Complete 1st Stage of the Information Technology Zone in Danang

On January 6^th 2020, the Prime Minister issued Decision no.27/QD-TTg on establishing the information technology zone in Danang – Stage 1, effective from January 6^th 2020. Specifically, the Danang information technology (IT) zone – Stage 1 has an area of 131 hectares, located in Hoa Lien commune, Hoa Vang district, Danang city.

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The Ministry of Information and Communications shall assume the prime responsibility and coordinate with the ministries, branches, Danang People’s Committee and concerned units in guiding the implementation of the decision; The Ministry of Planning and Investment was assigned to assume the prime responsibility for, and coordinate with the Ministry of Finance and the Ministry of Information and Communications in, balancing the allocation of investment capital to support investment in and construction of infrastructure of Danang centralized IT Park according to law provisions.

Besides, the People’s Committee of Danang has 5 tasks including approving the organizational structure and operational regulations of the Danang central IT Management Group, then performing the state management function for the investment projects in the centralized IT zone, and prioritizing the allocation of development investment capital from the state budget for investment in infrastructure development connecting to Danang centralized IT Park – phase 1 and non-business social infrastructures in the area. Therefore, developing the plans and synchronously deploy solutions to attract foreign corporations and large domestic enterprises in the fields of IT, electronics and telecommunications to invest in Danang centralized IT Zone and set up company, apply for investment registration certificate. Finally, directing and organizing the levels of local governments and functional agencies of Danang city in cooperation with Danang IT Park development joint stock company to implement the construction, management to IT zone focus on Danang to develop in the fast and sustainable way.

Danang IT Park is entitled to preferential policies for centralized IT zone as stipulated in the Article 22 Decree no.154/2013/ND-CP to attract the investors to invest and set up business in Da Nang IP park, such as: Preferential corporate income tax for 15 years with tax exemption policy for the first 4 years, 5% for the next 9 years, 10% for the next 2 years and tax incentives after 15 years of operation is 20-22%. Moreover, exemption of import tax for imported goods to create fixed assets, raw materials, machinery and equipment that cannot be domestically produced to serve the production of IT products and IT services of enterprises; 50% reduction of payable personal income tax on income from salaries and wages of high-tech human resources working in IT. In addition, site clearance and infrastructure investment in Danang IT Park- stage 1 will be supported by government and local budgets in accordance with the law, master plan on development of centralized information technology zone approved by the Government. The Danang IT Park – stage 1 will also receive investment credit loans at Vietnam Development Bank for investment.

In the future, domestic and international investors need to update the progress when making investment in the IT sector as well as seizing the investment opportunity, to be able to enjoy the best incentives that Danang set for IT sector in the city with aim to develop a green city to attract the investment that need talents in IT.

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Danang city Meeting the First Korean Consul General in Central Region

On December 16^th, 2019, Danang City held a meeting with the new Korean Consul General Mr. Ahn Min Sik, the first Korean consul general in Central Region of Vietnam. Currently, Danang is a city that attracts a large number of Korean people to travel, live and invest to set up company. Therefore, the establishment of the Korean General Consulate in Danang is an opportunity to further expand the friendly relationship between the two countries.

In addition, the representative of Danang city also expressed his desire to attract more Korean investors in such fields as tourism, high technology, information technology and other industries. And the city has also leveraged the strengths and advantages in socio-economic development of the city in recent years. The city also hopes that the establishment of a KoreanGeneral Consulate in Danang will contribute to boosting many investors fromKorea into Danang and contribute to increasing the number of Korean tourists to the city.

Mr. Ahn Min – Sik’s important tasks during his mission was to promote the attraction of Korean investment into Central of Vietnam including Danang. At the same time, further promote cooperation on the field of tourism between the two countries. According to ambassador Mr. Ahn Min – Sik, nowadays, many Korean people have come to Vietnam to travel, and his task is to make efforts for Korean tourists to return to Vietnam for the second and third time and many more after that.

