Benefits setting up company in Da Nang | ANT Consulting

 Da Nang – one of the strategic economic centers of Vietnam’s central region

The Vietnam prime minister has established central region’s strategic economic center, including 05 provinces and cities: Thua Thien Hue, Da Nang, Quang Nam, Quang Ngai and Binh Dinh to promote potential, geographical location and competitive advantages and step by step develop this economic region to become one of the most dynamic economic region in the country. In particular, Da Nang is defined as the role of nuclear motivation for promoting the development of the central region and the highlands.

Da Nang – eastern gateway of east – west economic corridor (EWEC)

EWEC is one of five economic corridor developed by the initiative of the Asia development bank in the greater Mekong sub – region.

Currently, the road system in Laos, Thailand and the road line from Da Nang to Savannakhet are completed. The second international bridge spanning the Mekong river was completed in the end of 2006 to facilitate the circulation of goods and passengers by road line from Da Nang to the northeastern provinces of Thailand and vice versa. East-west economic corridor not only provide an opportunity for the country on the path of promoting regional cooperation and improve living standards for the people but also enable businesses better access to the raw materials market services, capital, labor and technology with the purpose of creating favorable conditions for investment and trade across the border and diversifying economic activity and exports and promoting tourism development

Da Nang – entrance of the cultural heritage and natural wonders of the world

Da Nang is located in the heart of the “world heritage road”, stretching from the central coast of Vinh city to Da Lat city. From Da Nang, along the national highway 1A, visitors can access quickly and conveniently four of five world heritages in Vietnam, including Phong Nha – Ke Bang national park (about 300 km from the north of Da Nang), the ancient capital of Hue (about 100km from the north), Hoi An (about 30km from the southeast) and My Son (about 70 km from the southwest).

With the advantage of geographical location and potential economic development in tourism, Da Nang is an ideal destination for tourists as well as investors.

Infrastructure is step by step improved

Da Nang is an important traffic hub of the central – highlands and country with system of international airports, deep sea ports, roads, north-south railways developed conveniently.

Da Nang port is the third largest commercial ports in Vietnam after Saigon port and the port of Hai Phong. With a depth of 11m wharf, warehouse systems and equipment upgraded by capital funds of the government of Japan, Da Nang port can receive ships with a capacity of 45,000 dwt and others such as container ships, passenger ships, cargo ships. Da Nang is the international shipping route enabling to go to Hong Kong, Singapore, Japan, Taiwan and Korea.

Da Nang international airport is one of the three best airports in Vietnam. In addition to domestic flights, there are weekly international flights directly from Da Nang to Singapore, Bangkok, Taipei. In the near future, the airport will open more routes to Hong Kong, Japan and Korea. Da Nang international airport is currently being upgraded and expanded to meet the needs of increasing passengers and cargo.

The system of roads in and out of the city are constantly being expanded and newly constructed

Telecommunication systems: Da Nang is one of three major Telecommunication centers of the country, international transmission speed with good quality of Southeast Asia. Da Nang post provides various and modern telecommunication services and be capable meeting the needs of customers.

The other services supporting investment (financial, banking, insurance …): most banks and finance companies of Vietnam have large branches in Da Nang. Some branches of foreign banks and international insurance companies are operating effectively in the city. These services have increasingly been improved better to meet the needs of investors.

Trained and abundant human resources

Da Nang has abundant human resources (over 50% of the population of the city), mostly young labor. Number of employees with technical expertise trained account nearly a quarter of the labor force. Labor costs in Da Nang are lower than some other cities in the country.

Da Nang is one of the provinces in the country with the high educational development index which create a favorable platform for the development of human resources of the city to perform the goal of improving the quality of human resources, quality of life. The city has about 14 universities, 15 colleges and professional schools with nearly 140,000 students. This system performs training in most areas of science, engineering, information technology, economics, business administration, language and pedagogy… Danang university also cooperates with universities of countries with an advanced education such as France, US, Japan, Australia, Canada, New Zealand …

Software technology center in Da Nang is one of the leading software producers in Vietnam and is the leading training center of the central region. Over the years, the software technology center has cooperated closely with companies of India (aptech) and Japan (aots) to train programmers, technicians and engineers reaching the international standard. Many IT company has chosen Da Nang to set up company in da nang to hold their talents for international projects.

