On September 14th, in the framework of the working trip to Korea - Japan, the delegation from Da Nang city led by Vice Chairman of the municipla People's Committee Ho Ky Minh conducted investment promotion activities in Tokyo, Japan. At the meeting with the Japan Chamber of Commerce and Industry (JCCI), the delegation was warmly welcomed by Mr. Akio Nekoshima, Chairman of the Japan-Mekong Region Business Cooperation Board, CEO of Kawasaki Heavy Industries Company. Being impressed with Veconomic growth of Vietnam and of Da Nang in particular, he shared his plan to lead a Japanese business delegation to visit and survey Da Nang city in March 2018, including visits to Da Nang Port and other related places to explore investment opportunities.
On behalf of the delegation, Vice Chairman Ho Ky Minh thanked JCCI for their support in organizing the Da Nang Investment Promotion Seminar in Tokyo. Vice Chairman introduced some socio-economic features of Da Nang city, expressing the city’s desire of receiving Japan’s support to connect Japanese enterprises to invest in Da Nang’s prioritized areas such as IT, hi-tech, health, education, etc. In addition to pledging Da Nang’s support to JCCI’s business delegation in exploring investment opportunities in the city in March 2018, he also requested JCCI to continue to coordinate with the city to organize investment promotion activities during the course of 2018 on the occasion of 45th anniversary of diplomatic relations between Vietnam and Japan.
On the same day, the delegation paid a working visit to the Japan-Vietnam Economic Committee, Japan Economic Federation (Keidanren). Receiving the delegation, Mr. Kuniharu Nakamura, President of Sumitomo Corporation and Mr. Ichikawa Hideo, Chairman of Showa Denko, presented Japanese investment circumstances in Vietnam and in Da Nang. Expectedly, proposals on improving Da Nang’s investment climate will be put forward at a dialogue on joint initiatives to be held in December 2017. Also, the Japanese side highly appreciated the initiative to promote the East-West Economic Corridor.
Vice Chairman Ho Ky Minh introduced to investors Da Nang’s economic, cultural and educational infrastructure, prioritized areas for investment and cooperative activities on the occasion of celebrating Vietnam-Japan diplomatic relations. Vice Chairman also introduced the city’s policies to attract investment from Japan such as opening Japanese training courses. Vice chairman suggested the Keidanren Federation to recomment Japanese businesses to attend the business summit in the framework of the APEC Economic Leader’s Week (AELW) 2017 taking place in Da Nang in November.
Mr. Nakamura appreciated the integrated solutions in attracting investment of Da Nang and pledged to introduce more investors to the city, especially at the presence of more favorable infrastructure conditions for investors. Showa Denko Company also disclosed information on its plan to invest in a production project of special aluminum plates used for construction in Da Nang.
At the meeting with Chairman of the Japan-Vietnam Business Forum (JVBF), Vice Chairman Ho Ky Minh praised Japan's initiatives to organize a Japanese art exhibition in the framework of the AELW in Da Nang, at the same time committed to facilitate cooperation in the organizing work. Vice Chairman also invited the JVBF to attend the Da Nang Investment Forum held by the city in late September and early October 2017.
On September 14th afternoon, Da Nang People's Committee in collaboration with JVBF held a seminar on Da Nang investment promotion in Tokyo, Japan. Attending the seminar were representatives from the Ministry of Foreign Affairs of Japan, the Embassy of Vietnam in Japan, JICA, Jetro and more than 200 Japanese enterprises in the fields of hi-tech, IT, etc., of which some outstanding participants to be mentioned like Professor Tran Van Tho from Waseda University and a number of large corporations such as Mitsubishi ... After the welcome speech of Vice Chairman Ho Ky Minh and Chairman of JVBF Mr. Inokuchi Takeo, Mr. Tanizaki Yasuaki - Former Ambassador to Japan in Vietnam, Mr. Funayama Tetsu - Chairman and CEO of Mitsubishi Vietnam and Professor Tran Van Tho in turn gave a speech about Da Nang investment environment, followed by an intensinve discussion among the speakers and participating businesses.
Speaking at the seminar, Professor Tran Van Tho claimed that Da Nang will catch a great deal of attention in the future as an economic hub of the Central region thanks to the advantages of abundant tourism resources, strategic location at the eastern end of the East-West Economic Corridor, Da Nang port for import and export of goods, along with industrial development in Chu Lai and Dung Quat IZs of the neighbouring provinces. Japan plays an important role in the process of economic reform and development in Vietnam. Vietnam hopes to receive Japanese investment in the fields of high-quality supporting industry, food processing industry and tourism. Da Nang undertakes the key role in providing supporting services to the southern industrial clusters and providing tourism information and services. Meanwhile, Omotenashi culture is expected to be transferred to tourism facilities in Da Nang.
Commenting on investment climate in Da Nang, President and CEO of Mitsubishi Vietnam Mr.Tetsu Funayama said that Da Nang is a "representative city" when Japanese investors study Vietnam. With the orientation of attracting investment in infrastructure, tourism, hi-tech and environment, Da Nang is a potential destination for investors like Mitsubishi to invest in projects of railways, education, public health (in the fom of PPP), IT, electric cars, hybrid electric motors, etc.
