Speaking at the Wednesday meeting on the midterm review of the implementation of the Resolution adopted at the 22^nd Congress of the Da Nang Party Committee in the 2020-2025 term, municipal People’s Committee Vice Chairman Ho Ky Minh revealed that the city has developed three scenarios for its economic growth from now to the end of the term.

Municipal People’s Committee Vice Chairman Ho Ky Minh speaking at the meeting

Accordingly, in the first scenario, the average annual growth rate of the Da Nang gross regional domestic product (GRDP) is forecast to increase by 7.2% per year in the 2024-2025 period and by 6.5-7% per year in the 2021-2025 period.

In the second scenario, the average annual growth rate of GRDP will be 7.5-8% per year. With the scale of GRDP in 2021 and 2022 (2010 constant price) having exceeded the scale of 2019, the growth rate in the 2024-2025 period is expected to reach 9.5-10% per year.

In the third scenario, the average growth rate will go up about 12.8% per year in the 2024-2025 period and 9% per year in the 2021-2025 period.

According to Vice Chairman Minh, in order to strive to achieve the growth target according to the selected scenario No. 2, the city needs to implement drastically and synchronously key tasks and solutions.

The focus will be on continuing to help businesses remove difficulties and free up investment resources, especially for large-scale projects that are delayed for many years.

Importance will be attached to fostering socio-economic development, strongly renewing growth model, restructuring the economy, developing tourism into one of the city’s spearhead economic sectors, and promoting the opening of direct international flight routes to key customer markets.

Attention will be paid to appealing for investment to form a non-tariff zone; duty-free chain stores; modern, world-class commercial centres and shopping malls; and retail stores of well-known branded products at suitable locations, especially in the Da Nang International Airport, resorts and five-star hotels.

Also, heed will be on strongly developing the high-tech industry and information technology in association with accelerating the construction of innovative start-up and smart cities, thereby creating a foundation for promoting the digital economy.

Great efforts will be made to put the Software Park No. 2 into operation, as well as speed up the establishment of the Creative Space Complex in Hoa Xuan Ward, the Viettel Software and Hi-tech Centre, and the Da Nang National Innovation Centre.

The city is in need of building ecological, modern and sustainable agriculture; setting up OCOP Centres to perform the function of connecting, supporting and promoting OCOP and featured products; and accelerating the progress of key projects, creating a driving force for the city's socio-economic development.

A number of policies to encourage socialisation in the city, especially in the fields of education, healthcare, culture, sports and environment will be issued in the coming time.

Reporting by NGOC PHU - Translating by M.DUNG