The Trung Nam Group, a professional organization investing in energy, infrastructure, and real estate, has begun work on five factories worth USD 65.2 million at the Da Nang Information Technology and Communication (ICT) Park to host companies relocating to Vietnam.
The group will also develop an apartment and villa zone, as well as an eco-park project for a total of USD 91.3 million for accommodation facilities for investors and their families. Furthermore, in order to meet the increasing demand from global companies, the group has announced plans to build 23 more ICT factories and R&D zones.
Trung Nam completed the phase of the Da Nang IT Park with an investment of USD 47 million. It plans to develop the second phase with estimated funds of USD 74 million.
Some notable foreign investors have invested in Vietnam in recent years:
- Universal Alloy Corporation (USA) – a leading global manufacturer of aircraft components for aerospace companies launched its factory for aircraft components worth USD 170 million in Da Nang in 2020.
- Alton Industry (USA) plans to build a robot manufacturing project in Da Nang.
- Meritronics AMT Inc and Ai20X Silicon Valley – the two Silicon Valley-based businesses have agreed to develop the Da Nang ICT Park.
- IN 2020, South Korea’s LG Electronics and Trung Nam Land JSC signed an agreement with a vision to transform Da Nang into the center of technology and R&D in Vietnam.