Da Nang Unleashes Land for Tech Revolution
The Vietnamese city of Da Nang has recently earmarked approximately 80 hectares of land for the development of high-tech industries. This calculated move intends to lure international technology and finance companies, strengthening the city’s dedication to becoming a major innovation hub. With its focus on advanced fields such as artificial intelligence, Da Nang is ready to enhance its global standing, while promoting sustainable growth and cultural preservation. The long-term implications of this tech revolution in Da Nang are vast and warrant further exploration.
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High-Tech Land Allocation
In an ambitious move, Da Nang has earmarked nearly 80 hectares of land specifically for high-tech development and finance. This land allocation is part of a broader strategy to attract international financial centers and technology firms.
The city has designated five plots totaling 6 hectares near the idyllic Son Tra beach for potential investors. Additionally, a further 9.7 hectares adjacent to the city’s second public park are planned for development.
Over the next decade, Da Nang aims to expand these high-tech zones by approximately 62 hectares. By prioritizing high-tech and financial sectors, Da Nang is positioning itself as a competitive location for both domestic and foreign investors, clearing the path for its metamorphosis into a global technological hub.
Economic Growth Strategies
As part of its ambitious vision, Da Nang is focusing on Artificial Intelligence (AI) and finance as central pillars of its economic growth strategy. The city aims to utilize these sectors to position itself as a leading player in the global digital economy.
AI Development: Da Nang is keen to become a lively hub for AI, nurturing an environment conducive for startups and established firms. They offer tax incentives and support operational costs for selected AI projects.
Financial Sector Growth: Da Nang’s strategy also involves developing a strong financial sector, offering tax exemptions for specialists and scientists for five years.
Supporting Sectors: In addition to AI and finance, Da Nang is also eyeing growth in sectors such as tourism, logistics, and information technology. These sectors are viewed as essential supporting pillars, synergizing with AI and finance to drive overall economic growth.
Infrastructure and Development Plans
Building upon its economic growth strategies, Da Nang has devised strong infrastructure and development plans. A key element is the 1,400-hectare industrial park No. 2, which primarily focuses on IT. This strategically positioned park offers direct leasing options, bypassing auction processes for potential investors. The first building is expected to be operational by January 2025, with several global companies in AI and sales already expressing interest.
Upcoming regulatory changes are also part of the plan, aimed at further supporting the AI and sales sectors. The table below summarizes the key aspects of Da Nang’s infrastructure and development plans.
| Infrastructure Plan | Description |
|---|---|
| Industrial Park No. 2 | 1,400 hectares, focusing on IT |
| Leasing Options | Direct leasing options for investors |
| Regulatory Changes | Future laws to support AI, sales sectors |
Da Nang's Long-Term Vision
With a visionary outlook towards the future, Da Nang aspires to evolve into a tourism and high-tech center by 2030.
The city’s long-term plan pivots around three strategic areas:
Economic Diversification: To establish a strong economy, Da Nang is focusing not only on tourism but also on emerging sectors like artificial intelligence and finance.
Sustainable Development: The city aims to balance rapid growth with environmental sustainability and social equity, ensuring a high quality of life for its residents.
Global Competitiveness: Aspiring to be a leading technology and finance hub in Southeast Asia, Da Nang is committed to creating an environment that nurtures innovation and attracts international investment.
This vision underlines Da Nang’s dedication to embracing the future while preserving its unique cultural heritage.
Global Recognition and Investment
Da Nang’s technological evolution has not gone unnoticed on the global stage. Recognized as a rapidly changing city in technology, it has caught the attention of global tech leaders and investors.
The potential of Vietnam as a whole has been highlighted by industry giants, with Nvidia’s CEO citing Vietnam as a strategic investment location. FPT Corporation, one of the country’s largest tech companies, has also emphasized the nation’s growing capabilities in artificial intelligence.
This recognition has spurred continued interest from multinational companies seeking to establish a presence in Vietnam. Indeed, Da Nang’s successful push towards tech innovation is not only reshaping its local economy but also positioning it firmly on the global tech map.
