Da Nang streets look empty due to COVID-19 (Source: VNA)Da Nang (VNA) – The Department of Planning and Investment in Da Nang haspledged to continue working with relevant units to accelerate the completion ofinvestment procedures for projects, with a view to helping businesses implement them and speedup the economic recovery.
The department willalso take measures to help businesses solve difficulties during their formationand operation.
According to themunicipal statistics office, the city’s total development investment wasestimated at over 7 trillion VND (298 million USD) in the first quarter of 2020,down 8.1 percent compared to the same period last year. Notably, FDIdisbursement reached 1.79 trillion VND, up 92.1 percent year-on-year.
Director of theoffice Tran Van Vu said the FDI sector has seen a rise in investment attractionthanks to the implementation of several big projects. Meanwhile, the mainreasons for a decline in the implementation of state-owned projects is theslow allocation of investment capital in the first months of the year, the slowcompletion of documents to implement new projects, and delays to site clearance due to the COVID-19 pandemic.
Statistics from themunicipal department show that in the first quarter,Da Nang attracted 79.4 million USD in foreign investment. To date, the city haswelcomed 844 valid FDI projects totalling 3.47 bilion USD.
Along with Hanoi in the north and Ho Chi Minh City in the south, Da Nang is Vietnam's major economic hub in the country's central region./.
VNA
