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Oct 15, 2017 / 19:09

Da Nang wants investment in infrastructure projects

Central Da Nang City is calling for investment in a metro line project to connect it with its neighboring city of Quang Nam Province’s Hoi An.

Tran Van Son, director of Da Nang Department of Planning and Investment, said at a seminar entitled ‘Investment Promotion on Da Nang’s Infrastructure Development’ held in the city on October 14. The event is held on the sideline of the 2017 Da Nang Investment Forum that will be open on October 15 with the participation of some 500 officials, domestic and foreign investors.
According to Son, it is necessary to shorten the distance between Da Nang – the city with an international airport, with Hoi An Ancient Town, to better exploit the strength of the two localities.
The metro line, which is about 33 km long and runs from Da Nang International Airport through the city center to Vo Nguyen Giap Street and then to Hoi An, is estimated to need about VND7-15 trillion (US$330-660 million), Son said, adding that the fund will be from official development assistance (ODA) loans or public–private partnership (PPP) source.
Son explained that with the form of ODA loans, investors will need about $300-600 million. The remaining of $33-66 million will be counterpart funds paid by budget of Da Nang City and Quang Nam Province.
Nguyen Ngoc Tuan, Vice Chairman of Da Nang People's Committee, said leaders of Quang Nam Province and Da Nang City has approved in principle to jointly promote the project to connect Da Nang and Hoi An.
He expected that the project will help better exploit and increase the value of tourism and land use, in addition to further easing the traffic between the two localities in the future.
The construction of the project will be implemented from 2017 to 2023.
In addition to the metro line project, Tuan said that Da Nang is also studying the construction of Lien Chieu Port to reduce the loading for Tien Sa Port and ease pressure on road traffic in the city’s tourist development area.
Besides, the construction of Lien Chieu port will also shorten the route on the East-West economic corridor connecting Myanmar, Thailand, Laos and Da Nang.
Da Nang is also promoting the implementation of another important project to move the Da Nang Railway Station out of the downtown.
In the environment field, Tuan said that Da Nang is stepping up investment preparation for a solid waste treatment complex and a water environment improvement project.
These two key projects will contribute to solving thoroughly the urban and coastal pollution in the city, he said.
Da Nang is also inviting investors to take part in a project on information application in management to help it become a smart and modern city. 
Toru Hashimoto, Director of Development Cooperation Department, International Affairs Bureau, City of Yokohama (Japan), said that under the cooperation agreement between Yokohama and Da Nang in investment promotion of infrastructure projects, Yokohama will provide technical advice in promoting the development of Da Nang City as an ecological city.
The two sides will encourage the participation of private investors and organize the training about the environmentally friendly urban development to achieve the targets, he said.
Da Nang's leaders expect after completion, the projects will help the city develop effectively, moderately and sustainably.
As the city is struggling for funds to carry out the projects, Tuan expected that the upcoming APEC summit in Da Nang, with the participation of leaders from 21 member economies and thousands of the world’s leading entrepreneurs, will help the city to call for investment.
“It will be a golden opportunity for Da Nang to prove that it is a ‘worth-living city’ and ready to welcome investors with the best conditions,” he said.