Business

FDI to Da Nang surges despite COVID-19

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.
FDI to Da Nang surges despite COVID-19 ảnh 1A view of Da Nang at night (Photo: VNA)

Da Nang (VNA)– Foreign direct investment (FDI) disbursement in the central city of Da Nanghas neared 1.8 trillion VND (76.54 million USD) since the start of 2020, ayear-on-year surge of 92.1 percent despite the COVID-19 pandemic, according tothe city’s statistics office.

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

The FDI sector has seena rise in investment attraction thanks to the implementation of several bigprojects, notably the Sunshine aerospace components manufacturing facilitylaunched by the Universal Alloy Corporation Vietnam, and the Japan-investedMikazuki Spa & Hotel Report project.

To date, the city haswelcomed 844 FDI projects totalling 3.47 billion USD.

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

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#FDI disbursement#Da Nang#COVID-19 pandemic#Q1 2020#FDI projects#state-owned projects#development investment#vietnamplus#Vietnam News Agency
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