Da Nang posts sharp increase in domestic investment

Friday, 2020-04-10 12:53:42
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Da Nang granted business certificates to 1,100 newly established enterprises in the first three months of 2020. (Illustrative image)
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NDO – Da Nang has attracted four investment projects by domestic investors since early this year, with total registered capital of over VND8.6 trillion (US$369 million), 4.72 times higher than the same period last year.

Due to the impact of the COVID-19 pandemic, foreign direct investment (FDI) in the city has slowed down but domestic investment is on the rise.

So far, the city has attracted 335 projects by domestic investors with accumulated capital of over VND112.6 trillion (US$4.83 billion).

Meanwhile, the city attracted nearly US$83.5 million worth of FDI capital in the first quarter of this year, lower than expected. The pandemic has interrupted a series of large projects with registered capital totalling hundreds of millions of US dollars.

A bright note is that the disbursement of FDI capital in the first quarter of this year reached VND1.79 trillion (US$76.78 million), a year-on-year increase of 92.1%.

Several large FDI projects licensed in 2019 have made large disbursements in the first quarter of this year, including the Sunshine aerospace components plant at the Da Nang Hi-Tech Park and the Mikazuki Spa & Hotel Resort project.

Da Nang granted business certificates to 1,100 newly established enterprises in the first three months of 2020, with total registered capital of VND6.01 trillion (US$257.8 million), down 22% in terms of number of enterprises and 10% in terms of registered capital.