City authorities give active support to businesses

In an effort to effectively implement Da Nang’s key campaign ‘2018: The Year of Investment Promotion’, the focus was on making remarkable improvements in receiving and handling difficulties facing the business community in the first half of this year.

A worker at the Nissan automobile factory in the Hoa Khanh Industrial Park

As a result, between January and June, the city’s gross regional domestic product (GRDP) increased by 7.54% compared with the same period last year.

The value of services produced went up by 8.24%, contributing 4.97 percentage points to the local GRDP growth; the industrial and construction sector by 6.59%, contributing 1.85 percentage points; and the agro-forestry-fisheries by 2.79%, contributing 0.05 percentage points.

Amongst big cities nationwide, Da Nang has ranked 2nd in the growth of GRDP after Hai Phong. As for 5 cities and provinces in the central regional key economic zones, Da Nang has ranked second behind Quang Ngai.

During that period, the city authorities granted investment licences for 4 domestic projects, worth 5,096 billion VND in total, and for 61 FDI projects totalling 76.1 million USD. These figures showed 150% and 237.8% increase in the number of projects and investment capital respectively against 2017.

Currently, the city is now home to 320 domestic projects with the total registered capital of 94,659 billion VND, and 609 FDI projects totalling 3.136 billion USD.

These positive signs were mainly attributed to the great efforts of the city authorities in implementing investment promotion activities effectively.

The city authorities are striving to maintain its economic growth, and to enhance the living standards of local residents.

Therefore, numerous effective measures have been taken by the city government to give more assistance to businesses to expand their investment and production activities.

Importance has been attached to facilitating businesses to access bank loans at preferential interest rate, accelerating administrative reform, issuing incentives for private enterprises, and creating a fair, open and transparent investment environment.

Special attention has been paid to providing incentive policies-related information, and giving consultancy services about State laws and regulations for businesses.

Source: DA NANG Today