According to the Da Nang Statistics Bureau, the city’s service sector achieved the highest growth at an increase of 48.35% and 21.69% against 2021in the 3^rd quarter and in the first 9 months of the year respectively. It can be seen that the recovery of the service sector significantly contributes to the growth rate of total added value of the whole economy.

Shoppers are observed at the Lotte Mart Da Nang

Significantly contributes to the growth rate of the economy

The tourism sector’s positive and breakthrough recovery is reflected through the number of visitors served by local accommodation establishments between January and September at an estimate of 2.8 million, reaching 79.2% of the year target, and 2.6 times higher than the same period in 2021.

Revenue from accommodation services generated at VND 4,356.7 billion, 2.8 times higher than last year, whilst that from travel and tourism support services was estimated at VND1,529.8 billion, 7.3 times higher than the same period in 2021.

The city has successfully organised the Routes Asia 2022, a series of cultural and tourism events, the Danang Fantasticity online travel fair, and the ‘Enjoy Danang Summer Festival 2022’, the Asian Development Golf Tournament in Da Nang and the Danang Golf Tourism Festival.

The tourism promotion activities were fostered with a focus on strongly targeting domestic and international tourist markets.

Revenue from the retail sales of goods in the first nine months reached an estimate of VND48,943.4 billion, representing 76.5% of the year plan, up 19.1% over the same period in 2021.

Domestic trade activities took place vibrantly in the city, especially in the days before Tet and during major public holidays, attracting a large number of consumers.

In addition, the city has proposed the formation of some tourism markets in the city, and has launched a programme to promote the brand name of Da Nang products in association with the implementation of the ‘Vietnamese people give priority to using Vietnamese products’ during the 2022-2025 period.

Import and export activities maintained a good growth compared to the end of 2021 due to a strong hike in world demand for goods, especially textiles and seafood.

Export turnover in the first nine months of the year went up by 27.3% against 2021 to reach VND1,629.3 million. Meanwhile, import turnover during that period hit US$1,114 million, reaching 73.5% of the year plan, and a rise of 14.1% over the same period in 2021.

Transport activities have grown quite well thanks to the city's detailed plan to meet the travel demand of passengers during the Lunar New Year, and other public holidays.

The city has coordinated with relevant units to resume international commercial flights to Da Nang, complete the procedures for bidding and putting into operation 5 subsidised bus routes in phase 2 for the 2022-2027 period, open the Da Nang - Ly Son inland waterway route, and launch the CT15 inland wharf - Hon Sup - Bai Nam - Bai Da - CT15 inland wharf route.

Revenue from transportation, warehousing, postal and delivery in the first nine months of 2022 was estimated at VND17,141.4 billion, an increase of 31.2% against 2021.

Information and communications activities kept the growth momentum with the total export turnover of software climbing up by 30% against last year to reach an estimate of US$83.2 million.

Financial and banking activities continue to be promoted. It is estimated that by late September 2022, the total mobilised capital of credit institutions in the locality were VND168,000 billion, up 12% over the same period in 2021, whilst outstanding loans of all economic sectors e reached VND207,500 billion, a rise of 8.23%.

Visitors at the programme to promote typical agricultural and OCOP products in 2022. Photo: M.Q

Promoting sustainable growth

In an effort to continue promoting the growth momentum, agencies and units in the city are taking a handful of solutions to ensure the efficient operation of the service sector.

Mr. Nguyen Xuan Binh, Deputy Director of themunicipal Department of Tourism, said that in the last 3 months of the year, the department will make every effort to complete some projects on developing waterway tourism in the city until 2030, with a vision to 2045; promote the development of agricultural and rural tourism, and community-based eco-tourism by 2025, with an orientation to 2030; and effectively exploit the Nguyen Tat Thanh sea route to 2030.

Also, importance will be attached to advising the municipal People's Committee to implement the project on tourism development to 2030, with a vision to 2045, in the fourth quarter of 2022 and 2023, and to pilot the Bach Dang pedestrian street and organize tourism service activities at beaches along Hoang Sa, Vo Nguyen Giap, Truong Sa and Nguyen Tat Thanh streets.

Furthermore, heed will be paid to coordinating with airlines and airports to promote the opening of more international air  routes to Da Nang; organising a programme to welcome in Lunar New Year; and launching the check-in contest entitled ‘Enjoy Da Nang - Take me to the Sun’ on social networking platforms .

Meanwhile, credit institutions in the city are being asked to implement solutions on currency, credit and foreign exchange, and ensure compliance with the provisions of the law, especially policies to support people and businesses affected by COVID-19.

The municipal Department of Transport continues to inspect and control tourist boats operating in inland waterway routes so as to ensure safety of passengers, especially in the coming rainy and stormy season.

Greater efforts will be made to speed up the construction progress of the ongoing parking garages, as well as solutions to improve the efficiency of traffic infrastructure management and exploitation will be taken.

Reporting by M.QUE - Translating by M.DUNG