Over the past 10 years, Da Nang has witnessed numerous positive achievements in its industrial and trading sectors.  This has helped to significantly improve the living standards of local residents, and contribute to the city’s socio-economic development in the context of industrialisation, modernisation and international integration.

In detail, industrial production has maintained an average annual growth rate of 10.5% over the 2003 - 2013 period.   Private and FDI enterprises in particular have contributed 49.2% of the city’s industrial growth.  The value of local industrial production has reached an estimated 16,000 billion VND over the past decade, a 2.7-fold increase compared with 2003. 

The city’s Vinh Trung Plaza Complex

During the period, the city’s industrial sector has generated an estimated 615 million USD from exports, representing a 13.2% increase year-on-year, fulfilling 60.9% of the city’s total export turnover target.

The city has also seen its industrial production diversify, with large-scale and high-level production of ready-made clothes, frozen seafood, rubber tyres, cement, electronics accessories, and electrical equipment.

Currently, the city is home to 7 designated industrial zones and complexes.  In addition, 3 others are under construction - the Hi-tech, IT and Hoa Khuong industrial parks.  By the end of the 1^st quarter of this year, the city’s industrial parks had attracted 376 domestic and FDI projects, valued at around 1,379 million USD.  This figure represented an increase of 163 in the number of investment projects, and about 987 million USD in investment capital, in comparison with 2003.  86% of the total rentable space in the industrial parks has already been leased to investors.

The past decade has also witnessed a continuous increase in the commercial value of the local GDP.  The total value of retail sales of goods and services over the period is expected to have risen by 24.8% year-on-year to 60,000 billion VND.  The figure is likely to be 9.1 times higher than in 2003.

Thanks to the great efforts of the city’s authorities and local businesses, Da Nang has now become a major socio-economic hub in the central region.