As one of the five largest cities directly under the Central Government, Da Nang plays the role of an important service, trade, seaport and transport hub in the Central region and Central Highlands regions. Given its developed infrastructure, peaceful living environment as well as favorable investment and business conditions, Da Nang has been increasing its position and attracting many people both at home and abroad to choose to live and study in Da Nang. In addition, the city's economy is growing steadily with the people's quality of life increasingly improving, making the need to invest in education, enhance knowledge and international integration skills for the future generation become more and more essential. These factors contribute to increasing the special attention of the City Government, residents and investors in calling for and investing in more high-quality and international-standard education projects in Da Nang city.
Why choose to invest in Da Nang
Da Nang attracts many investors to expand their business because of its competitive advantages in strategic geographical location, developed infrastructure, high-quality human resources, pro-business and investment environment and ideal living environment. As the eastern gateway to the Pacific Ocean of the East-West Economic Corridor, Da Nang's geographical position is strategic that it can be connected to major economic centers in the world such as Hong Kong, Singapore, Malaysia, etc. via many forms of transportation. Also being located in the middle of the country, Da Nang is an important hub of Vietnam in terms of road, air, sea and railway.
Given the developed and well-invested infrastructure of Da Nang city, it creates favorable conditions for the development of economic, investment and tourism activities. Da Nang International Airport is one of the three largest and most modern international airports of Vietnam with a designed capacity of 15 million passengers a year, it is expected to expand the airport terminal to increase the capacity to 30 million passengers a year by 2030. Da Nang seaport is a modernly equipped container port in the central region and one of the largest commercial ports in Vietnam. The current capacity of Tien Sa seaport reaches 12 million tons/year, receiving international ships to Hong Kong, Singapore, Japan, Taiwan, Korea, Europe, America and other countries around the world. Currently, the city is calling for investment to build a new Lien Chieu port with a capacity of 50 million tons/year by 2030, after the construction is completed, the new port will replace Tien Sa port. Besides, the city's production infrastructure currently has 01 Hi-tech park with an area of 1,129 ha, 03 IT parks, 06 industrial parks in operation with a total area of 1,100 ha and 03 new industrial parks with a total area of 850 hectares is calling for infrastructure investment.
The developed and well-invested infrastructure of Da Nang city creates favorable conditions for the development of economic, investment and tourism activities
Accounting for 51% of the total population of the city, the labor force in Da Nang is well-trained and qualified to meet the needs of businesses in the city and the central region in general. Labor productivity and average income have steadily increased over the years. Moreover, the investment and business environment here is favorable for businesses to set up business when administrative procedures at all levels are applied the "one-stop shop" model and are publicly listed, simplified and transparent with the processing time is significantly shortened.
Besides, Da Nang has an ideal living environment with fresh air, green trees, safety and friendly people. For many years, the city has been on the list of top worth living and investment destinations of world rankings with full living facilities such as international schools, international hospitals, commercial centers, entertainment and golf course. In particular, moving around the city is very convenient with travelling time less than 10 minutes and less traffic jams, almost no pollution and moderate cost of living.
Da Nang is the education and training hub of Central Vietnam
In terms of educational facilities, the number and quality of training institutions in Da Nang city are not only enough to meet the learning needs of students in the city, but also for the Central and Central Highlands regions. Currently, there is the University of Da Nang, including 06 member universities and faculties and research institutes; 09 private universities; 18 colleges; 70 vocational training schools; 401 schools at all levels from preschool to high school and 255 English centers. Every year, more than 20,000 students graduate, contributing to the high-quality and skilled resources for the job market of Da Nang in particular and the Central region, the country, and the world in general.
Meeting the needs of international standard education, there are now more than 9 international schools in the city that offer programs for all levels from preschool to university, teaching high-quality programs, international integration, bilingualism, etc. Some international schools operating in Da Nang include: American International School APU, Singapore International School SIS, University of Greenwich, VNUK Vietnam - UK Research and Training Institute, Skyline International School, Kindergarten International Fuji Infinity, etc. In addition, universities in the city have signed many international joint training programs with leading universities in the world to meet the high-quality learning needs of students.
Da Nang is the education and training hub of Central Vietnam (Source: Internet)
Many investment opportunities in high-quality education in Da Nang
Inheriting the existing network of training facilities, Da Nang is considered as a locality with a lot of potential to develop education and training for not only within the city but also for neighboring provinces. Moreover, the demand for high quality education is increasing day by day when the trend of choosing schools for children has changed significantly.
Specifically, in 2021, Da Nang city's GRDP reached US$4.58 billion, 10 times higher than the city's total product in 2010 (US$0.4 billion). Per capita income in 2021 reached 3,753 USD, 2 times higher than 2010's per capita income of 1,709 USD. This shows that the living standard of people in Da Nang has doubled and the ability to pay for quality education is steadily increasing. When living standards are improved, parents will be more interested and choose to invest in their children's education, so the need to enroll their children in private schools and international schools is increasing. Statistically, in recent years, the demand to attend private schools has increased sharply when the number of students enrolled in private schools in 2020 reached 8,445 students, double the number of students attending private schools in 2016 of 4,000 students, 3 times the number of students enrolled in private schools in 2012.
Regarding investment costs for international education, parents will have to spend nearly US$ 80,000 million annual tuitions for their children to study abroad, not to mention living expenses. Meanwhile, enrolling in an international school in Da Nang with the same quality and degree only costs from US$ 3,000 – 23,000 million for a school year. Furthermore, the cost of living is much cheaper and students are able to spend time with their family.
