Led by the vice mayor of Shengzen city, Chen YingChun, the visit of the 25-member Chinese business delegation aims to seek business and investment opportunities in the central coastal city.

Under memoranda of understanding signed by Da Nang city authority and Shengzen International Cooperation Corp in August 2006 and in January this year, the Chinese group will develop a 50-hectare industrial park in Hoa Khuong Commune, Hoa Vang District.

With an investment of 500 million USD for the IP’s infrastructure, the Shengzen IP will help attract Chinese-invested projects, especially projects in information technology, electronics manufacturing and pharmaceuticals production, to Da Nang .

The chairman of Da Nang People’s Committee, Tran Van Minh, said the city would meet the developer’s demand for import of equipment and materials, human resources and accommodations for the Chinese experts.