Mr. Ahn Min – Sik affirmed that he would always accompany the city, making efforts for the development of Danang and South Korean localities, as well as for the good friendship between the two countries. The parties hope to have more opportunities to cooperate with each other, in all fields such as tourism, investment, culture, education,… to confirm the friendly relationship between Vietnam and South Korea in the near future.

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What are common investment methods in Vietnam?

In Vietnam laws, there are a number of investment methods such as establishing economic organizations; investment in the form of capital contribution, purchase of shares or capital contributions in business organizations; Business Cooperation Contract or Public Private Partnership. Investment in establishing economic organizations, capital contribution, purchase of share or capital contributions are most common in our opinion.

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Investment in establishing economic organizations

For investment in the establishment of economic organization, an investor invests capital to carry out the establishment of an enterprise, cooperative, cooperative union or other organization to carry out business investment activities. This is a way of direct investment in which investors directly invest capital and directly participate in management activities.

Forms of establishment of economic organizations include two types: Establishing company with 100% foreign capital; or establishing joint ventures between domestic investors or the Government of Vietnam with foreign investors.

Before establishing an economic organization, the foreign investor must have an investment project and carry out the procedures for the grant of an investment registration certificate. Besides, the conditions for the charter capital ownership and the conditions prescribed by international treaties to which Vietnam is a member need to be met. Regarding charter capital, foreign investors are allowed to hold unlimited ownership in economic organizations, except for cases where the investors operate in fields related to listed companies, public companies, securities trading organizations and securities investment funds in accordance with the law on securities; State owned enterprises equitized or transformed under other forms. In addition, investors must check international treaties to which Vietnam is a signatory.

It should be noted that depending on the amount of investment capital of a foreign investor, the legal status of an economic organization after its establishment will be determined differently. If the foreign investor holds 51% or more of charter capital, the economic organization after its establishment will have to carry out the procedures applicable to foreign investors. Conversely, if foreign investors hold less than 51% of the charter capital, the regulations applicable to economic organizations after their establishment are applied as domestic investors.

Investment in the form of capital contribution, purchase of shares or capital contributions in business organizations

Foreign investors who wish to access the Vietnamese market but do not want to establish an economic organization can contribute capital, buy shares or buy capital contributions to business organizations operating in Vietnam.

With this form, the investor will become a member or shareholder of that economic organization. It requires investors to meet a conditions similar to the form of establishment of economic organizations. Having said that, it must meet the conditions for the charter capital ownership and the conditions prescribed by international treaties to which Vietnam is a member. Depending on each specific case, the investor must follow the procedures for registration of capital contribution, purchase of shares or capital contribution in an economic organization and send to the competent agency for recognition of legal investment.

Understanding the regulations are important for investors to enter the Vietnam market and consulting with Vietnam lawyers would help investors make informed decision for their business plan in Vietnam.

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Public services are provided through the National Public Service Portal

On December 9, 2019, the opening ceremony of the National Public Service Portal took place in Hanoi connecting with 5 other bridges across the country. Accordingly, after the National Public Service portal is officially put into operation, people only need to register to open an account (via phone number, enter identity card or identification number) and the system will also authenticate by secured OPT code similar to online transaction to the registered phone number people.

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With a view of publicity and transparency, the National Service Portal aims to be a website that helps provide information and support the implementation of online administrative and public service procedures nationwide. When using the National Public Service Portal, individuals and enterprises with single sign-on function, use one account of the National Public Service Portal to log in the public service portal of the Ministry and localities. Implementation of administrative procedures in many provinces and cities only needs to be declared once on the National Public Service Portal. This means that by accessing only one address, with a single account, individuals and enterprises can log in to all of the ministry-level and provincial-level public service portals performing online public services; monitoring the settlement status, assessing the quality of settling and sending feedback, recommendations regardless of the time and administrative boundaries. At the same time, with the role of a hub to connect with public service portals, databases, the implementation of online public services through the National Public Service Portal will help individuals and enterprises much more convenient due to reuse existing information and save time for document preparation, thereby significantly reducing social costs in the implementation of administrative procedures, especially those related to many agencies.

