Semiconductor industry hoped to attract half of FDI investors in Da Nang

Hanoi: Some potential investors are exploring investment chances in central Da Nang city, and its Hi-Tech Park and Industrial Zones Authority (DHPIZA) hopes that 50% of those FDI businesses will invest in the local semiconductor industry this year.

Nearly 260 million USD in investment was poured into the Da Nang Hi-Tech Park in 2023, the DHPIZA said, noting that many challenges are predicted for 2024 and beyond, but it hopes the firms who are planning to invest in the city and learning about the local market will make decisions this or next year.

DHPIZA Director Vu Quang Hung told the Lao dong (Labour) daily that the semiconductor industry is among those benefiting from preferential treatment at the Da Nang Hi-Tech Park.

The authority is giving preferential policies to three industries, namely semiconductor, high-quality health care, and aerospace. All investors coming to the city will receive the DHPIZA’s assistance in terms of administrative procedures, time, and coordination with local departments to le
arn about the market, he went on.

He revealed that in 2024, Foxlink of Taiwan (China) is set to pour 400 million USD into the second phase of its electronics factory while the ICT Vina Co. Ltd, invested by the Republic of Korea, will channel some 277 million USD into its project at the Da Nang Hi-Tech Park. Some other semiconductor businesses of Taiwan and Japan are also considering the local environment to make investment decisions.

The DHPIZA expected about 50% of FDI businesses investing in the park this year are semiconductor ones, Hung added.

At a meeting held in mid-February, Secretary of the municipal Party Committee Nguyen Van Quang asked the DHPIZA to pay more attention to attracting investment to the electronics, semiconductor, and medical equipment industries.

He said Da Nang is reviewing the zoning plan of the Hi-Tech Park, resolutely revoke land from the firms not implementing their projects, and make thorough preparations for expanding this park in the second phase to make room for future in

Source: Vietnam News Agency