After four decades of innovation, the economic landscape of the Central region in general and Da Nang in particular has undergone significant transformations. What was once a region with limited transportation infrastructure and market connectivity has now become a destination for strategic capital flows. This shift is attributed to private corporations establishing manufacturing, service, and technology ecosystems.

Number One Chu Lai factory, operational since 2017, provides jobs for hundreds of local workers. Photo: L.Khoa

Among these, Thaco has developed a mechanical, supporting industry, and logistics complex in Chu Lai. FPT has built the FPT City technology urban area, boosting its software, AI, and high-skilled workforce training segments. Sun Group has made its mark with a system of resorts and large-scale entertainment complexes. Concurrently, Tan Hiep Phat has consistently pursued a long-term production strategy through its Number One Chu Lai factory, operational since 2017. The enterprise adopted aseptic filling technology nearly two decades ago, maintaining stable operations and creating jobs for hundreds of local workers.

These advantages led the Provincial Competitiveness Index (PCI) 2025 Report to recognize Da Nang among the top 5 localities maintaining a "good" quality of economic governance.

At the announcement ceremony for the Vietnam Private Economic Report and PCI 2025, Mr. Nguyen Duy Hung, Board Member of Tan Hiep Phat, emphasized that internal corporate strength is a necessary but insufficient condition for the private sector's sustainable breakthrough. According to Mr. Hung, the business community does not seek special favors but requires a fair legal environment, consistent enforcement, protection of property rights, and maximal simplification of administrative procedures. The relationship between the government and businesses needs to transform into a partnership, where the measure of reform is directly reflected in the time and costs businesses save in practice.

Mr. Nguyen Duy Hung speaking at the announcement ceremony for the Vietnam Private Economic Report and PCI 2025. Photo: Tan Hiep Phat

As it enters a new development cycle with an expanding economic space, Da Nang also possesses breakthrough tools such as a free trade zone and a proposed international financial center.

According to a representative from Tan Hiep Phat, these new advantages demand that the city shifts its mindset from merely attracting capital to nurturing existing businesses. Enterprises with strong technological, managerial, and financial capabilities will act as core players, drawing in a network of suppliers, logistics, and satellite businesses. The representative affirmed that building this interconnected ecosystem is key to Da Nang increasing its competitiveness and transforming potential into sustainable growth drivers.

(Source: Tan Hiep Phat)