According to a representative from the Da Nang High-Tech Park Management Board, representatives from Korea Aerospace Industries (KAI) recently visited Da Nang to survey the area for the construction of a factory to produce aircraft components for Airbus.
The representative stated that the high-tech park has prepared a land fund to facilitate KAI's investment in a project to assemble, manufacture, and fabricate aerospace industrial products.
Previously, in 2010, KAI, along with the European Aeronautic Defence and Space Company (EADS) and Airbus, surveyed Da Nang to build an industrial park for the production of aerospace equipment.
The Airbus component manufacturing project in Da Nang will be the second aviation project in Vietnam, following the Boeing wing flap assembly and manufacturing plant in Thang Long Industrial Park, which has been operational since 2009 by MHI Aerospace (Japan).
The Da Nang High-Tech Park was established in October 2010, comprising seven functional zones with a total area of nearly 1,130 hectares. Recently, the Da Nang People's Committee issued preferential policies and investment support for the high-tech park, such as exempting newly established enterprises from income tax for four years from the time they have taxable income and reducing 50% of the tax payable for the next nine years.
Currently, South Korea is the second-largest investor in Da Nang in terms of the number of projects and total registered investment capital among the 30 countries and territories that have invested in this central city. South Korean investment in Da Nang mainly focuses on real estate, processing and manufacturing industries, textiles, and footwear.
A representative from the Korea Chamber of Commerce and Industry in Vietnam (Korcham) commented that South Korean businesses are gradually shifting from manufacturing outsourced goods to high-tech products in Vietnam, and the aerospace sector is one of them.