In addition, the city also has about 55 vocational training centers which often provide short-term training courses in computer science, sewing, mechanics, electricity – electronics, construction techniques, etc …

Quality of life

Along with the process of urbanization, economic growth in recent years has helped to material life and spirit of the people of Da Nang continuously improved.

Unlike other large cities in Vietnam, next to the bustle of urban development, living in Da Nang always bring a sense of peace, comfort and closeness to nature. Da Nang is one of the very few cities in Vietnam having a harmonious combination between high mountains, deep forests, long beach, deep river. After work, you can easily find space to relax beside the river or on beautiful beaches.

Da Nang today is a city with a healthy cultural environment, with urban civilized lifestyle, literacy levels elevated, beautiful natural scenery. It can be said that Da Nang is an exciting place to live, work, travel and invest in Vietnam.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

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Da Nang promotes the development of Science and Technology

According to a report by the Ministry of Science and Technology, in 2019, the Science and Technology industry has achieved GDP growth of 46.11% and the labor productivity growth rate of 6.2%, these are achievements of Science and Technology of Vietnam in 2019. To continue the development of Science and Technology, Da Nang has set a goal of developing science and technology, focusing on the goal of improving the capacity of innovation by attracted the domestic and foreign investors to set up company in this fields in Da Nang.

In recent years, with efforts in Science and Technology development, Vietnam has achieved certain achievements in the fight against epidemics and bringing the economy back to stability. At the same time, Science and Technology achievements have been flexibly applied, promoting the basis of the digitized Vietnamese knowledge system in developing epidemic maps using Vmap, detecting people at risk of infection at tourist destinations, construction of medical declaration software. In the meantime, Vietnam has been effectively mobilizing science and technology representative networks in countries to connect research groups, exchange and test equipment, technologies and products for prevention and control of epidemic; promote public-private cooperation in conducting research tasks.

In addition, according to the content of Resolution No. 50/NQ-CP dated April 17, 2020 on the Government’s action plan to implement Resolution No. 52-NQ/TW dated September 27, 2019 of the Politburo on number of guidelines and policies actively participated in the Fourth Industrial Revolution, the Prime Minister has issued the policies to improve national innovation capacity.

In particular, the Prime Minister requested the Ministry of Science and Technology to conduct research, review and propose a comprehensive restructuring plan for the system of public scientific and technological research facilities. Building and developing national innovation centers, focusing on the key technologies of the Fourth Industrial Revolution. Developing a national innovation system in the direction of being enterprise is the centered, higher education institutions and research institutes as strong research subjects. At the same time, assume the prime responsibility for, and coordinate with units in joint research and development, propose special and breakthrough mechanisms and policies for the construction and operation of innovation centers. Beside, Vietnam has encouraged domestic and foreign universities, businesses and organizations to set up innovation centers in Vietnam.

In Da Nang City, the Department of Science and Technology issued Plan No. 28-KH/SKHCN dated May 12, 2020, focusing on the content of improving the capacity of innovation.

In the coming time, the city Department of Science and Technology will deploy 23 contents on the topic of innovation. In which, 03 contents are implemented in the period of 2020 to 2025 and 16 contents are implemented annually.

In the period of 2020 to 2025, the Department will coordinate with the Ministry of Science and Technology to promote the development of national creative start-up ecosystem to strongly develop startups in the city.

In addition, the Department will advise the implementation of the Projects to build Da Nang into a national innovation and innovation start-up center in the Central region and Highlands of Vietnam. In particular, in the immediate future, the city will focus on building and deploying activities of innovation centers, focusing on the core technologies of the Fourth Technology Revolution. The City People’s Committee issued a plan to implement the City’s Program on “Developing high-tech industry, building Da Nang into a national-level startup, innovation and innovation center, as an urban area in creativity – science – technology of the global and highly competitive”, and plan to implement the Project” Supporting national innovation start-up ecosystem to 2025″ in the Da Nang city.

With the efforts of Science and Technology development with the city’s FDI attraction goals, Da Nang hopes that it will become a destination for Science and Technology investors to set up company doing business in Vietnam.

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In 6 Months, Da Nang Attracted Over 80 Million USD of FDI

In the first 6 months of 2020, Da Nang City has attracted over 13.2 trillion VND of domestic investment capital, more than 80.2 million USD of FDI in Danang.

