BENEFITS IN INVESTMENT IN DA NANG CITY, VIET NAM
Danang city is social–economic hub of Central of Vietnam and it lies on the north-south communications axis of land route (National Road 1A), rail, seas and air routes. Danang borders Thua Thien - Hue Province in the north, Quang Nam Province in the south and the west, and the Eastern Sea in the east. With some advantages, Da Nang is the ideal place for investment...
Danang city is social–economic hub of Central of Vietnam and it lies on the north-south communications axis of land route (National Road 1A), rail, seas and air routes. Danang borders Thua Thien - Hue Province in the north, Quang Nam Province in the south and the west, and the Eastern Sea in the east. With some advantages, Da Nang is the ideal place for investment:
1. Reducing the administrative barriers to investment:
The business and investment climate and policies in Danang have been continuously improved to offer the best conditions to investors. Danang was ranked number one in the Provincial Competitiveness Index (PCI) Survey in 2008 - 2010 and 2013 - 2014 and 2015-2016 among all cities/provinces in Vietnam. PCI is a joint effort by the Vietnam Chamber of Commerce and Industry and the Vietnam Competitiveness Initiative, funded by the U.S. Agency for International Development (www.pcivietnam.org).
2. Rich Human Resources
Around 60% of the population in Danang is under 25 years of age and approximately 12% of the population is considered to be trained or skilled (with elementary qualifications or higher). It is an advantage of the city for attracting investments.
Furthermore, as the Central Region’s education hub, Danang offers diverse and comprehensive training services to nurture students with knowledge and different skills to meet the demand of businesses in Danang and Central Vietnam (25 Universities and colleges; 19 Professional secondary schools; 59 Vocational centers). These will supply the golden human resources in the long term.
Generally, foreign investors with established presences will need to open a bank account in order to conduct their business in Viet Nam. In DA Nang, there is a wide range of banks, including foreign and domestic banks, then the investor then have plenty of choices to make the transaction of transferring the money in and/out of Vietnam.
4. Best place to work and enjoy life.
The infrastructure in Danang has developed over recent years and it is in a prime location in the central region as it boasts convenient transportation via roads, railways, airways, waterways and seaports. And the local government is continuing to build more and more the transportation to connect well with other provinces in the central and in the North and South as well.
Besides, Danang hosts many festivals, including Danang International Fireworks Festival, Danang International Marathon, traditional Vietnamese singing such as Hat Tuong, Bai Choi, etc. So after the stressful working, the investor can discover the rich culture in Danang.
DB Legal is a professional legal consultant based in Da Nang, Viet Nam. We bring enormous experience to set up a company and support general business needs for both local and foreign parties in Central Viet Nam, mainly areas in Da Nang, Hoi An, Nha Trang, Hue, Quy Nhon ,etc..
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