Reason for expanding Vietnam business, Da Nang | Ho Chi Minh's advancement consulting, accounting, taxation and auditing [SAC]

Why Vietnam's business is expanding into Da Nang

Hanoi and Ho Chi Minh are not the only places to start a business in Vietnam.

The fourth largest city in Vietnam, Da Nang is now a base for foreigners to enter, with many investment opportunities. Danang has developed as a social and economic center for many years. Due to the flexible policies of local governments, foreign investors have set up offices and factories in and around the Danang area. In this article, I will explain the benefits of doing business in Da Nang.

Reasons for entering Da Nang ①: Location

Da Nang serves as a base for the eastern entrance as a strategic location (East-West Economic Corridor) in the Mekong region developed by the Asian Development Bank. Many roads will be completed, straddling Laos and Thailand and connecting the Mekong region and Da Nang. The East-West Economic Corridor promotes more regional cooperation and is an important factor for tourism, trade, investment and the development of Da Nang.

Reason for entering Da Nang (2): Economic hub

Located in central Vietnam, Da Nang, along with cities and provinces such as Quang Nam, Thua Thien Hue, Bin Dinh and Quang Ngai, is one of the strategic economic hubs dictated by the Prime Minister. Strategic economic hub Da Nang is expected to support economic development due to its geographical advantage in the northern and southern centers.

Reason for expanding Da Nang ③: Infrastructure improvement

Da Nang acts as an important central transportation hub, with international airports, bays, railroads, roads and well-developed infrastructure. Danang Port has international transportation routes to Singapore, Hong Kong, Japan, South Korea, Europe, USA and Taiwan. Da Nang International Airport is one of Vietnam's largest and most advanced airports and can accommodate 12 million visitors each year.

Reason for expanding Da Nang ④: Potential labor force

In Da Nang, nearly 50% of the city's population is a potential workforce. The average age is low, and there are abundant human resources with qualifications from universities and vocational training institutions. Danang has more than 24 universities, 50 vocational schools and more than 140,000 students. These educational institutions work with foreign educational institutions to provide quality education and approximately 40,000 people graduate from the University of Danang each year.

Reason for expanding Da Nang ⑤: Technology and communication center

Danang is one of Vietnam's premier IT hubs, with a particularly strong position in the software and web industries. In recent years, Danang software technology companies have partnered with leading Japanese and Indian companies to train engineers, engineers and programmers. Global companies are making inroads in and around Danang, and efforts are being made to comply with international standards.