FDI INFLOWS INTO DANANG SOAR NINEFOLD IN AUGUST

A bird’s eye view of Danang City - PHOTO: VNA

HCMC – Danang attracted US$94.9 million in foreign investment in the first 20 days of August, more than nine times the level a year earlier.

The August inflows were driven mainly by 10 newly licensed projects worth US$94.8 million. The city also recorded three cases of capital contributions and share purchases in local firms totaling nearly US$0.1 million, while no existing projects adjusted their capital.

From January 1 to August 20, total FDI into Danang reached US$333.3 million.

This included 72 new projects with registered capital of US$225.9 million, 24 projects adjusting their capital by a combined US$86 million, and 29 cases of capital contributions or share purchases worth US$21.5 million.

On the domestic side, Danang drew VND77.39 trillion in investment in the first 20 days of August, consisting of three new projects worth VND1.99 trillion and one project that raised its capital by VND75.4 trillion.

In the January-August period, total domestic investment reached VND140.47 trillion, including 72 newly licensed projects worth VND46.023 trillion and 27 projects with capital increases totaling VND94.447 trillion.

According to Danang People’s Committee Chairman Luong Nguyen Minh Triet, the city is cementing its position as an attractive investment destination thanks to its strategic location, gradually improved infrastructure, young and dynamic workforce, and increasingly open policy environment.

With a focus on attracting high-quality capital inflows, the city aims to take the lead in developing the digital economy, building a smart city, and promoting green growth.

Source: The Saigon Times