Data published by the Da Nang Statistics Bureau show that between January and September, Da Nang’s social investment dropped by 12, 9% against the same period last year to stand at only 26,000 billion VND at the current prices.

The retail sales of goods tumbled by 6.1% versus the year-ago period to reach nearly 40,000 billion VND

Total FDI flows channeled into the city over the past 9 months reached 6,300 billionVND, up 48.2% as compared with the year-ago period. However, this hike was mainly recorded in a large number of the city’s major projects whose work started last year.

The services sector in Da Nang was worst hit by a second wave of the coronavirus pandemic which hit the city in late July.

The retail sales of goods tumbled by 6.1% versus the year-ago period to reach nearly 40,000 billion VND.

Total revenue generated from accommodation and catering services stood at nearly 9,800 billion VND, fulfilling only 64.3% of the figure reported in the same period last year.

The cancellation of all tours to the city due to coronavirus resulted in the decline in tourism revenue.

The Travel and Tourism revenue saw a sharp drop versus the year-ago period to only 558 billion VND.

Likewise, other consumer services earned only 9,840 billion VND in revenues, dropping by 18% against the same period last year.

Also facing the same trouble triggered by the pandemic, a 21.2% plunge was recorded in the revenue of the transportation, warehousing and transportation support services with only 11,770 billion VND generated. 

The industrial production index (IIP) decreased by 10.8% as compared to the same period last year. In detail, a sharp decline was reported in many industries, namely the mining industry down 34.3%, the manufacturing and processing 10.9%, the power generation and distribution 5%, and the water supply and waste water treatment 8.9%.

Likewise, the total merchandise import and export turnover suffer an 11.5% down to be estimated at 1,935 billion US$, whilst the trade surplus reached only 212.4 million US$.

From the start of the year to 15 September, there were 3,084 newly established enterprises, branches and representative offices worth a total of 16,600 billion VND, down 28.3% and 22.6% compared with the year-ago period in the number of businesses and the amount of registered capital, respectively.

The 9-month period also saw a total of 550 businesses and affiliated units dissolve, 1,667 temporarily shut down and 924 resume their operations. The total number of business registration procedures handled was about 20,000.

By MAI QUE – Translated by A.T