Want to be in the loop?
subscribe to
our notification
Business News
DA NANG TO SET UP FOUR NEW IPS
Under the province’s plans, the four IPs are Hoa Nhon, Hoa Ninh, Hoa Son IPs and the second phase of the Hoa Cam IP, with the total area of 1,600ha, one-and-a-half-times the total area of the city’s existing industrial parks.
Hoa Ninh, Hoa Son IPs and the expansion of phase two of the Hoa Cam IP are expected to be completed this year, while Hoa Nhon IP will be finished by July 2017.
The establishment of new IPs aims to solve the city’s problem of less space for the operation of regional firms, which has caused pressure on local authorities, Le Tuan Khanh, head of the Planning and Construction Management Board under the Management Board of Da Nang City Export Processing and Industrial Zone Authority, told Da Nang newspaper.
According to the city’s Association of Small and Medium Enterprises, Da Nang currently has over 17,000 enterprises, in which small and medium-sized enterprises account for some 97 per cent, with registered capital of VND90 trillion (US$3.9 billion), Da Nang newspaper reported.
At present, Da Nang has six industrial parks, with an area of over 1,000ha, but they are fully occupied. Most of the regional firms lack stable production premises and therefore are forced to set up temporary factories in residential areas, which make a lot of noise and affect the residential environment.
In addition to the four new IPs, the city also plans to build eight more industrial clusters to create more space for the operation of micro and small enterprises. Till date, the city DoIT has completed the draft plan on the establishment of industrial clusters to submit to the city’s People’s Committee. Most of the new industrial clusters will be established in Hoa Vang and Lien Chieu districts.
The city’s DoIT was also asked to prepare steps for mobilising investment for the construction of wholesale markets for cattle, poultry and agricultural products in the city. DoIT will select the city’s key industrial products and formulate policies to encourage and promote the brand and for the formation of key industrial enterprises.
Source: VIR
Related News
![Card image cap](/uploads/news/bn-01.jpg)
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.
![Card image cap](/uploads/news/Security.jpg)
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
![Card image cap](/uploads/news/eco2.jpg)
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.
![Card image cap](/uploads/news/Eco3%20%281%29.jpg)
CAPITAL FLOWS STRONGLY INTO INDUSTRIAL REAL ESTATE
Industrial real estate has had easier access to bank credit since July, when the State Bank of Vietnam (SBV) reduced the credit risk coefficient for industrial real estate from 200 per cent to 160 per cent, encouraging commercial banks to lend to more projects in the segment.
![Card image cap](/uploads/news/Eco4.jpg)
GDP GROWTH REACHES 6.42 PC IN FIRST HALF
Vietnam's economy grew by 6.42 pc in the first six months of 2024, slightly lower than the figure of 6.58 pc in the same time of 2022 within the 2020-2024 period.
![Card image cap](/uploads/news/FDI.jpg)
FDI INFLOW INTO VIETNAM REACHES NEARLY 15.2 BILLION USD
Vietnam attracted nearly 15.2 billion USD in foreign direct investment (FDI) in the first six months of this year, a year-on-year increase of 13.1 per cent, according to the General Statistics Office.