The Da Nang Statistics Bureau has announced 11 socio-economic development indicators of Da Nang. Da Nang took the lead amongst localities in the central key economic region in terms of the gross regional domestic product (GRDP) scale, ranked 4^th in terms of growth rate, and retained its 16^th place out of 63 centrally-run provinces and cities nationwide in the first half of this year.

In detail, the growth rate of Da Nang GRDP in the first half of 2021 surged by 4.99% from the same period last year. The city's economy is gradually rebounding and escaping from the negative growth rate as reported last year.

Out of the total socio-economic development indicators, the service sector climbed by 5.34% whilst the industry and construction sector up 2.85%, and the taxes less subsidies on production up 7.99%.

Meanwhile, the agro-forestry-aquaculture saw a decline of 0.08% over the same period last year.

Da Nang economy’s scale was valued at VND52,857 billion in the first half of this year.

As for the structure of the economy, the agriculture, forestry and fisheries sector accounted for 2.37%, the industry and construction made up for 20.62% and the service sector appropriated 66.01%.

With regard to business registration, from the beginning of the year to June 15, a total of 2,107 companies, branches and representative offices worth a total of VND11,262 billion were set up, a rise of 6.4 % and 4.3 % in the number of newly-established firms and in the total registered investment capital respectively, compared to the year-ago period.

The total investment capital for social development in the 6-month period climbed by 2% from the same period last year to stand at VND 18,253 billion. Of this, VND4,597 billion worth of the State funding accounted for 25% of the total, up 25.1%. VND10,868 billion came from the non-state sector, making up for 59.5% of the total, up 15.9%. FDI channelled into Da Nang this year is estimated to decrease by 4.2% to reach VND2,788 billion, accounting for 15.3% of the total.

The State budget collection had reached VND10.7 trillion as of June 20, a year-on-year decline of 3.5%.

Meanwhile, budget spending had neared 15.18 trillion VND, up 7.6 percent compared to the same period last year.

The total import and export turnover of goods in the 6-month period was estimated at US$1,449 million, up nearly 16% over the same period last year.

The average consumer price index (CPI) increased by 2.31%.

The unemployment rate in the city was 7.27 percent in the first six months of the year. By the end of June, local authorities had allocated more than VND501.7 billion to support 326,141 people, primarily laid-off workers, small-sized household businesses and policy beneficiaries.

Deputy Director of the Da Nang Statistics Bureau Tran Nam Trung said that achieving the GRDP growth target of over 6% for 2021 as initially planned is a big challenge amid the COVID-19 resurgence remains complicated and unpredictable.

Through recent surveys on the impact of the coronavirus wave on businesses, the Da Nang Statistics Bureau has proposed some proper measures to boost the local economic development in the coming time.

Focus will be on supporting the business community, accelerating the disbursement of public investment capital, spurring sustainable aquaculture development, restructuring agricultural fields, developing key agricultural products, facilitating enterprises to access loans from credit institutions for their production and business activities, restructuring debt repayment terms and keep debt groups unchanged, and promoteing non-cash payment activities.

Reporting by MAI QUE – Translating by A.T