On September 10, 2024, Ms. Sarah Hooper, Australian Consul General in Ho Chi Minh City, had a meeting with Ms. Nguyen Tuyet Mai, Deputy Director of the Investment Promotion Agency and Mr. Le Minh Tuong, Deputy Director of the Department of Planning and Investment of Da Nang City. The meeting outlined the overall picture of the Australian investment situation in Da Nang and focused on investment opportunities that are Australia's strengths that Da Nang City wishes to attract investment.
The Consul General said that recently, Vietnam and Australia have organized many activities to celebrate the 50th anniversary of establishing diplomatic relations. The upgrading of the two countries' Comprehensive Strategic Partnership from March 2024 is a good opportunity for Da Nang City to promote attracting investment from Australia. The Australian Government has established the Investment Deal Team in Ho Chi Minh City to identify opportunities and support, facilitating the overseas investment process for Australian investors.
According to the leader of the city's Department of Planning and Investment, Australian foreign direct investment (FDI) in Da Nang is still limited. By September 2024, the city had attracted 34 FDI projects from Australian investors with a total investment capital of about 12 million USD. Based on the good cooperative relationship between the two countries, there is still much room for investment cooperation between Australia and Da Nang that needs to be further explored in the coming time. IPA Da Nang will work closely with the Investment Deal Team to deploy a One-Stop Support Service for Australian investors during the research and implementation of projects in Da Nang.
Australian Consul General in Ho Chi Minh City took a photo with leaders of the Department of Planning and Investment and IPA Da Nang
The National Assembly has passed Resolution 136/2024/QH15 on the organization of urban government and piloting specific mechanisms and policies for the development of Da Nang city, opening a "runway" for Da Nang to "take off" on its journey of socio-economic development, creating a legal corridor for the city to develop a Free Trade Zone. Of the three sub-zones of the Free Trade Zone, the manufacturing sub-zone could be a potential investment destination for Australian investors. Da Nang City wishes to become an investment destination for Australian companies in the fields of high technology, information technology, innovation, yacht, healthcare, education, wine packaging, etc.
It is known that during the working program in Da Nang, the delegation will have working sessions with the City People's Committee within the framework of the Project "Eliminating Violence against Women and Children in Vietnam 2021-2025" (EVAWC) funded by the Australian Department of Foreign Affairs and Trade (DFAT); work with the Ho Chi Minh Academy of Politics Region III, the Da Nang Center for Supporting Innovative Startups, SunGroup Corporation, FPT University in Da Nang, etc. to implement many other cooperation programs in Da Nang City.
(IPA Da Nang)
