Japan’s Mikazuki Corporation and Xuan Thieu Tourist Investment JSC have recently proposed to the Danang authorities to consider approving the expansion of the Xuan Thieu tourist area in Danang City with the expansion area of over 53,000sq.m in the form of the annual land lease.
Danang city plans to take more measures to develop tourism
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He emphasized that the city authorities would study and put the above-mentioned projects into the list of planning adjustment reports as well as conduct the procedures for land auction in this area in order to ensure publicity and transparency.
Earlier, the Danang City People's Committee allowed Mikazuki Corporation to do surveys and invest in the expansion of Xuan Thieu tourist area.
The project covers an area of nearly 11.5ha with the goal of developing a service complex including five-star hotels, water parks, game parks and food courts.
This was the largest FDI project licensed in Danang's tourism real estate in 2017, the year marking the APEC international event, opening up a huge opportunity to attract investment in the city.
Danang city has so far had 553 FDI projects with a total registered capital of over $3.04 billion.
Investors from Singapore ranked first with a total registered capital of $829.05 million, accounting for 27.62% of the city’s total FDI capital. Japan, the United States and South Korea followed with $629.48 million, $518.83 million and $253.09 million, respectively.
Danang has decided to choose the theme titled ‘The year for promoting investment attraction’ for 2018 to capitalize on the success of the APEC Summit Week to boost the central city’s socio-economic growth.
Danang authorities said that it will take the city difficult to improve the size of the economy and become the leading of the central and Highlands regions if it does not promote investment attraction to enhance the growth.
According to Ho Ky Minh, Deputy Chairman of the municipal People’s Committee, the city will continuously implement policies and measures to develop economy, tourism, and infrastructure as well as to attract investment and innovation.