The outbreak of the COVID-19 epidemic is also a reason why parents are hesitant to send their children abroad to study since the epidemic has not been thoroughly controlled, new strains appear continuously and some countries still apply measures to close borders and isolate COVID-19 patients. These factors have greatly influenced the decision of parents, in favor of choosing high-quality schools, international schools in the country instead of studying abroad.
Investing in a high-quality, international-standard school project in Da Nang city is opening up many opportunities for investors
(Source: Internet)
Currently, the population of Da Nang city is about 1,195,490 people with an annual growth rate of 2.22%, of which the population under 24 years old reaches nearly 500,000 people, accounting for 40% of the city's population. It is forecasted that by 2030, Da Nang's population will reach more than 1.5 million people with a population growth rate of 2.95%. The number of students studying at all levels from preschool to high school reaches more than 270 thousand students, of which primary school students make up the majority with nearly 110,000 students (reaching 40% of the total number of students).
In addition, as a dynamic city, aiming for comprehensive international integration, Da Nang always welcomes foreigners to Danang city to invest, work, travel and study. In recent years, the number of foreigners coming to the city to live and work tends to increase, reaching 4,800 in 2021. According to a report on the management of activities involving foreign elements in the city in the first six months of 2022, the total number of foreigners registered for temporary residence in the first six months of 2022 is 75,887 arrivals, an increase of 31,124 arrivals. (up 69.53%) compared to the first 6 months of 2021. Foreigners come mainly from Korea (17,575 people), the US (7,898 people), Japan (5,485 people), Australia (3,095 people), Britain (2,734 people), etc. This basically shows that Da Nang is being favored as a destination for foreigners to travel and work in short and long term. As a result, the study needs of foreigners in Da Nang also grow.
Central Vietnam consists of 19 provinces and cities in the North Central Coast, South Central Coast and Central Highlands with a total population of about 27 million people. Da Nang has a strategic location located in the center of Central Vietnam, bordering and close to provinces such as Thua Thien Hue, Quang Tri, Quang Binh, Quang Nam, Quang Ngai, and Binh Dinh. The population from Quang Binh province to Binh Dinh province reaches nearly 7 million people and for a long time, students from these provinces and cities tend to move to Da Nang to seek opportunities to study at quality training schools.
In general, investment in international education in the neighboring provinces of Da Nang has not yet flourished and is rather limited. According to statistics, from Quang Binh province to Binh Dinh province, there are presence of more than 20 international schools, Da Nang accounts for 50%, the rest is scatteredly distributed in provinces: Quang Binh (1), Quang Tri (1), Thua Thien Hue (1), Quang Nam (5), Quang Ngai (1), Binh Dinh (2). Regarding higher education training, while the population is relatively equal between Da Nang and the six provinces mentioned above, Da Nang city provides the majority of universities and colleges, followed by Thua Thien Hue province with 03 universities and 05 university branches and institutes, Quang Ngai 03 universities, Quang Nam and Binh Dinh have 02 universities, Quang Binh 01 universities and Quang Tri 01 university branch.
With the ambition to create a knowledge-academic ecosystem in Da Nang and Central Vietnam, the city has issued many policies focusing on the development of educational infrastructure and are preparing land funds to call for investment in high-quality, international-standard education projects in the city. In the orientation of the city's plan to 2030, with a vision to 2045, Da Nang city aims to develop into a center for start-ups and innovation, focusing on developing high-quality labor resources in the field of high-tech industry and high-quality service. City leaders always pay attention and focus on providing solutions and mechanisms to focus on improving the quality of resources, training the young generation. Accordingly, the city focuses on training key occupations such as Engineering (Electronics and Telecommunications, Automation, Biotechnology, Mechanical, etc.), Information and Communication Technology, Medicine - Pharmacy, High quality tourism and Finance – Banking.
Grasping the increasing demand for high-quality, international-standard programs of not only parents in Da Nang city, students in neighboring provinces, but also the expat community and businessmen coming to Da Nang to work and settle in the long-term, along with the development orientation and priority policy of the city government for the field of education and training, investing in high-quality, international-standard school projects in Da Nang City is opening up many opportunities for investors.
Advantages of investing in international education in Da Nang
In recent years, the city government has implemented many solutions to build a favorable business - investment environment and optimal living conditions for people, businesses and investors. The city government is always committed to improving the investment - business environment and policy mechanisms in a dynamic and efficient manner. For instance, implement numerous programs to support businesses and investors in the process of establishing and expanding projects in the city; reform administrative procedures and simplify the process through one-stop service in the issuance of Investment Registration Certificates and Business Registration Certificates at the Department of Planning and Investment and the Management Board of the Hi-Park and Industrial zones; one-stop service at Da Nang Investment Promotion Agency to receive investment proposals, provide support services such as surveying investment locations, consulting procedures, investment processes, partnership connection, etc.
Pro-business and investment environment
Keeping up with the pace of technology development, Da Nang has focused on digital transformation and strongly applied information technology to the work environment, such as deploying the use of e-government (egov.danang.gov.vn), creating online registration conditions for business registration, customs, tax declaration; setting up a hotline, direct FAQ section on the City Portal.
In addition, the city government takes responsible for the compensation, site clearance and resettlement for people in the project area; supply of electricity, water and other utilities to the project area; promote business connections, develop markets and organize periodic dialogues between city authorities and businesses
In summary, Da Nang is not only a potential investment destination for businesses, domestic and foreign investors in general, but also a potential destination for investment in high-quality education in particular with many opportunities and advantage.
IPA Da Nang
