On Tuesday, a group of inspectors from the Standing Committee of the National Assembly (NA), led by the Deputy Head of the NA's Economic Committee, Mr Mai Xuan Hung, had a working session with representatives from the Da Nang authorities.  They reviewed the city’s global economic integration since Viet Nam officially became the 150^th member of the World Trade Organisation (WTO) on 11 January 2007.

The Deputy Director of the city’s Department of Industry and Trade, and the municipal WTO Centre, Mr Lu Bang, remarked that since Viet Nam’s entry to WTO, the city's economic structure has been moving in the right direction thanks to numerous effective macro-economic policies.

An electronic components factory in Hoa Khanh Industrial Park

Between 2007 and 2014, the city’s total production value climbed by 9.4% year-on-year.  The number of State-owned businesses operating in the city reduced from 46.3% in 2007 to 24.4% in 2014, whilst private enterprises increased from 46.6% to 62.9%, and foreign direct investment (FDI) businesses rose from 5.1% to 12%.

The city leaders briefed their guests on the incentive strategies for helping the city to earn its status as a pioneer in accelerating the development of the central region, ensure closer links with other regional localities, and accelerate the development of local tourism.

Ways to encourage local businesses to take the initiative in integrating into the global economy and the effective issuance of municipal government bonds to raise funds for local socio-economic development projects were presented at the event.

There were also reports about the appraisal of local urban planning and development projects, the progress of local key projects funded by the central government’s budget, and some issues related to attracting more FDI flows into the city and developing high-quality human resources.

The impact of WTO integration on local security and the operation of local businesses was also identified at the event.