The city ranked 16th in Viet Nam in the size of the economy
Da Nang has been ranked 16th in Viet Nam in the size of the economy, down one place from the 15th place in the 2016 – 2019 period.
The city is amongst 12 Vietnamese localities with minus growth in the first half of the year, and one of the 5 localities with the lowest growth rate in the country.
Da Nang saw its gross regional domestic product GRDP for the first half of this year contract by 3.61% from the same period last year, the first time since it was recognised as a centrally-governed city on 1 January 1997.
The city’s GRDP in the first half of the year stood at over 51 trillion VND (2.19 billion US$ at current exchange rate), down by 917.6 billion VND year on year, due to the negative impact of the COVID-19 pandemic.
With regard to business registration, from the start of the year to 15 June, there were 1,916 newly established enterprises, branches and representative offices worth a total of 10,723 billion VND, down 32.2% and 20.5% compared with the year-ago period in the number of businesses and the amount of registered capital, respectively.
The total investment capital for social development dropped by 8.07% against the same period last year to stand at 17,641 billion VND.
As of 25 June, the total State budget collection has been estimated at 11,320 billion VND, reaching 36.6% of the year’s estimates.
The total import and export turnover as of May 31 has hit 1,044 million US$, a decrease of 11.1% over the same period last year.
The inflation in the first half climbed by 1.65% compared to the same period last year. The average consumer price index (CPI) saw an increase of 4.42%.
Mr Tran Van Vu, the Head of the city’s Statistics Bureau, announced his organision has worked with functional bodies to map out economic development scenarios for the remaining months of the year. In the worst scenario, the city will see a minus growth for the entire 2020, while the best predicts a growth of 2-3%.
In fact, the restoration of business and production depends on the epidemic situation in countries which are Viet Nam’s big trade partners.
As for economic development solutions in the coming time, Mr Vu underlined a ‘must-do’ to support the business community, with more heed paid to such tasks as handling land site clearance, accelerating public investment disbursement, promoting the development of organic agriculture and ensuring the supply and consumption market of agricultural products.
By MAI QUE - Translated by A.T