During the 2017 - 2020 period, Da Nang’s private economic sector recorded impressive imprints, thrived at a rapid pace in terms of both quality and quantity, hereby affirming its important role in speeding up the city’s economic growth. 

A scene of electronic components production at Da Nang-based private bussiness

The private economic sector accounted for 64.3% of the local economic structure in 2017, and this figure climbed to 65.35% in 2018, 64.97% in 2019 and 65.76% in 2020.

By 2020, the proportion of the State-run sector in the local economic structure had reached 23.8%, whilst that of the non-State sector, which comprises collective and new cooperative models, 55.9%, and foreign-invested enterprises 9.9%.

Over the 2017 – 2020 period, the municipal administration granted business registration certificates to a total of 18,868 businesses, branches and representative offices with a total registered charter capital of 96,587 billion VND.

As of 15 November, Da Nang had housed a total of 32,317 businesses, branches and representative offices with a total registered charter capital of 221,635 billion VND.

In regard to domestic investment attraction over the three-year term, the municipal government granted investment licences and issued investment policy decisions to 128 domestic investment projects worth a total of 60,765 billion VND.

From the beginning of 2020 into mid November, in particular, an investment license was granted to one project, whilst investment policy decisions went to six other domestic investment projects totalling 16,373 billion VND outside IPs, 1.9 times higher than the figure reported in the same period last year. Of special note, all of them are large-scale projects with each worth more than 1,000 billion VND.

Till date, Da Nang has attracted 704 domestically–invested projects totalling 147,551 billion VND, of which 340 ones worth 121,269 billion VND are located outsides industrial parks (IPs).

As for foreign investment attraction segment over the three-year period, Da Nang  attracted 453 FDI projects with a total registered investment capital of 966.9 million US$.

In particular, 49 existing projects raised their capital with a total additional sum of over 154 million US$.

Besides, the capital contribution and the purchase of shares by 570 foreign investors reached a combined total of more than 203 million USD.

As of mid-November, the city had been home to 876 FDI projects valued at over 3.5 billion US$ in total.

The aforementioned figures, which have been reported by the Da Nang administration to the Ministry of Planning and Investment, showed the fact that the central Vietnamese city’s private sector has run well in a right course, in an active response to the central government-adopted resolution on developing the private economic sector into an important driving force of the socialist-oriented market economy.

By TRIEU TUNG- Translated by A.T