Da Nang is doing its utmost for the rest of this year to secure a year-on-year rise of 1.59% in the gross regional domestic product (GRDP) this year. This target was highlighted in a report released by Vice Chairman of municipal People's Committee Ho Ky Minh at the ‘Business Dialogue’ on Friday. The report informed some of the city's supportive policies over the past time and economic recovery orientations in the near future.

Till date, nearly VND77 billion from the municipal budget has been spent on providing support for employees and employers facing difficulties triggered by COVID-19.

According to the updated data released by the Da Nang branch of the State Bank of Viet Nam, as of August 31, the total loan balance triggered by the negative impact of COVID-19 in the city had reached more than VND63,350 billion, accounting for 33.6 % of outstanding loans.

With regard to tax-related support policies, the local tax watchdog has extended the deadline for the payment of value-added and corporate income taxes and land use fees in 2021 with an estimated reduction of VND1,088.4 billion, of which over VND1,088 was worth of land rental.

The municipal administration highly praised the business community for making active contribution to the city’s fight against COVID-19. The total amount of support from the business community has climbed by VND150 billion, including about VND57 billion in cash alone.

As for the city’s economic situation in the January – September period, revenue generated from accommodation and travel services is estimated to decrease by 31.3% as compared to the same period last year and the retail sales of goods is predicted to go by 5.6%.

The export turnover is estimated at US$1,306 million, up 14.9%. Earnings from transportation, warehousing and transportation support services is likely to climb by 6.3% and the industrial production index (IIP) is projected to down 4.16%.

The total state budget revenue is likely to have estimated at VND15,050 billion, equal to 69.1% of the estimate assigned by the municipal People’s Council.

The disbursement of public investment capital according to the estimate set for 2021 is predicted to have reached VND3,500 billion, reaching 50.5% and 36.7% of the targets assigned by the national and municipal governments respectively.

Da Nang is striving to secure a rise of 1.59% in its GRDP this year as compared to last year.
The aspects of agriculture - forestry - fishery, industry - construction, and services are expected to record the growth rates of 1.86%, 1.74% and 0.98%, respectively.

In the coming time, the municipal administration will place a focus on expeditiously implementing supportive policies such as approving the subsidy of premise rental at wet markets for stall holders and facilitating enterprises to access loans from social policy banks to keep their staff on payrolls and credit packages from commercial banks at preferential interest rates.

In addition, heed will be paid to speeding up vaccination against COVID-19 for labourers across the city, with priority given to workers in enterprises, cooperatives and family-run businesses.

Reporting by TRIEU TUNG, MAI QUE, VAN HOANG – Translating by A.T