“Our vision is to transform Da Nang city into an economic, IT, innovation and Hi-Tech Center of Vietnam and Asia. We need collaboration from Indian industry in realizing this vision.
Da Nang is the leading city in Vietnam in terms of competitiveness, liberal economic policy and e-governance. Da Nang city witnessed excellent economic growth, with its regional GDP
growing 7.23% in the six months of 2022 and it has attracted 905 FDI projects amounting to USD 4 billion upto June 2022. The government of Da Nang has signed MoU for nine projects
with private firms, including with a large Indian company. We invite Indian investment in the five focus sectors, viz. 1) Tourism, 2) Sea Port & Airport, 3) Hi-Tech Manufacturing,
4) IT & Digital Economy and 5) Fisheries,” said Mr. Tran Phuoc Son, Vice Chairman, Da Nang People's Committee, Vietnam at an interactive meeting on 'Trade Opportunities between India
and Vietnam' organized by WTC Mumbai.
Mr. Son led a High-Level Business Delegation from Vietnam consisting of senior officials from Department of Information and Communication, Department of Industry and Trade, Department of Foreign Affairs and Department of Tourism in Da Nang city.
In order to promote tourism and business ties, Vietnamese airline Vietjet will soon launch direct flight service connecting five Indian cities, viz. New Delhi, Mumbai, Hyderabad, Ahmedabad and Bengaluru with Da Nang.
Mr. Son invited Indian companies to invest in the Da Nang Hi-Tech Park, which has state-of-the art logistics, incubation, IT & telecom infrastructure. This park seeks investment in six priority sectors, viz. micro-electronics, IT, automation & precision technology, New Energy, Nano Technology and Petrochemicals. Investors can avail of all the government incentives, including tax benefits and subsidized land at this park.
Mr. Son also invited Indian companies to explore investment opportunity in the 341 hectare IT park, which is adjacent to the Da Nang Hi-Tech Park. This IT Park was operationalised in 2019 and it has so far received six investment projects, one from foreign investors and five local investors. This IT Park is envisioned to be the top-class IT hub in Asia, Mr. Son informed.
Earlier in his welcome remarks, Dr. Vijay Kalantri, Chairman, MVIRDC WTC Mumbai pointed out, “India’s diplomatic, economic, cultural and tourism relation with Vietnam is on a sound footing. Many Indian companies have invested in Vietnam, directly and also indirectly through other countries such as Singapore, although official investment data may not reflect such indirect investment. We need to maintain this excellent economic relation by exchanging trade and business delegation. Both the countries need to promote economic ties by identifying focus sectors such as electronics, textile, agro-processing and others of mutual importance.”
Dr. Kalantri raised hope that the current level of bilateral trade is USD 14.4 billion and this can be doubled in the coming years through focused trade promotion efforts. He pointed out, “WTC Bhubaneswar recently led a 20-member delegation to Vietnam to strengthen bilateral commerce. A few months ago, we have also signed MoU with Invest Global, which is a Vietnam-based trade, tourism and investment promotion agency.”
During the event, officials from the Vietnam delegation made a presentation about how Da Nang can be an ideal tourist destination for weddings, honeymoon and leisure travelers.
The event was attended by Mr. Hoang Tung, Consul General, Consulate General of Vietnam in Mumbai, Mr. Duong Duc Anh, Vice Consul, DCM, Consulate General of Vietnam in Mumbai and representatives from tourism, hospitality, agro-processing, pharma, healthcare and other industries in India.
Capt. Somesh Batra, Vice Chairman, MVIRDC WTC Mumbai proposed vote of thanks for the event.