Quang Nam to Establish US Industrial Park

A local official has stated that Quang Nam is planning to develop the Quang Nam-US Industrial Park in the region, focusing on the semiconductor industry and digital economic sectors.

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Quang Nam – US Industrial Park Expected to be Formed
Last year, Quang Nam exported more than $1.12 billion worth of goods to the US. Photo: congthuong.vn

Speaking at a recent forum, held in the central province of Da Nang by the American Chamber of Commerce (AmCham)’s Da Nang chapter and the Da Nang Young Entrepreneurs Association, Vice Chairman of the People Committee of Quang Nam Ho Quang Buu affirmed that the US is currently one of Quang Nam’s major trade partners and its largest importer.

Last year, Quang Nam exported more than US$1.12 billion worth of goods to the US, accounting for 56.2% of the province’s total export turnover in the year. In the first 10 months of this year, the value stood at US$438.45 million, mainly garments-textiles, leather shoes, wooden products, electronic devices, mechanical products, and auto parts and accessories, among others, he continued.

Quang Nam – US Industrial Park Expected to be Formed
Vice Chairman of the People Committee of Quang Nam Ho Quang Buu speaks at the forum. Photo: congthuong.vn

The official stressed that the US’ investment in Quang Nam has remained modest as there are only seven US-invested projects worth $5.86 million out of 194 FDI projects valued at $6.06 billion in the locality.

Buu expressed his hope that the recent upgrade of the Vietnam-US relationship to a comprehensive strategic partnership will help increase the trade revenue between Quang Nam and the US, and lure more US investments to the province.

Quang Nam – US Industrial Park Expected to be Formed
Quang Nam wishes to attract US projects in different sectors. Photo: congthuong.vn

Quang Nam wishes to attract US projects in high technology, innovation, renewable energy, new energy, infrastructure development, financial, trade and service centers, research and development activities, aviation, and green industry, he said.

The province will continue improving its investment environment, infrastructure, and workforce training to meet the demands of US investors, particularly in tech-related sectors, he added.

Quang Nam also seeks US investments in tourism, healthcare, logistics, and other sectors, Buu said.

Rosy Huong