Da Nang Aims to Attract 'High-Quality Capital' Through Superior Institutions

Da Nang City in central Vietnam is aiming to become a new growth pole by leveraging its superior policy execution capabilities and institutions to attract high-quality capital, technology, and talent. At the "Economy, Finance, and Technology Week 2026" and High-Level Policy Dialogue Conference held on July 7, Deputy Prime Minister Nguyen Van Thang highly praised Da Nang's strategic location in the central region, its developed infrastructure, and expanding international connectivity. Following its merger with Quang Nam province, the city is poised to form a multi-polar structure, integrating urban development, industry, logistics, services, finance, and innovation. However, Deputy PM Thang noted that Da Nang needs to enhance its implementation capacity and effective operational mechanisms, rather than solely focusing on vision or large-scale projects. "The city needs to shift its focus to attracting high-quality capital, technology, talent, and long-term partners to become a new growth engine," he advised, emphasizing that the greatest value of urban development lies in its ability to create connections between people, businesses, and knowledge, rather than concentrating on real estate. Experts believe the new growth structure will be driven by three key engines: urbanization, continuous learning, and artificial intelligence (AI). Professor Paul Romer, a Nobel laureate in Economics, stated that the primary value of Foreign Direct Investment (FDI) extends beyond capital, offering opportunities for workers to access technology and improve their skills. From an urban planning perspective, Associate Professor Dr. Hoang Vinh Hung, Director of the National Institute for Urban and Rural Planning, analyzed that the deciding factors for a growth pole are no longer population size or area, but superior institutions, high-quality human resources, and an innovation ecosystem. He assessed that Da Nang has the full potential to become a new growth pole if it can form high-tech industrial clusters and strengthen linkages with neighboring production centers to create complete supply chains. Investors prioritize political stability, transparency, and long-term predictability of the legal system when choosing destinations. Mr. Shanmuga Retnam, founder of the World Cities Summit, analyzed that investors seek an environment that can ensure stable business operations for the next 10-20 years. Mr. Thai Thanh Quy, Permanent Deputy Head of the Central Committee for Policy and Strategy, proposed that Da Nang should prioritize enhancing its institutional and strategic management capabilities, leading in institutional reform and conducting controlled policy experiments. The concretization of special mechanisms with transparent processes, clear responsibilities, risk management mechanisms, and substantive performance evaluation is crucial. Dr. Mirjam Staub-Bisang, Chair of BlackRock Switzerland, suggested that Vietnam should adopt a Blended Finance model, using a portion of preferential capital from the state or development organizations as a "seed fund" to share risks, thereby attracting investment funds, pension funds, insurance companies, and the private sector to participate in green projects. Responding to these inputs, Mr. Le Ngoc Quang, Secretary of the Da Nang City Party Committee, reaffirmed the city's goal of becoming a global city not by population or area, but by the quality of governance, the attractiveness of its investment environment, its innovation capacity, and its connectivity. Da Nang aims to establish itself as a regional innovation hub by defining five key roles: a growth pole for the central region; a pioneer in institutional experimentation; a center for attracting high-quality resources; a hub for the digital economy, semiconductors; and building a city worthy of contribution.