During the presentation to introduce Da Nang to investors, Vice Chairman Ho Ky Minh highly appreciated the comments given by Professor Tran Van Tho and the guests, at the same time, repeated the emphasis on Da Nang's advantages in attracting investment including socio-economic infrastructure and preferential investment policies in construction of transport infrastructure, healthcare and education, and called for investment in IPs, HTPs, Lien Chieu seaports ... Investment capital from Japan continues constituting strategic priority of the city, especially in the fields of hi-tech, IT, supporting industries and high quality services. Vice Chariman also called for Japanese government‘s support on the city’s strategic infrastructure projects such as ports and logistic ... as well as called for Japanese businesses’ participation in the upcoming events during the AELW 2017 in Da Nang.
In the discussion session, the participating enterprises asked questions about human resources, investment procedures, supporting policies in particular areas such as pharmaceutical production in the city. Answering the questions from representatives of the JVBF on the incentives for domestic and foreign enterprises, Vice Chairman Ho Ky Minh highlighted no preferential treatment exclusively for domestic enterprises so that both domestic and foreign enterprises engage in project tendering procedures in accordance with regulations. Vice Chairman emphasized Da Nang's efforts and achievements in implementing administrative reform. Also, human resource training is one of the main concerns, including enhancing Japanese training in schools to meet the needs of Japanese enterprises. In order to encourage cooperation between Vietnamese and Japanese enterprises, information exchange and mutual understanding are critical. Japan Desk has been established at Da Nang Investment Promotion Agency (IPA) to support Japanese investors, publicizing the list of investment projects on website, providing fast and adequate response to enterprises’ requests, and directly receiving feedback and recommendations from the Japan Business Association in Da Nang and making reference to relevant departments for resolutions. To support investors, the city is actively in making proposals to the central government and ministries with regard to investment procedures that require interventions or decisions made by the central-level authorities.
Earlier, on September 11th, the city’s delegation hosted the Investment Promotion Seminar in Daegu, Korea in the framework the working visit to Korea - Japan.
The seminar attracted the participation of more than 40 Korean businesses in various fields, especially IT and energy. At the seminar, Ms. Huynh Lien Phuong, Deputy Director of IPA Da Nang, and Mr. Doan Ngoc Hung Anh, Deputy Director of Da Nang Hi-Tech Park Management Board, introduced investment climate together with preferential investment policies in Da Nang city and Da Nang Hi-tech Park in particular. South Korean businesses raised questions regarding administrative procedures for investment licensing, land rental incentives and market access policy to support investors in Da Nang. Speaking at the seminar, Vice Chairman Ho Ky Minh invited enterprises in Daegu to explore investment opportunities in Da Nang High-tech Park, Software Parks and IT Parks which currently are being built in the city. He also expressed that Da Nang is committed to creating favorable conditions for investors who come to Da Nang.
On the same day’s morning, the delegation paid a working visit to the headquarters of Acro Eng Company in Daegu, Korea for investment promotion in the field of precision mechanics in the Da Nang Hi-Tech Park.
At the meeting, Mr. Lee Ho Sung, President of Acro Eng Co., said that the company currently holds 70% of the market share of precision cutting blades used in industrial production in Korea and is supplying to markets worldwide such as Korea, Japan, China, the US and Germany. He expressed that the friendly cooperative relations between Daegu and Da Nang as well as the yound and skilled labor force in Da Nang are the main factors attracting him to expand business production in the Da Nang Hi-tech Park. The company also proposed to coordinate with Da Nang College of Technology and Da Nang Vocational Training College in scientific research and training activities. On behalf of the delegation, Mr. Nguyen Van Phung, Director of Da Nang Department of Finance, expressed his impression of the company's business achievements. According to Mr. Phung, precision mechanics is one of the supporting industries into which the city is attracting investment. In addition to creating favorable conditions for the project to be licensed and implemented in the city, he also expected Acro Eng Co. to assist the city in enhancing teaching quality at Da Nang Vocational Training College.
In Seoul, on September 12th, the Da Nang delegation visited and worked with potential investors in real estate - commercial sectors such as Lotte E & C Company under Lotte Group and Daehan A & C Company.
Being the fifth largest corporation in Korea with 2016’s turnover of $US 90 billion, Lotte Group has become widespreadly presented in Vietnam with well-known brands such as Lotte Mart, Lotteria, Lotte Cinema ... Lotte E & C Co. primarily operates in the fields of construction, architecture, housing and real estate development. In Vietnam, Lotte E & C Co. has developed a handful of outstanding projects such as Ha Noi Lotte Center Building, Yen Vien - Lao Cai railway upgrading project, the A1 and A4 components of Da Nang - Quang Ngai highway. Executive Vice President of Lotte E & C Co., Mr. Han Yongsoo who is in charge of foreign investment expressed his interest in investment opportunities in the field of high-end condotels, malls, infrastructure facilities (seaports, railways…). In the afternoon of the same day, Daehan A & C Company presented the investment project of Underground entertainment park - Lotus Square in Da Nang. At the meeting, Vice Chairman Ho Ky Minh City and representatives of the city’s departments provided the detailed information related to the mentioned investment proposals, and committed to support investors, guaranteeing favourable investment procedures (project tendering and land tendering) for the projects.
