Da Nang records GRDP growth rate of 3.48%/year in 2019-2023

After five years of implementing the Resolution No. 43-NQ/TW dated January 24, 2019 adopted by the Politburo on building and developing Da Nang by 2030, with a vision to 2050, during the 2019 – 2023 period, the city’s economy has gradually recovered after the COVID-19 pandemic. Its gross regional domestic product (GRDP) is estimated to increase by an average of 3.48%/year

The information was released by Vice Chairman of the municipal People’s Committee Ho Ky Minh at the 14

^th

session of the Da Nang Party Committee’s Executive Board held in the city on Friday to review its performance in 2023 and discuss key tasks for 2024.

Vice Chairman of the Da Nang People’s Committee Ho Ky Minh delivering his report at the event. Photo: NGOC PHU

Many policies issued to promote economic recovery

Before COVID-19, the city’s economy had prospered, achieving many positive results from exploiting the potential of the APEC Economic Leaders’ Week in 2017 and anticipating specific development mechanisms and policies after the Politburo issued Resolution No. 43-NQ/TW.

During the complicated developments of the global pandemic, the municipal Party Committee closely followed and strictly implemented the Central government’s directions, with a focus on flexibly applying and drastically taking COVID-19 prevention measures, promptly realising dual goals of proactively preventing and safely coexisting with COVID-19.

As the outbreak was gradually controlled, the municipal Party Committee urgently directed the establishment of a Steering Committee for socio-economic recovery and development, and focused on implementing solutions according to the 2022 theme ‘Safe adaptation, flexible and effective control of the pandemic, socio-economic recovery and development’, and the 2023 theme ‘The year focusing on unlocking resources, attracting investment, maintaining economic growth and ensuring social welfare’.

At the same time, many important events were organised to promote the process of socio-economic development and recovery, thereby not only positioning Da Nang as a destination for regional and international events but also showing strong determination in restoring its key economic sectors.

In addition, interdisciplinary working groups were set up to coordinate with central agencies to help investors remove difficulties and obstacles related to investment and construction procedures.

Thanks to that, Da Nang is recognised as one of the localities with a fairly rapid economic recovery. In late 2022, a number of basic economic sectors and fields were restored.

In the 2019-2023 period, the city’s GRDP is estimated to increase by an average of 3.48%/year, of which, that of the 2021-2023 period is likely to go up 6.33%/year, higher than the national average.

Many key economic sectors make great contributions

The local service and tourism sectors continue to be a bright spot, contributing positively to the overall growth of the city.

Tourism activities continue to grow strongly. International events and attractive tourism products and services are continuously organised, attracting a large number of tourists.

The Lien Chieu Port is one of the city’s key projects, contributing to promoting local economic growth in the future.

The city’s total revenue from accommodation and travel services in 2023 is estimated to have reached VND10.3 trillion, a 1.14 times higher than that in 2019.

Transportation activities and logistics services in the city have reported quite good development growth rate.

The city has promoted programmes and projects to enhance business capacity and logistics service quality; support the development of the logistics service market; and improve foreign transport infrastructure routes.

Importance has been attached to accelerating the construction of Lien Chieu Port; upgrading and expanding passenger terminal T1 and the cargo terminal to reach a capacity of 100,000 tonnes per year.

Between 2019 and 2023, revenue of the logistics industry is estimated to rise by 9.1%/year. The volume of goods transported through the Da Nang Port is estimated to increase by 8.3%/year.

Export and import activities recovered positively and achieved good growth. Export turnover in the 2019-2023 period is estimated to increase by an average of 7.0%/year (the 2021-2023 period is estimated to increase by 12.5%/year).

The industrial structure is shifting in the right direction, focusing on developing high-tech industry and paying attention to technological innovation. Information and communications technology infrastructure has developed strongly, ready to meet the requirements of building a smart city.

The total revenue of the entire information and communication industry during that period is expected to go up 6.0%/year. Software export turnover is estimated to increase by 13.3%/year, contributing to increasing the proportion of the digital economy in the city’s GRDP to more than 19.7%.

Top concern on people’s safety

The cultural and social field has recorded positive changes. The quality of education and training has been improved with many innovations in management, teaching and learning. The quality of mass and cutting-edge education has been maintained.

The city has supported 100% of tuition fees for preschool children, junior and senior high school pupils in the 2023-2024 school year.

The work of caring for and protecting people’s health is done well. Medical centres in 7 districts and 56 wards and communes were newly built or upgraded.

Heed has been on actively applying new medical technical services and specialised medical techniques. The health insurance coverage rate by 2022 reached 97.5%, 10.2% higher than the national average.

Social security and welfare policies imbued with humanity have been maintained and implemented well towards the goal of sustainable welfare such as the ‘5 No’s, 3 Yes’s’ and ‘City of 4 Safe’ programmes.

The city has issued poverty reduction policies, especially the programme “No poor households are in extremely difficult circumstances” for the 2022-2025 period.

Besides, the city has spent a total amount of about VND1,200 billion on supporting workers, employers and people affected by COVID-19 from 2020-2022.

The quality of employment exchanges, especially in districts, colleges, universities, and vocational education establishments, has been improved. More than 17,000 new jobs are created each year, and the average job creation rate is 2.97%/year.

Da Nang Today