The Da Nang People’s Committee (PC) has recently announced a list of key projects accelerating the city’s progress for the 2016 - 2020 period.

In particular, the city is now in need of about 6,000 billion VND in total from its own budget to implement the withdrawal of land which has been handed over to businesses at coastal and downtown projects, and the compensation for the relocation of the Dana-Y and Dana-Uc steel factories, both of which are located in Hoa Vang District’s Hoa Lien Commune due to their reportedly polluting activities.

Of this, 5,000 billion VND will be spent on taking back land at the 7 projects. They are a coastal tourism area developed by the Hon Ngoc A Chau (Asian Pearl) Company, the DAP-DAP 1- DAP 2 project, the I.V.C company-developed coastal tourism project, a restaurant - café - bar and marina complex developed by the I.V.C company, the Vien Dong Meridian Tower project at 84 Hung Vuong Street, the Da Nang Centre project at the corner of Phan Chau Trinh and Hung Vuong streets, and a land area next to the existing APEC Park.

The remaining 1,000 billion VND will be used to compensate for the relocation of the Dana-Y and Dana-Uc steel factories.

The municipal PC has proposed a plan for raising money for the city budget through the issuance of local government bonds worth around 3,000 billion VND, and identifying the implementation stages of the key projects for the 2016 - 2020 period in line with the city’s current financial abilities.