On Tuesday, the Economics and Budget Board of the Da Nang People's Council reviewed the performance of the municipal Department of Trade and Industry over the past 10 months.

Although the city’s economy has faced many difficulties and challenges over this period, the Department is likely to reach its targets by the end of this year.

The city’s industrial production value is expected to have then reached over 37.5 trillion VND, a rise of 10% compared with 2013.  Meanwhile, the local industrial production index is likely to have risen by 10.95% against the same period last year.

In addition, the total export turnover is likely to have earned an estimate of over 1.1 billion USD, a 13.3% increase year-on-year, fulfilling the whole year’s target.  The total value of retail sales of goods and services is expected to have hit over 62.5 trillion VND, up 17.6%.

These positive results have been mainly attributed to the great efforts made by the Department in implementing the city’s “Year for Business 2014” programme effectively.  The focus has been on supporting local businesses through various programmes to connect supply and demand links, as well as handling their suggestions in a timely fashion.  Importance has also been attached to introducing local businesses to 100 technologies which have been applied successfully in South Korea, as well as making suggestions to local relevant agencies about establishing specialised shopping areas and a night market on the eastern bank of Han River.  Measures have been taken to implement local infrastructure planning projects for trading activities and market price stabilisation programmes, as well as tightening inspections of the local commodity market.

As for next year’s tasks, the Department will perfect the development strategies for the local industry and trade sector which will be matched with the city’s development orientations.  Heed will also be paid to giving suggestions to the local authorities about issuing support policies to promote the development of the local industry sector, with a focus on light and hi-tech industries.