Da Nang is emerging as a fast-growing and well-planned city, which puts them in a perfect position to experience new economic development initiatives. The city is quickly rising in prominence with remarkable growth in the startup index to become a new Silicon Valley.
Silicon Valley is the dream destination for setting up tech startups. The region is home to many of the world’s largest technology companies including Apple, Cisco, Google, HP, Intel, and Oracle.
Despite the development of other high-tech economic centers throughout the United States and the world, Silicon Valley continues to be the leading hub for high-tech innovation and development, accounting for 1/3 of all of the venture capital investment in the United States.
Investments on the rise
The central coastal city of Da Nang has made great efforts to diversify its solutions to attract investment in local hi-tech businesses. Danang is also a base for software development outsourcing by international companies. The number of software offshore center in Danang is increasing year by year. The most popular entrepreneur is Japanese Companies, following by Singapore, the US, Korea and Canada.
FDI inflow in Da Nang hits nearly $700m in 2019. And in 2020, the city will concentrate on developing technical infrastructure of industrial zones and clusters and fostering investment promotion targeting foreign businesses who will invest in the city’s key sectors, such as IT and supporting industries.
Notable government initiatives
Government-supported programs such as the “National Programme to Support Innovative Startup Ecosystem in Vietnam by the year 2025” aims to create an ecosystem to support startups. They aim to provide early-stage funding to startups with high-growth potential and are expected to have supported 2,000 start-up projects and 600 start-up enterprises by 2025.
With the fast-growing digital community, government-supported programs, and the availability of a large engineering workforce, investors and tech firms are gradually been drawn towards Vietnam and away from traditional markets such as India and China.
Danang gets it Silicon Valley going
Recently, Da Nang City opened the first phase of its information technology (IT) park modeled on the U.S.’s Silicon Valley. The park is oriented to become one of the most developed IT communities in Asia, helping the coastal city lure more foreign investors.
So far, some big names in the global IT industry like IBM, Cisco, Intel, KDDI, Mitsui, and several smaller IT companies from Japan, the U.S., and Singapore have expressed interest in the park.
Place of youth and innovation
Youth, innovation, and investment are coming together in Danang City to foster a vibrant startup scene that the government hopes will help modernize Vietnam’s fast-growing economy.
From Vietnam’s northern capital of Hanoi to the coastal city of Da Nang to Ho Chi Minh City (HCMC, formerly Saigon) in the south, regional universities churn out hundreds of well-trained IT and software engineering graduates each year.
Danang is full of opportunities for entrepreneurs. Da Nang is the largest human resource training center in Central and the third in Vietnam. Annual new graduates from training and education organizations: 44.227 students Da Nang’s workforce, accounting for more than 70% of the population, is young, dynamic, diligent, and well-trained.
Experts forecast growing demand for specialists in cloud computing, big data, business intelligence, and information security in the city.
DataHouse Asia, an ideal place for software development partners
The world has noticed Danang’s enormous development the past decade. Danang needs to take advantage of its superior position to promote not only tourism but also information technology.Huy Nguyen, Managìng partner of software development company DataHouse Asia
Grew up in Vietnam and left to attend university in the Netherlands, Huy Nguyen had experienced working at big multinational companies in the world. When looking to outsource internationally, Huy chose to go back to his hometown to found his own company, Technocom, and DataHouse Asia. Along with many other Western-educated ex-pats returning to Vietnam, Huy Nguyen has become an ambassador of sorts of the country’s business potential.
Firmly rooted in the power of Asia-America, DataHouse Asia is a global team of passionate software and developers that shape your business ideas into excellent products to gain a strategic advantage in the market. DataHouse Asia designs and develops Silicon Valley-quality software with remarkable user experience at affordable prices.
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