Some essential public service groups will be initially provided, including public services delivered in 63 provinces and cities such as Notice of promotional activities; The re-issuance of health insurance; The supply of low-voltage and medium-voltage power and integration of electricity payment utilities and 4 public services performed at the Ministry level are The issuance of driver’s license; Sign up for promotions; Group of services for granting certificates of origin of goods; Electronic tax payment for businesses.

According to the integrated roadmap for providing online public services, by 2020, at least 30% of essential online public services will be integrated; after 2020, to gradually increase by 20% every year, integrating 20% of online services at levels 3 and 4 of ministries, branches and localities.

It is expected by quarter 1/2020, the government will continue to implement services such as Electronic tax payment for individuals; Cancelling the customs declaration; Supplementing customs documents; Group of procedures for registration of security transactions; Fines payment for road traffic offenses; Driver’s license change (level 4), New driving license issue; Business Registration; Collecting fees and registration fees for cars, motorbikes, etc.

The National Public Service Portal is set up at to make public and transparent information related to administrative procedures and provide, support the implementation of public services according to demand for use, accord with each object; ensure the ability of individuals, organizations to supervise, evaluate and account for the state agencies’ accountability in the provision of public services; accelerate administrative procedure reform through the application of information technology; improve Vietnam’s position on online public service index in e-government development index according to the United Nations ranking. Individuals, companies will be provided with public services regardless of time and administrative boundaries so that they can save time, effort and money, increasing Vietnam’s competitiveness edge.

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Danang’s Target in 2020 is “The Year of Promoting Investment Attraction”

On December 04^th, 2019 Danang city held the conference on the result of the socio-economic development in 2019 and the target of the city in 2020.  The conference affirmed the situation of implementing the city’s political duties, ensuring some criteria for socio-economic development of the city. In 2019, the city has achieved some outstanding results such as: budget revenue exceeded the assigned estimate (estimated at VND 28.170 billion, reached 102,9% of the estimate, up 3,5%; attracted more than 3.696 billion dong of domestic investment and more than 658 million USD of foreign investment capital (newly granted investment certificates of 118 FDI projects with a total registered capital of 437,13 million USD, 8 times higher than the same period); Total tourist arrivals were estimated at 8.69 times, up 13.4%, revenue from tourism activities was estimated at 30.973 billion VND, up 16,7%. In the year, social order and safety were maintained, is considered by many investors and tourists to be a destination for investment and tourism.

In 2020 is particularly important, the last year to implement the 5-year plan from 2016 to 2020 and the year of many political and cultural events. At this 19th Conference, the Conference agreed on the theme of 2020 as “The year of promoting investment attraction” with specific tasks to focus on implementing: promulgate new preferential policies of the city to attract investors; implement plans on improving the quality and efficiency of foreign investment cooperation; continue to improve infrastructure, expand high-tech zones, create land fund to call for investment; continue to remove obstacles in the planning, land management, human resources for businesses and investors. In 2020, the city will actively coordinate with ministries and branches to submit to the National Assembly for approval of the Resolution on Danang construction and development to 2030, with a vision to 2045; on that basis, submit to the Government for promulgation a decree on specific mechanisms and policies on city development.

In addition, with the goal of attracting foreign investors, the city hopes to receive more investors from many countries around the world to invest in high-tech and technology industries, biology, environmental protection projects, tourism development, etc. through setting up company, factory in Danang City. This is a great opportunity for international investors to seize the opportunity to invest in Danang today, in order to enjoy the incentives, as well as the highest investment efficiency in the future.

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Danang cooperates with South Korea in building an intelligent transportation system

On October 28^th, Vice Chairman of Danang People's Committee had a meeting with Seoul Metro delegation, represented by Mr. Shim Seung Moo - Director of Seoul Metro International Relations Department.

