Departments, agencies and branches across Da Nang have been concentrating on rolling out a host of measures to promote local economic growth.

The city's tourism industry makes an important contribution to promoting economic growth. IN PHOTO: Visitors at the Marble Mountains Tourist Area. Photo: M.Q

Service sector continues to flourish

Positive signals from the service sector are shown in the total retail sales of goods and consumer service revenue in March estimated at VND10,004 billion, up 7% against February and up 7.3% over the same period last year.

In the first quarter of 2024, total retail sales of goods and consumer service revenue reached VND30,215 billion, a rise of 10.1% over the same period last year, of which revenue from accommodation and food services increased by 19.8% and that from tourism industry by 68.9%.

The excitement of tourism activities is the result of promoting Da Nang tourism to countries around the world and stimulating domestic demand in recent times, especially the effectiveness of Viet Nam's new visa policy extending tourist e-visas from 30 to 90 days from August 15, 2023.

Import and export activities showed more signs of improvement thanks to the local customs sector’s great efforts in increasing data inspection on the professional software system, collecting information, and determining value for suspected cases of low and unreasonable declared value.

At the same time, the local customs sector gave priority to reviewing and inspecting items on the list of export and import goods with classification risks and import and export goods with large turnover.

The total two-way import and export turnover hit US$280 million, up 40.9% over the previous month and up 4.5% over the same period in 2023.

Overall, in the first quarter of 2024, total import and export turnover of goods is estimated at US$763.4 million, up 9.9% over the same period in 2023. Specifically, exports are estimated at US$462.8 million, up 5.6%, whilst imports likely to hit US$300.6 million, up 17.1%.

The consumption index of the entire processing and manufacturing industry in March is predicted to go up 35.1% against February and 0.3% in comparison with the same period in 2023.

Overall, between January and March, the consumption index rose by 3.5% over the same period. Many industrial products had a remarkable increase in volume compared to the first quarter of 2023 such as prepared glue and other prepared adhesives recording a rise of 76.6%; prefabricated metal house components by 70.6%; and woven fabrics made from cotton fibers with a cotton density of 85% or more by 66.6%.

The city is continuing to seek solutions to promote economic growth from now until the end of 2024. IN PHOTO: Production activities at the Universal Alloy Corporation Vietnam Co., Ltd. Photo: M.Q

Growth stimulation solutions carried out synchronously

Mr. Tran Van Vu, Director of the city’s Statistics Bureau stressed the need for the city to roll out some key solutions in an effort to improve and promote economic growth.

Notable among them include the development of new and attractive tourism products; the regular organisation of captivating events and festivals to lure more tourists to the locality; the effective implementation of domestic consumption stimulation programmes; the issuance of policies to support the development of logistics services; active support for ongoing projects, especially large-scale ones; administrative reforms; and diversification of partners and investment forms.

Mr. Nguyen Van Tru, Deputy Director of the municipal Department of Industry and Trade, informed that the department is coordinating with relevant units to complete procedures to put the Cam Le Industrial Cluster into operation in the near future, deploy investor selection procedures for the Hoa Nhon and Hoa Khanh Nam industrial clusters, and carry out procedures to establish the Hoa Lien Industrial Cluster.

Additionally, the department is paying special attention to selecting investors for the Hoa Phuoc Wholesale Market project as well as proposing support policies for the development of logistics services, creating a favorable foundation to attract the flow of imported and exported goods in the city.

Ms. Tran Thi Thanh Tam, Director of the municipal Department of Planning and Investment, said that the department has advised the People's Committee on solutions to promote the effectiveness of inter-sectoral working groups in removing difficulties and obstacles in planning, investment and construction, as well as coordinated with relevant agencies and units to take measures for delayed projects.

As planned, the city will spend about VND4.2 billion and around VND12.2 billion on supporting small and medium-sized enterprises in 2024 and in the 2024-2026 period respectively.

Reporting by M.QUE - Translating by M.DUNG