Belgian aerospace manufacturer ASCO Industries announced a US$20 million investment to construct a 6,000‑square‑metre aircraft parts factory in Da Nang City, central Vietnam. The company also aims to raise the total investment to $100 million over time, signalling confidence in the region’s industrial potential.

The plan was revealed after Da Nang chairman Nguyen Manh Hung met ASCO’s CEO on the sidelines of a high‑level dialogue in Brussels, Belgium, where a Vietnamese delegation led by Party General Secretary and State President To Lam met European business leaders. The Da Nang People’s Committee announced the agreement following that meeting.

Da Nang officials presented the city’s advantages and a strategy to draw high‑tech, high‑value‑added projects that can join global supply chains. The city hopes such projects will boost local expertise and export potential.

An agreement signed in July between ASCO Industries and the Da Nang High‑Tech Park and Industrial Zones Authority defines the factory’s construction and investment schedule. The CEO will meet the authority again in early December to discuss implementation, and the factory is slated to begin operations in 2027. The authority must report the results to the chairman before November 15.

These steps show how Da Nang is actively courting foreign high‑tech investors to build high‑value‑added industries. The project illustrates Vietnam’s broader aim to integrate local production into global aerospace supply chains.