The Danang Industrial Park or Danang IP is a Malaysian-Vietnamese Joint Venture that was established in 1993. It is developed and managed by MASSDA Joint Venture Corporation, which is co-owned by MASSCORP-Vietnam Sdn Bhd and Danang Investment and Development Fund (DDIF). DDIF is a state financial organisation which was established with the purpose of receiving budget funds, mobilising funds from foreign and local organisations and individuals for investing in the development of socio-economic infrastructure of the city.

Danang City’s strategic and central location in the centre of Vietnam offers investors distinct inherent advantages. It is the third largest city in Vietnam and is the gateway to Myanmar, Laos, Cambodia, Southern China and North-East Thailand. Danang Industrial Park is bounded by the Ngo Quyen Road from the west and villages on the other three sides that are a source of labour for the park. Tien Sa Sea Port is approximately 7km north of the site and the International Airport and central business district of Danang City are approximately 7km and 2km west, respectively, from Danang IP.

The developer of the zone takes advantage of Malaysian expertise and experience to operate a one-stop centre in collaboration with the provincial Government authorities to provide services to potential investors in all matters ranging from investment licence applications to construction of the factories and recruitment of workers. Malaysian directors regularly visit the zone to provide hands-on input in the management and administration of the zone. The uptake of industrial land in Danang Industrial Park has achieved 98% to-date with 43 investors ranging from garment producers, industrial gloves, ICT, candle manufacturers, medicinal lotions, ceramic tiles, shoes, etc as well as service organisations like banks and logistic companies. The park provides employment for approximately 12,000 workers.

In 2008, MASSDA Joint Venture Corporation was re-registered as MASSDA Land Company Limited and was also given the approval to incorporate a residential development on 70,939m2 of land north-east of Danang Industrial Park. The development is a gated community that will feature double-storey link houses, linked villas (semi-detached) and villas with contemporary designs by Malaysian architect and consultants.

The groundworks for the infrastructure development for the residential area commenced in December 2008 and is expected to be completed by April 2009.

Sales of the residential units will be launched soon after. A pre-sale launch registration exercise had indicated keen interest from the public to purchase the residential units. MASSDA Land Company Limited is confident that this residential development, aptly named Fortune Park @ Son Tra, will become a landmark address for Danang City.