Da Nang records positive economic recovery hinh anh 1A view of Da Nang city (Photo: VNA)

Da Nang (VNA) – The central city of Da Nang posted a year-on-year growth of 0.89 percent in its Gross Regional Domestic Product (GRDP) in the first quarter of 2022.

The locality recorded increases of 2.6 percent, 1.96 percent, and 0.80 percent in its agro-forestry-aquaculture, industry-construction, and services, respectively, in the reviewed period.

According to Director of the municipal Department of Statistics Tran Van Vu, Da Nang has witnessed positive economic recovery after the ease of COVID-19 restrictions to achieve the goals of “Safe and flexible adaptation to and effective control of the COVID-19 pandemic” and socio-economic development.
The municipal authorities are taking all-out efforts and deploying a series of measures to support businesses, especially those operating in the spheres of processing, manufacturing, construction, logistics and accommodation services, Vu said.

Attention has been also paid to promoting investment attraction and speeding up the disbursement of public investment and the progress of key projects, he added.

The growth rate in Q1 is considered the initial achievement of a new phase, which creates momentum for economic growth in the next quarters and the whole year, he noted.

According to the department, the economic size of Da Nang in January- March was estimated at 26.76 trillion VND (over 1.17 billion USD), 830 billion VND higher than that of the same period last year, of which the added value of the service and industry-construction sectors rose by over 481 billion VND and 303 billion VND year-on-year.

Regarding the structure of the economy in the reviewed period, the agro-forestry-aquaculture, industry-construction, service and tax sectors respectively accounted for 1.75 percent, 20.12 percent, 67.13 percent, and 11 percent.

From January 15 to March 15, the municipal authorities granted new business registration certificates to 876 enterprises with a total registered capital of 6.66 trillion VND, up 12.9 percent in the number of enterprises and 10.7 percent in the capital compared to the same period last year.

As many as 1,071 enterprises resumed operation, a year on year increase of 62.5 percent. Meanwhile, the number of enterprises leaving the market tends to decrease, with only 145 firms completing dissolution procedures in the period.  

As of March 20, the State budget revenue hit over 5.79 trillion VND, up 5.8 percent, the department said. The total State budget expenditure reached 6.8 billion VND, equaling 79.4 percent over the same period in 2021.

In the coming time, the locality will focus on solutions to effective restore tourism activities through tourism stimulus programmes, and paying special heed to training human resources serving tourism.

It is rolling out measures to attract more MICE (meeting, incentives, conferences and events) tourists, given the positive signs on the recovery of the tourism sector this year.

2021 was the first year that the city piloted support policies to attract MICE groups, 10 of which with about 4,000 guests received assistance from the centre between March 15 and April 30 and in December last year.

The implementation of the policy will help recover tourism, one of the city’s spearhead economic sectors, and realise the Government’s dual goals in line with safe and flexible adaptation to and effective control of COVID-19.

The central city will host the Asian route development forum 2020 (Routes Asia 2022) on June 4-9 with programmes and activities connecting the air transport industry and flight networks in the Asia-Pacific region.

The forum is expected to open up great opportunities for the aviation industry in general and the tourism industry in Da Nang in particular, contributing to re-opening and developing international routes, attracting investment and tourism to the central coastal city.

By hosting the event, Da Nang continues to affirm its position as Asia's leading event and festival destination, a hub for aviation and tourism development in Vietnam and the region./.