Da Nang to boost connections, trade with US investors: Party official

The central coastal city of Da Nang hopes to boost links and promote trade with US investors and enterprises, affirmed Secretary of the municipal Party Committee Nguyen Van Quang while receiving visiting US Ambassador to Viet Nam Marc E. Knapper on April 22.
Da Nang to boost connections, trade with US investors: Party official
Secretary of the Da Nang Party Committee Nguyen Van Quang (second from right) receives Marc E. Knapper, US Ambassador to Viet Nam. (Photo: baodanang.vn)

Quang asked the diplomat to facilitate US investment in tourism and services, IT and finance in the city.

Knapper praised Da Nang’s attraction to investors and stated the embassy wants to coordinate with municipal authorities in luring investment in the city.

On the same day, Knapper’s delegation met with Standing Vice Chairman of the municipal People’s Committee Ho Ky Minh, who outlined the city’s tourism recovery.

Knapper expressed his focus on a project to build a regional financial centre in Da Nang. When the project begins, US financial and IT businesses will eager to channel their capital into the city, he said.

Also on April 22, the US Department of Agriculture (USDA)’s Foreign Agricultural Service, together with the American Chamber of Commerce in Da Nang, held an expo on US food and beverages to introduce them to the local business community.

According to Knapper, Viet Nam is currently the 8th largest export market for US food and farm produce, while the US is Viet Nam's biggest export market. Bilateral agricultural trade more than doubled from 4 billion USD in 2011 to 9 billion USD in 2021.

Statistics of the Da Nang Department of Foreign Affairs showed that the US is currently ranked 3rd among more than 50 countries investing in the city, accounting for about 16 percent of the total registered capital. Currently, US investors and joint ventures are operating 61 projects worth 700 million USD in Da Nang.

The central economic hub has so far signed pacts to set up an official cooperation relationship with three US cities – Oakland (California), Pittsburgh (Pennsylvania), and Houston (Texas).

Viet Nam, China finish joint sea patrol
VNA to launch special website on SEA Games 31
Da Nang moves to exploit tourism potential of Son Tra Peninsula
Five major cities to limit use of motorbikes after 2030
Da Nang calls for investment from Samsung Vietnam
(Source: VNA)