In the first quarter of this year, Da Nang’s economic growth rate has been higher than in the same period last year. 

Between January and March, the city’s gross domestic product (GDP) rose by 7.88% compared with the same period last year to reach 10.9 trillion VND.  The total value of local retail sales of goods and services over the past three months hit over 14.7 trillion VND, with total export turnover of goods generating 246.7 million USD. 

In addition, the number of tourist arrivals to the city went up by 17% against the same period last year to 878,000.  Thank to this, the city’s tourism sector earned an estimated 2.620 trillion VND in revenue.

Secretary Tho speaking at the event

The city’s industrial and agricultural production activities also had remarkable achievements.  The total local tax collection reached an estimated 2.979 trillion VND, fulfilling 27.3% of the year’s target set by the central government.  The majority of local key projects were kept on schedule.

During the period, the city saw considerable achievements in the healthcare, education and culture sectors, and political security and social order have been maintained. 

Since the start of the year, the city has attracted 11 FDI projects, worth 3.8 million USD in total, but none are large-scale projects which could create new breakthroughs in local economic development.

This information was released on Monday at the 20^th open conference of the city’s Party Committee (PC).

Speaking at the event, the municipal PC Secretary Tran Tho asked local relevant agencies to seek suitable solutions to effectively deal with the problem of attracting fewer FDI projects .  Moreover, they were also urged to revoke the investment licences of 45 seaside and inner-city construction projects due to delays in their implementation against their commitments with the city’s authorities.