At the meeting, the parties discuss about the program "Building Intelligent Traffic System" (ITS) in Danang, including the main contents such as: basic survey of the area where the project is supported; Reviewing and evaluating Danang plans and policies, development regimes; Analyze the appropriateness of the time as well as the project content and budget ....

Mr. Shim Seung Moo - Director of Seoul Metro's International Relations Department said: Using the ITS application to operate and manage the transportation system is a necessary job for Vietnam and Danang. If ITS is implemented in an integrated manner, traffic congestion during peak hours as well as traffic accident incidents in the area will be quickly resolved.

In the coming time, to deploy the ITS project, Seoul Metro will support Danang in installing infrastructure, equipment, violation monitoring systems (speeding, illegal parking), system of moving fee, parking management ... It is expected that the project will be implemented according the plan during 3 years: The first year of construction of architectural frames, the second year of organizing training and installation, the third year of operation.

On behalf of the representative of Danang city, Vice Chairman of the City People's Committee-Mr. Dang Viet Dung, agreed and highly appreciated the proposals of the Seoul Metro mission in surveying and supporting Danang to build the ITS system. Especially in the context that Danang aims to build a smart city in the period of 2018-2025, with a vision to 2030.

South Korea is known as a country with IT industries in the world, including the electronics, telecommunications and transportation. Therefore, the application of information technology applications in parking, solving traffic congestion, traffic flow,... will be necessary conditions towards building a smart city in Danang in the future.

The Vice President assigned the Department of Transport and the Department of Planning and Investment to early develop a detailed plan of the project to submit to KOICA and competent agencies in Vietnam for consideration, and to build a roadmap to receive it. KOICA's non-refundable capital. Besides, the Vice Chairman expected the relevant units to coordinate to implement the project effectively.

With the goal of building a smart city in 2030, Danang wants to attract more investors from many different countries, to make investments in the field ofinformation technology in Danang, to achieve the goals to be the smart city set by the city in the future.

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Da Nang To Cooperate With the US Enterprises to Build an IT Center

On Oct 10^th, 2019 representatives of Da Nang city met the US business delegation including Hayward Quartz Technology Inc., Westcoast Precision, Inc., Majestic Beauty Supplies, Inc., Lee’s Sandwiches International, Inc., Hung Phat USA. These are businesses in the field of manufacturing, processing diamonds and gold, silver and gems; production and distribution of beauty accessories, cosmetics; manufacturing and producing metal and hardware, supplying customized high-quality spare parts and semiconductor devices for the medical and biotechnology equipment industry; Manufacturing and distributing semiconductor equipment in the United States, whom shown interest to set up business and expand operation to Vietnam.

Related post: Da Nang Hold Series of International Information Technology Activities

Representatives of  US enterprises affirmed that Da Nang City is a potential destination for businesses in the High Technology and Information Technology. With the coordination, as well as the city’s incentives in the field of high technology and investment in Da Nang High-Tech Park, enterprises from the United States consider opportunities to invest in the high technology sector in Danang.

Da Nang city has many benefits that investors are interested in such as the safe and stable living environment, the young and highly qualified labours from more than 25 universities and colleges in the city, in addition the city is also a destination for many domestic and foreign investors in many different fields, which is an opportunity for investors to compete, distribute the productions.

Currently, in Da Nang, there are more than 60 investment projects of the US investors with the registered capital of nearly 6 million USD, including large projects such as the Sunshine Aerospace Components Plant Project in Da Nang high-tech park of Universal Alloy Corporation (USA) with total registered capital of USD 170 million; the factory of electronics and electronic equipment manufacturing and assembling project, total capital of USD 50 million, in Hoa Khanh Industry Zone Expansion invested by Key Tronic EMS Group. Besides there are many other projects being implemented and effective in the process of operation.

Da Nang City and investors from the United States hoped to achieve more business achievements in the future to help investors and the city achieve development goals in the future to welcome company to set up company, factory, and invest in Vietnam.

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