed and enthusiastically followed.- The administrative foundation is built and directed towards modernization, municipal government and e-government. Quality of public servants is receiving focus improvement.

4. International cooperation developed towards multilateralisation, diversification and contributed to the promotion Da Nang image as well as the city’s socio-economic development. In 1997, Da Nang had cooperative agreement with 4 states of 3 different foreign countries. Today, the figure increased to 38 states of 19 countries and regions (with 71 valid agreements).

5. Political security is maintained stable; basic social security is guaranteed, active and under controlled. The work of ensuring traffic order and safety has had positive changes.

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UPCOMING EVENT

EVENT TIME PLACE

Economic - Investment

Vietnam - Japan Economic Dialogue 2017 24/01 Ha Noi

“Export promotion of agricultural products - food processing to Canada” Seminar

14/02 Danang Luxury Hotel

“Coffee and Tea Asia 2017” Fair 02 - 04/3 Singapore

“Investment corporation between Thailand-Danang” Seminar

23/3 Danang Administrative Center

“Agriculture of Far East and Siberia in 2017” Annual International Investment Forum and Exibition

26 - 27/04 Vladivostok City, Russia

Socio-cultural

Danang Dragon Bridge Event

From 26-1 to 29-1 night continuously

Tran Hung Dao St., Son Tra District

2017 Spring Flower and Lunar New Year Flower Fair 27/1 – 03/02 29/3 Square

and 29/3 Park

“Tuong” - Traditional dance street performance 28/01 - 02/02 Eastern Han River Bridge

Square

“Spring and 12 Animal designations” Art exhibition 23/01 - 06/02

Arts museum, 78 Le Duan St., Hai Chau District

“Street music” program 12/02 & 25/02 Eastern Han River BridgeSquare

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DANANG INVESMENT PROMOTION AGENCY18th Floor, Danang Administrative Center, 24 Tran Phu St.

Danang CityTel: +84 511 3 886 243 | Fax: +84 511 3 810 056

Email: [email protected]

Sources:www.chinhphu.vn

www.vneconomy.vn

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DANANG INVESTMENT PROMOTION AGENCY 01-2017€¦ · FDI INTO VIETNAM FDI OVERVIEW According to data...

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