American Firms Investing in Danang’s Hi-tech Park and Information Technology Park

Aug 2019

Danang city in central Vietnam has been receiving increasing attention from American companies for investment in the city’s Hi-tech Park and Information Technology Park. In August 2019, three Memorandums of Understanding (MoUs) on promoting investment, hi-tech Manufacturing and expert training were signed among the central city’s Hi-tech Park and Information Technology Park, Ai20X Silicon Valley and Meritronics technology joint-stock company (JSC). 

Ai20X is a business network focused on accelerating innovation to the global market, promoting global innovation startups in Silicon Valley and launching products in the US. It will collaborate with the managing board of Danang Hi-tech Park in the areas of business incubation, technology transfer, expert training and high quality human resources and investment activities.

California-based Meritronics technology, a specialist in turnkey PCB assembly and electronic design, has agreed to establish the Trung Nam Meritronics Technology JSC for providing electronic Manufacturing services at Danang IT Park in the future. 

Alton Industry from the US has received verbal support from the authorities to start construction on a robot Manufacturing plant within the park area. Earlier this year in May, Universal Alloy Corporation, a leading global manufacturer of aircraft components for aerospace companies from the US, started construction of a factory for aircraft components worth USD 170 million. The plant will provide components for Boeing, Airbus, Embraer, Bombardier and their associated supply chains.

According to statistics from the city’s Investment Promotion Agency, the US is currently the third largest investor in Danang with 63 foreign direct investment (FDI) projects worth USD 595 million. The city has attracted a total of 679 foreign direct investment projects worth USD 2.9 billion and 322 domestic projects worth USD 4.2 billion. The Hi-tech Park has 15 investment projects worth USD 390 million.

(Sources: Vietnam News)

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