The Da Nang government has issued a plan on economic restructuring for the 2021-2025 period, aiming to create a clear change for a modern, green and sustainable economic growth, and to fully tap the city’s potentials and advantages as well.

Engineers are seen working at the Sunshine aerospace components plant in the Da Nang Hi-Tech Park. Photo: TRIEU TUNG

Promoting efficiency of public investment capital

The plan specifies five major groups of tasks, with the first focusing on restructuring public investment, State budget, credit organisations and public non-business units.

The second group of tasks set in the plan is to develop different types of markets, and improve the efficiency of the allocation and use of human resources.

The third group of tasks targets corporate development, connectivity between enterprises of different economic sectors, and the reform and development of the collective economy and cooperatives.

Another group of tasks pays special attention to promoting the urban economic development, and strengthening regional and urban-rural linkages.

The last group of tasks focuses on the restructuring of sectors towards modernity, and green and sustainable growth, as well as maximising the city’s potential and advantages.

As for the task of restructuring public investment resources, the city will prioritise allocating sufficient capital sources for transition, key, social security and environmental protection projects.

At the same time, heed will be on allocating capital for projects in the process of investment preparation, and those that are expected to directly impact the city’s socio-economic development.

According to Director of the municipal Department of Planning and Investment Tran Thi Thanh Tam, every year, the city focuses on ensuring the quality of the preparation of investment projects, doing well the site clearance work, and proactively and promptly removing problems related to capital estimates and investment capital disbursement.

Thanks to its efforts, the city ensures the progress of implementation and completion of many key and motivational works and projects during the 2021- 2025 period. Included are infrastructure development projects at the Hi-Tech Park and the Software Park No. 2, the Tuyen Son - Tuy Loan riverside route, the DT 601 road, the western ring road, and a number of new industrial zones and clusters.

Impacts of industry economic structure

The city's economic restructuring for the 2021-2025 period will be carried out in agriculture, industry, and service industries which include tourism - a spearhead economic sector, and other such fields as digital technology, logistics, and medical - education services.

According to Deputy Director of the municipal Department of Industry and Trade Nguyen Thi Thuy Mai, the supporting industry is identified as one of the city’s three spearhead economic sectors, aiming to contributing to creating competitive advantages to attract more large-scale industrial projects into the city.

On July 20, the Department of Industry and Trade advised the City People's Committee to issue Decision No. 1927/QD-UBND approving the Supporting Industry Development Programme during the 2022-2025 period.

Aside from supporting industry, high-tech industry and nanotechnology are also prioritised by the city.

At the same time, the city will focus on supporting the development of priority industries for the electronics, automobile, aviation, yacht, processing and manufacturing industries.

The Department of Industry and Trade will concretise tasks and solutions for economic restructuring such as developing the sharing economy and e-commerce models.

With regard to tourism industry, the city will pay special attention to developing a variety of tourism products and services, handling bottlenecks in tourism infrastructure, restructuring tourism development space, developing human resources and diversifying markets.

According to Director of the municipal Department of Tourism Truong Thi Hong Hanh, tourism is a general economic sector, so tourism development space is identified as an important factor to develop products and effectively exploit infrastructure and resources.

Specifically, Da Nang's tourism industry will prioritise developing typical inter-regional tourism products, and locating unique products, in a bid to create a value chain and own tourism ecosystem.

As for the logistics service industry, the city will actively develop the project ‘Development of logistics services in Da Nang to effectively connect with the Central Key Economic Region and the East-West Economic Corridor for the 2021-2030 period, with a vision to 2045’, as well as invest into infrastructure development through such key projects as Lien Chieu Port, a logistics centre at Da Nang International Airport and logistics centres at dry ports in the city.

Reporting by TRIEU TUNG - Translating by M.DUNG