According to Department of Planning and Investment of Da Nang City, although affected by the Covid-19 pandemic, the situation of attracting investment in the city achieved positive results.

Accordingly, in the first 6 months of 2020, Da Nang has attracted more than 13.2 trillion VND of domestic investment capital, more than 80.2 million USD of FDI capital. In particular, the investment capital for projects outside the Industrial Park has increased to a record, only 4 projects with a total capital of over 10.8 trillion VND, increase by nearly 600%. So far, Da Nang city has 337 domestic investment projects with a total capital of over 115 trillion VND, 855 FDI projects with a total capital of over 3.4 billion USD.

Set-up company in Da Nang

Real estate lawyers in Da Nang

According to Director of Planning and Investment Department of Da Nang, the above result is thanks to the city has well implemented the disbursement of public investment, implemented many motivational infrastructure projects. With more than 12.4 trillion VND of public investment approved for 2020, Da Nang has issued a series of policies to remove obstacles in terms of ground and procedures. A series of motivational projects have been implemented such as roads and bridges crossing Co Co River, West Ring Road 2, Eastern Son Tra district water environment improvement project, Hoa Lien water plant, project to renovate the cluster of intersections west of Tran Thi Ly bridge, Center for neurosurgery, trauma and plastic burns i- Danang Hospital…

Da Nang City has also granted investment certificates for the project of manufacturing synthetic rubber specialized for machine manufacturing, electricity and electronics, Table Table Asia management consulting project, Ubisoft Viet Co., Ltd, Kansei Kindergarten in Danang.

Da Nang City is currently promoting major projects such as Bilingual Intermediate School, International Center for Diagnosis and Treatment, International Hospital for Cancer and Infertility, Getaway Complex with investment of 2 billion USD, Downtown Duty Free project… While also dealing with problems related to procedures of land allocation and land lease related to the Nam O Ecological Tourism projec; Extending the implementation schedule of the FPT Urban Area project; Vinacapital Danang Golf Course project…

In the coming time, Da Nang will focus on organizing well the Investment Forum, expected in September 2020. The city will also promote investment in the form of online, maintain connection with international organizations such as JETRO, KOTRA, AMCHAM, AUSCHAM, SBF, IE Singapore, AHK… to connect businesses, cooperation on investment promotion. The investment attraction orientation of Danang in the coming time will be directed at large, high-tech, modern, environmentally friendly multinational corporations.

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Why Da Nang is a Place for Setting up Business

Da Nang has been creating flexible policies, good environments attracting foreign investors setting up company, building factory, and developing service business.

Da Nang is a social and economic center of central area of Vietnam with the role as the center of industry, trade and tourism and service. It is a seaport city, an important transport hub for the transit of domestic and international transportation. Presently, Da Nang has been rising as a comprehensive and sustainability developing city.

With the advantages of geographical location, people and nature, the leader of Da Nang is planning to build the city becoming a major tourist center of the country, developing tourism industry with entertainment centers and luxury resorts in Vietnam.

In practice, Da Nang has been reducing administrative procedures, creating favorable conditions for investors in obtaining certificate for investment. In the meantime, the city also supports investors understanding the information and maintaining direct dialogue mode with businesses leaders and managers in order to promptly assist any difficulties encountered by investors in the process of project implementation. Da Nang’s leaders are famous in being proactive in providing the latest information about the law in investment, especially information on the process of changing investment certificate… to facilitate the investment plan of the investors whom are investing in Da Nang. For investment projects in infrastructure construction using ODA capital, the city has been quickly implemented the clearance and compensation in time to hand over the project site to the investors as planned.

To ensure the tourism environment and sustainable development, the city focuses on attracting projects in high technology industry, supporting industry and services with high added value i.e. information technology, education, healthcare and logistics…, especially favouring clean and quality projects rather than large projects but are likely to cause environmental issues.

Along with economic development, Da Nang also has activities and measures for environmental protection by investing in building projects to protect and improve the environment such as: modernization the sewer and wastewater treatment system (JICA), building east-west economic corridor (ADB)… to ensure sustainable and long term development of the economy.

An important element for economic development is the local security. Da Nang has done a great job in maintaining public security in order to guarantee investors a stable and safe political, social environment for investors.

It can be seen that Da Nang converges suitable elements and really is a promising land for investors both domestic and international, to invest in entertainment, real estate, tourism, IT, healthcare, education services.

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