Since being placed directly under the Central Government in 1997, Danang City has shown steady steps of development growth to be one of the economic, cultural and technological centres of the Central region and in Vietnam. One of the numerous factors that have contributed to the socio-economic development of the city is investment capital sources.

The ability of the city to attract foreign direct investment can be attributed to its strategic location in the Central region of Vietnam, the infrastructure of its international airport, its deep water seaports, the North-South land routes, its national railways, an abundance of hardworking and highly skilled human resources as well as the Danang City’s authorities commitment to upgrading and investing in industrial infrastructure, improving and streamlining administrative procedures. In addition, the city has envisaged a number of incentive policies and procedures to create a favourable and attractive investment environment, especially in offering free undertaking land clearance and offering competitive land rental prices. One of the major steps taken to create favourable conditions for investment activities in Danang is the establishment of the Investment Promotion Centre and the promulgation of a one-stop shop policy to promote domestic and foreign investment as well as to facilitate investment licensing in Danang City.

As of end 2008, the city has licensed 147 FDI projects with a total capital of USD2.5 billion. Most of the projects are in real estate, tourism services and industrial manufacturing. FDI projects have contributed considerably to innovating local technologies, diversifying more business lines and new products, expanding markets, as well as boosting export value and creating tens of thousands of jobs for local labourers.

The city’s achievement of topping the 2008 Provincial Competitive Index has proven that the business and investment environment of Danang is one of the most attractive and investor-friendly places for business in the country. Several landmark projects, namely Danang World Trade Centre, Indochina Riverside Tower, Da Phuoc international new town, Jade Residence Danang Centre, Golden Square, Far East Meridian and True Friends Park, have contributed significantly to changing the face of the city.

Presently, Danang has six main industrial zones, namely Danang, Hoa Khanh, expanded Hoa Khanh, Lien Chieu, Hoa Cam and Danang Tho Quang seafood processing and marine services, covering a total land area of more than 1,400 hectares. The infrastructure in these industrial zones has been improved to meet the requirements of local and foreign investors. Additionally, Danang City is encouraging investors to develop the infrastructure of a new industrial zone in Hoa Khuong with a land area of 500 hectares and more importantly a hi-tech industrial park with a total area of 1,400 hectares to attract investment in the high-tech sector which includes information technology, electricity, electronics, advanced materials, automation, bio-technology, etc.

On 27 March 2009, the Danang Investment Danang 2009 Forum at the Hi-tech Industrial Park was organised by the Danang City People’s Committee. This was a great opportunity for the city’s authorities and potential investors to exchange views on the investment environment in the high-tech development pathway for Danang and especially essential incentives to attract investment in hi-tech industrial sectors.