Da Nang (VNS/VNA) - Local investor Sai Gon - Da Nang Investment JSC (SDN) has started construction on the Hoa Nhon Industrial Park (IP), located on 24.75ha in the central city of Da Nang.

With an investment of 285 billion VND (11 million USD), this is the very first item for the approved Industrial Support Complex in the city’s master plan for 2021-2030.

Local authorities said the Hoa Nhon IP was designed as one of the ‘green’ and ‘clean’ parks with an aim of attracting hi-tech and environmentally-friendly industries.

The Hoa Nhơn IP is designed for a variety of industries including electronics, metal processing, garment and leather, wood, equipment, machine manufacturing and supporting industry sectors.

SDN, a member of Sai Gon Investment Group, has been investing in major industrial park infrastructure projects in central Vietnam since 2005, including Nhon Hoi in Binh Dinh, Sai Gon Chan May in Hue and Lien Chieu and Hoa Khanh Expanded IP in Da Nang.

The firm is also currently developing four urban residential projects, including Dragon City and Bau Tram Lakeside, in the central city.

Last month, SDN was among eight major investors and partners with Da Nang in building infrastructure items for the Da Nang Free Trade Zone.

The local industrial property developer has also signed a business agreement on the development of industrial parks and urban zones with the Korea CEO Summit Organisation.

Da Nang has approved a new industrial park complex in Hoa Ninh, Hoa Cam and Hoa Nhon and is calling for investment of 13.8 trillion VND.

Vin Pearl company, a member of Vin Group, started construction last month on the 512-hectare Lang Van Integrated tourism project.

The city said six industrial zones, along with the Da Nang Hi-Tech Park and Da Nang IT Park – a concentrated IT zone – have attracted 521 projects, of which 396 were domestic with a total investment of 33.9 trillion VND, and 125 were foreign direct investments worth more than 2.2 billion USD./.