From the Middle: Danang's Profile Rises as Investors Move In - Vietnam Briefing News
July 30 – Located in the middle of Vietnam, Danang is the country’s fourth largest city and in recent years has become the commercial and industrial hub of central Vietnam.
As one executive, the chairman of software development company Enclave has commented in the San Jose Mercury News, Danang is the Ho Chi Minh City of 10 years ago, a rising economic power. Its current 13 percent economic growth rate is higher than the nation’s whole.
The city's advantageous location makes it a prime spot for foreign investment. Danang is connected to Hanoi and Ho Chi Minh City by both highway and rail, and through its port, supports international shipping. Its infrastructure is undergoing great redevelopment with its roads, railway stations, and the international airport all receiving upgrades.
All plans in progress are in accord with the city’s socio-economic development plan for 2010, an impressive strategy to transform Danang into a prime economic and cultural center of Vietnam. The plan includes objectives of improving the city’s industries, trade, tourism, and general infrastructure. Authorities also seek to reform the city’s agricultural expansion as well as encourage social, rural, and urban advancement. Enhancement of education and healthcare are also expected in addition to improved scientific and technological development.
Most recently, the Vietnamese prime minister, Nguyen Tan Dung, has confirmed governmental action to draw tourists to Danang. Relative transportation projects include ongoing work on the international airport.
At a more comprehensive level, Nguyen indicated that the city should make the most of its deep-water port and extensive human resources to attract greater foreign investment. He also suggested that Danang focus on industrial production and exports as well as on employee training.
In the first half of this year, the city’s exports reached US$399.5 million while foreign investment totaled US$743 million, a sum nearly eight times greater than the amount over the same period in 2007. And thus, the improving economy of Danang has also seen over 17,880 newly created jobs as well as about 2,2000 families delivered from poverty.