Boasting a favourable geographical location, Da Nang is identified as a growth core city of the Central Key Economic Region, creating a driving force for the development of the Central Viet Nam - Central Highlands regions in the process of regional and global economic integration. In that context, developing civilised and modern commerce is an important requirement to create a spacious urban appearance.

Indochina Riverside Shopping Center is home to many high-end brand stores. Photo: P.V

Good growth of trade and service activities

Retail sales of goods is one of the economic indicators that Da Nang always achieves high growth over the same period.

For example, in 2022, retail revenue of goods was estimated to reach VND65,823 billion, up 15% against 2021, the highest increase in the 2018-2022 period.

Last year, the city's domestic trade continued to maintain growth momentum with total retail revenue of VND68,614 billion, up 6.2% compared to 2022.

The continuous growth shows that the business network and commercial infrastructure in the city basically meet the requirements of the local economic development as well as the needs of the people, initially taking on the role of a goods flow centre for the Central and Central Highlands regions.

Markets, supermarkets and commercial centres are invested in both quality and quantity, greatly contributing to a clear change in the appearance of commercial infrastructure with the presence of domestic distributors such as Co.opMart, Intimex , Vincom, Winmart+, along with foreign distributors like MM Mega Market, Go!, Lotte Mart, and Parkson.

The city's commercial infrastructure system currently has 8 commercial centres; 72 general and specialised supermarkets; more than 400 convenience and buffet stores; 9,300 retail stalls, and independent business households; and a regional and international exhibition centre.

The market system is planned, upgraded and newly built both in urban and rural areas with 74 markets of all types, including 2 wholesale markets, and 6 first-class ones. The city's traditional markets maintain their competitiveness with modern distribution channels, attracting many domestic and foreign tourists to visit and shop such as Han and Con markets.

Besides, Da Nang is a transportation hub connecting the Asia-Pacific region and the world, and is one of the important gateways to the sea of the Central Highlands and the countries of Laos, Cambodia, Thailand, Myanmar to Northeast Asian countries through the East-West Economic Corridor with the ending point at the Tien Sa Port.

The abovementioned geographical advantage, and the process of implementing commitments within the framework of regional and bilateral free trade agreements (CPTPP, EVFTA, UKVFTA, RCEP...), have contributed to promoting trade development in particular and the city's economy in general.

Da Nang continues to coordinate with relevant agencies and units to propose policies to develop logistics services, creating a favourable foundation to attract imported and exported goods.

In the first quarter of 2024, total import and export turnover of goods was US$763.4 million, a rise of 9.9% over the same period in 2023; of which, exports stood at US$462.8 million, up 5.6%, and imports generated US$300.6 million, up 17.1%. The trade balance of goods in the first 3 months of 2024 maintained a trade surplus of nearly US$162.2 million.

Trade transition is increasingly modern

Besides traditional trade, the city’s e-commerce is strongly growing. After many years of implementation, the Danangtrade e-commerce platform at https://danangtrade.gov.vn/ currently has attracted 1,920 businesses with more than 2,700 listed products and services. The number of businesses listing products on the platform increases by 20-30%/year.

In addition to operating the Danangtrade platform, the municipal Department of Industry and Trade has provided training courses on e-commerce for enterprises and business households, as well as has been involved in supporting businesses to sell agricultural products on e-commerce platforms.

In 2023, Da Nang was included in the top 3 leading localities in the e-commerce index after Ho Chi Minh City and Ha Noi for the second time in a row. The Selly e-commerce platform of the Selly Co., Ltd. won the 2023 Sao Khue Award in the category for digital startup products and solutions.

Mr. Vo Van Khanh, representative of the Viet Nam E-commerce Association in the Central and Central Highlands regions, assessed that Da Nang has fully tapped its advantages in information technology as well as its role as a trading hub to develop e-commerce.

In the coming time, the association will continue to coordinate with relevant units to support enterprises and business households in the city to access e-commerce, digital transformation and consumer protection laws, thereby optimising resources and fully exploit the multinational and cross-border market, he added.

Ms. Le Thi Kim Phuong, Director of the Department of Industry and Trade, informed that in 2024, the department will continue to implement the trade promotion programme, the e-commerce development plan in Da Nang for the 2021-2025 period, and the programme to promote the Da Nang product brand associated with the campaign "Vietnamese people prioritize using Vietnamese products". It will pay attention to putting into operation the Da Nang online shopping map.

Solutions will be rolled out to stabilise the market, closely monitor market developments, and promptly deploy goods supply plans.

Importance will be attached to upgrading infrastructure of markets, and gradually ensuring commercial civilisation and food safety requirements, in order to meet the shopping needs of residents and tourists.

Reporting by M.QUE - Translating by M.DUNG