The Da Nang socio-economy has recovered well and witnessed many important positive signs, affirmed Da Nang People's Committee Vice Chairman Ho Ky Minh whilst delivering a report at the opening session of the 10^th session of the municipal People’s Council on Tuesday.

Da Nang People's Committee Vice Chairman Ho Ky Minh delivers a report on the city’s socio-economic performance at the meeting. Photo: T. HUY

Da Nang is witnessing its tourism, trade and service activities recovering strongly, thereby creating impetus for the city's economy to regain its growth momentum. It has affirmed the brand ‘the city of events’ by successfully organising many activities and festivals and received the honourable title ‘Asia's Leading Festival and Event Destination 2022’

The main industries and fields rebounded and thrived strongly. Some economic indicators were quite good. The production and business situation gradually improved with positive results in domestic investment attraction, business development, industrial development index, imports and exports, transportation revenue, information and communications technology and the mobilisation of capital from credit institutions.

The pilot of the city's urban governance model is gradually coming into order whilst the city has been recognised as the pioneer in digital transformation with many important achievements.

Also, administrative reform, smart city building, prevention against COVID-19 in combination with vaccination and treatment tasks received many positive results. In particular, the city urgently overcame the shortcomings and problems, ensuring enough drugs, equipment supplies and medical biological products; flexible teaching organisation in line with the COVID-19 developments.

Many cultural, sports and entertainment events associated with tourism have been promoted, bringing great efficiency in economic development and tourism promotion of the city.

Effective social welfare is another bright spot as social policies, especially those on poverty reduction, caring for the lives of people with meritorious services to the revolution, and support for businesses and workers affected by COVID-19 have been implemented well.

In 2022, the city’s GRDP is estimated at VND 73,859 billion, an increase of 14% as compared to 2021.

The size of the economy at current prices is estimated at VND 125,218 billion, up VND 14,032 billion from 2019. GRDP per capita is measured at US$4,309.

With regard to the economic structure at current prices, the agro-forestry-fishery sector accounted for 1.95% of the total GRDP, the industry and construction sector 20.42%, the service sector 68.39% and product tax 9.24%.

By November 30, the disbursement of the capital plan assigned in 2022 for the whole city reached VND 3,950 billion, equaling 66.2% of the plan assigned by the national government, not yet deducting the on-lending source and reaching 50.1% of the target set by the municipal People's Council.

The total state budget revenue would have reached VND 23,578 billion, equal to 120.1% of the estimate, up 3.5% compared to 2021. Out of this, domestic revenue reached VND 18,348 billion, reaching 121.4% of the estimate; import and export tax revenue was VND 5,201 billion, reaching 115.6% of the estimate.

The total local budget expenditure was VND 15,595 billion, fulfilling 95.4% of the estimate assigned by the municipal People's Council.

The city has focused on implementing poverty reduction policies with support funds from the State budget. By the end of this year, the number of poor households with remaining working capacity according to the new multidimensional standards is expected to be 6,438 at the rate is 2.14%/total number of households.

In 2023, the city will continue to effectively implement solutions for economic recovery and growth under the theme ‘The year focuses on unleashing resources, attracting investment, maintaining economic growth and ensuring social welfare’.

Efforts will be made to build synchronous and key infrastructure, speeding up disbursement of public investment capital, promote enterprise development, accelerate entrepreneurship and innovation, vigorously implement digital transformation in all industries and fields, maintain security, social order as well as build Da Nang into a peaceful, safe and reliable destination for tourists.

Reporting by T. HUY - L. PHUONG - N. PHU- Translating by A.THU