Da Nang prepares land for tech companies

Da Nang is dedicating nearly 80 ha of land to attract strategic investors over the next 10 years as it aims to establish itself as a national center for finance and high technology.

According to Mr. Ho Ky Minh, Vice Chairman of the Da Nang People's Committee, the city is not only preparing the land but also offering significant tax incentives to support businesses, particularly in semiconductors, artificial intelligence (AI), and finance.

These incentives include five-year exemptions from corporate income tax. Meanwhile, 5-year exemptions from personal income tax will also be applicable to experts, scientists, and individuals involved in startups.

Previously, the city People's Council approved an increase in the phase 1 investment budget for the Software Park 2 project to over VND1.4 trillion (over $55 million). Expected to launch in January 2025, the park will offer modern infrastructure and attract strategic investors in the high-tech sector.

Regarding the development of the international finance center, Mr. Minh outlined three key service areas:

First, international financial services, focusing on international payments, international trade, foreign exchange, and green finance.

Second, Fintech services in Da Nang will target innovative financial solutions, including software and application platforms for electronic payments and cryptocurrency transactions.

Third, support services such as auditing, accounting, legal services, and customs consulting will be developed to assist investors throughout their investment process in the finance center.