Eight months after the implementation of the theme for 2022 of safe and flexible adaptation, effective control of the COVID-19 pandemic, and driving socio-economic recovery, Da Nang recorded impressive growth across all economic sectors. This postive achievement was mainly attributed to the city’s great efforts after nearly 2 years of its dual task performance with a focus on effective control of the COVID-19 pandemic and rapid economic recovery.

Picture is taken at the Ha Giang Phuoc Tuong Mechanical Joint Stock Company. Photo: KHANH HOA

Gaining rapid recovery with impressive growth

Tourism, travel-related services and trade are bright spots in the city's economic picture over the past 8 months. Since the beginning of the year, the city has held a series of large and small events across these sectors, thereby contributing to stimulating demand for goods, widely promoting tourism products and travel-related services. These postive results have been attributed to determination and effort of the Da Nang government in implementing solutions to rapid economic recovery, especially the recovery of key economic sectors from the COVID-19 crisis.

Data provided by the Da Nang Statistics Department showed that the revenue from accommodation and food services during the eight month period was estimated at 11,859 billion VND, up 56.1% from the same period in 2021. The number of visitor arrivals at tourist accommodation establishment was estimated at nearly VND 2.4 million, up 125.7% over the same period last year.

According to the municipal Department of Tourism, between March and August, Da Nang welcomed more than 200,000 passengers from 1,500 international flights. The city’s tourism industry is forecast to continue to record strong recovery in the near future with a rise in visitor arrivals from some of major tourism markets to the city, including South Korea and Japan after these countries will gradually lift or ease their existing COVID-19-related travel restrictions and testing requirements for COVID-19.

Data publised by the Da Nang International Terminal Investment and Operation Joint Stock Company (AHT) showed that the number of international visitors to Da Nang will continue to increase in the remaining months of the year. By late October, Da Nang is expected to receive more than 1,200 international flights carrying more than 180,000 passengers in total. Between late October 2022 and late March 2023, 9 domestic and foreign airlines will operate about 2,700 flights with about 360,000 passengers onboard. It is expected that a number of new routes linking Da Nang with such international destinations as Australia, India and the Philippines’s Cebu City will be launched.

Apart from tourism, travel-related services and and trade have recorded a continuous growth since late 2021. The sales value of retailing in the city in the past 8 months amounted to an estimated VND 43,127 billion, up 16.1% from the same period in 2021.

Da Nang’s Consumer Price Index (CPI) in August decreased by 0.2% from the previous month, and up 4.25% over the same period last year, the least in eight months, easing from a 4.25% increase compared to the same period in 2021. The decrease in the overall index in August was attributed by the city's policy of tuition fee exemption and reduction for primary school pupils in the 2022-2023 accademic year along with significant contribution of hi-tech and information technology industries plus other industries to the city's economy.

Da Nang’s industrial production is now on the path to recovery. The city’s index of industrial production (IIP) in the first 8 months of 2022 was estimated to climb by 9.3% from the same period in 2021. The value of exports from Da Nang amounted to an estimated USD 181 million in August, an increase of 38.4% compared with the same period a year earlier, bringing the total value to an estimated USD 1,406.9 million in the first 8 months of 2022, up 23.4%. In which, USD 74 million were earned from software exports, up 27% over the same period in 2021.

Sine the beginning of the year, the Authority of the Da Nang Hi-Tech Parks and Industrial Parks has granted investment licenses to 3 FDI projects with a total registered investment capital of USD 65 million and 12 domestic projects totalling more than VND 2,700 billion.

Another bright spot in the Da Nang’ economy is a rise of 40.7% over the same period in 2021 in the number of businesses that have resumed their operations.

Many key economic sectors in the city have achieved impressive growth since the beginning of the year. IN THE PHOTO: Workers at the Daiwa Vietnam Company Limited located in Hoa Khanh Industrial Park, Lien Chieu District. Photo: KHANH HOA

Must-do tasks through the rest of 2022

In the remaining months of the year, departments, agencies and sectors across Da Nang will take proactive steps to keep the city's economy on the right track in a bid to achieve its goals set for 2022.

Mrs Truong Thi Hong Hanh, the Director of the Municipal Department of Tourism said that the city will continue its efforts to refresh tourism products and improve the quality of travel-related services, boost tourism marketing strategy, and restore international tourism through the rest of 2022 in order to create a strong premise for tourism development in 2023.

For the industry and trade sectors, Mrs Le Thi Kim Phuong, the Director of the Municipal Department of Industry and Trade, remarked that the heed will be paid to taking all necessary measures to keep prices stable, delivering a sufficient supply of essential consumer goods and food to meet the demand from local people, especially during the rainy season, New Year holidays and Tet Festival. In addition, importance will be attached to accelerating key projects, including Hoa Phuoc Wholesale Market, Con Market; Han Market upgrades, and a draft plan for developing the infrastructure in industrial clusters in the 2022-2030 period.

Mr Pham Truong Son, the Head of the Authority of the Da Nang Industrial Parks and Industrial Parks, said that the focus will be on conducting investment promotion activities in Singapore, India and South Korea in the coming time in addition to implemeting must-do tasks to establish new industrial parks.

In particular, special attention will be paid to seeking approval from the Prime Minister to develop the Hoa Ninh Industrial Park in Hoa Vang District, as well as making boundary adjustments to Hoa Nhon Industrial Park in Hoa Vang District in line with the direction from the municipal government. Moreover, heed will be paid to continuing to carry out projects to call for investment in new industrial parks namely the phase 2 of Hoa Cam, and Hoa Nhon, Hoa Ninh, Hi-tech park, as well as to convert the Da Nang Industrial Park into the An Don Trade Centre. Besides, report on the performance of the Da Nang Seafood Service Industrial Park in Son Tra District will be submited to the municipal administration for consideration of the establishment of industrial clusters.

Reporting by KHANH HOA – THU HA – Translating by H.L