Thanks to highly effective solutions and great efforts in directing in all economic fields, in the first 5 months of 2022, Da Nang’s economic indicators recorded a good growth as compared to the same period in 2021.

Production workers at the Daiwa Viet Nam Co., Ltd. in Hoa Khanh Industrial Park, Lien Chieu District, Da Nang. Photo: M.Q

According to the Da Nang Statistics Department, the industrial production index increased up by 3% over the same period in 2021. The processing and manufacturing industry climbed up by 3.3%; electricity production and distribution industry up by 6.1%; water supply, management and treatment of waste and wastewater up by 1.4%, while the mining industry went down by 27.9%.

In terms of trade and services, the total retail sales of consumer goods and services was estimated at VND 40,039 billion, up 10.8% over the same period in 2021. Retail sales of goods stood at VND 25,953 billion, up 6.3% over the year-ago period, of which, 8 out of the 11 groups recorded an increase in revenue as compared to the same period in 2021.

The total wholesale volume of goods was estimated at nearly VND62,000 billion, an increase of 8.5%.

With regard to tourism, revenue from accommodation and food services reached VND 6,385 billion, equaling 98% of the figure reported in the same period in 2021. Revenue generated from travel and tourism support activities reached VND 401 billion, up 24.1%.

As for forwarding and transportation activities, the total revenue of the whole transportation industry; postage and delivery rose by 19.1% to reach VND9,058 billion. Of this, VND3,118 billion collected from road and rail transport services, up 5.7%; whilst waterways VND32.6 billion, up 3.2%; airways VND2,279 billion, up 88.9%; warehousing and transportation support activities VND3,192 billion dong, up 6%; postal and delivery activities VND 435.8 billion, up 8%.

The total import and export turnover of goods reached over US$1.4 billion, up 17.8%. of this, the total exports reached US$ 859 million, up 28.2% whilst the imports of hit US$ 575 million, up 5%, thus resulting in a trade surplus of US$ 283.8 million.

Mr. Tran Van Vu, the Director of the Da Nang Statistics Office, assessed that the city's economy had positive signs in the first 5 months of the year, and the production and consumption chain was gradually resumed. The basic commodity market is stable with many types of trade that meet people’s consumption needs.

Da Nang tourism is coming back on track after the severe impact of the COVID-19 pandemic, creating an impetus for the city’s spearhead economic sector to regain its growth momentum like before the pandemic appeared.

Officers guide customs procedures for business representatives at the Customs Branch of Hoa Khanh - Lien Chieu industrial zone. Photo: M.Q

Budget revenue meets and exceeds targets

According to the Da Nang Tax Department, domestic revenue from January 1 to May 31, 2022 was over VND9,353 billion , reaching 61.9% of the estimate and increasing by 20.2% over the same period. Of this, land use levy was VND 1,838.9 billion, reaching 68.1% of the estimate and equaling 329.5% over the same period; revenue from taxes, fees and other budget collections was over VND7,514 billion, reaching 60.6% of the estimate and exceeding by 4.1% over the same period.

Accordingly, most of the major revenues and taxes increased, in which revenue from foreign-invested enterprises and non-state economic sectors made a hike as compared to the same period.

Meanwhile, according to Da Nang Customs Department, the import and export revenue from January 1 to June 1, 2022 was VND 2,441.83 billion, reaching 54.26% of the initially-assigned State budget revenue target assigned (VND4,500 billion), reaching 50.2% of the striving target (VND4,860 billion) and increasing 9.56% over the same period in 2021.

According to the Da Nang Customs Department, the increase in revenue as compared to the same period in 2021 was mainly attributed to a number of items with increased import and export turnover and tax amount.

The export of sand and quartz powder soared up by 185.5 % and the tax payable increased by 177.9%; aluminum scrap up by 56.4% and tax receivable went by 53.8%.

The import of auto components, spare parts and accessories went up by 22.7%, tax receivable up by 8.9%; machinery and equipment, tools and instruments up by 36.5%, tax receivable up by 12.6%; chemical products, chemical products up by 17.1%, tax receivable up by 16%; brick and stone products up by 35.8%, tax receivable up by 10.1%; paper products up by 40.7% and tax receivable up by 30.2%.

Mr. Truong Cong Khoai, Deputy Director of the Da Nang Tax Department, in order to reach the domestic revenue estimate in the second quarter as well as the completion of the 2022 budget collection task, the whole city tax industry is focusing on implementing a number of solutions and measures such as strengthening the supervision of tax declaration and the tax payment by large and key enterprises.

In order to further improve the efficiency of import-export budget revenue, Mr. Quach Dang Hoa, Director of the Da Nang Customs Department, said that the industry will focus on post-clearance inspection, shortening customs clearance time and expenses and administrative fees for businesses.

Reporting by MAI QUE - Translating by A.THU