The Party's guidelines and the policies and laws adopted by all levels of government create motivation to help the Vietnamese business community, and Da Nang in particular, develop strongly.

Research and software production at FPT Software Da Nang. Photo: MAI QUE

The Da Nang leaders always show their strong commitment to accompany businesses through many specific actions, especially for two consecutive years 2014 - 2015, Da Nang chose the theme of ‘Year of Enterprises’. In addition to support policies from the national government, the municipal government is implementing 15 local support policies. Many support activities are carried out by the municipal government such as information support, promoting market expansion, organising supply-demand connections, industrial promotion, tax and fee support.

For the time being, Da Nang has 40,961 enterprises, branches and representative offices in operation with a total registered capital of VND 257,708 billion, a 10-fold increase in the number of enterprises and a 34-fold increase in total registered capital compared with 2004.

Export turnover in the first nine months of 2024 was at over US$ 1.4 billion USD, 4 times higher than in 2004. Accumulated budget revenue in the first nine months of 2024 from 3 economic sectors (state-owned enterprises, foreign-invested enterprises and non-state economic sectors) was over VND 8,919 billion, accounting for 52.5% of the city's domestic revenue.

Not only affirming their positions in the domestic market, many Da Nang enterprises have been reaching out to regional and global markets, contributing to bringing Vietnamese brands to the world and enhancing the country’s position in the international arena such as Da Nang Rubber Joint Stock Company, Hoa Tho Textile and Garment Corporation, Danapha Pharmaceutical JSC and Thuan Phuoc Seafood and Trading JSC.

Vice Chairman of the Da Nanf People's Committee Tran Chi Cuong (5th, left) congratulates the 20th anniversary of Viet Nam Entrepreneurs' Day at the programme of the Da Nang Young Entrepreneurs’ Association. Photo: M.Q

Striving for better performance

Associations and unions actively promote their role as a bridge between businesses and the government with many practical activities such as business connections; contributing ideas, gathering reasonable aspirations of the business community to send to the municipal government for attention, solving difficulties and problems facing the business community.

A typical example is the Da Nang Young Entrepreneurs’ Association with the number of members increasing from 36 in its establishment in 2000 to 750 till date, an increase of more than 20 times. Every year, member businesses of the Association create jobs for about 60,000 workers, creating revenue of about VND 40,000 billion, contributing VND1,500 billion to the budget, and export turnover of US$300 million.

Mr. Le Tri Hai, the Vice President of the Viet Nam Young Entrepreneurs’ Association, the Chairman of the Da Nang Young Entrepreneurs’ Association, said that in order to support member businesses as well as contribute to the city’s socio-economic development, the Association always organises training activities, improves business capacity, build internal and external networks to create a strong business community. In addition, the Association supports businesses in accessing policies, participating in trade promotion activities and connections with international organisations, and encourages them to apply technology and improve business efficiency.

Meanwhile, the Da Nang Women Entrepreneurs’ Association has been operating for nearly 15 years with the current number of members being 150 entrepreneurs and 7 professional boards.

Ms. Huynh Thi Cuc, the Vice Chairwoman of the Da Nang Women Entrepreneurs Association, said that the Association’s orientation is to continue its role in leading women to take charge of their finances, contributing to the overall development of the city; responsibly participate in building and reviewing policies, contributing to improving the business environment and enhancing the city’s competitiveness.

The Association also focuses on creating an environment for businesses to connect, exchange, promote business products, and at the same time encourage businesses to use each other's products, towards sustainable development and green production.

Looking back after two decades, businesses in the city have recorded positive growth, clearly demonstrating their role as the main force in managing and organising production resources, creating products, goods and services to promote the city’s growth and socio-economic development.

In the development process, in addition to the support of the authorities, businesses themselves need to proactively access information on the city’s policies and planning, strengthen cooperation with domestic and foreign businesses and organisations on the basis of the city’s vision, strategy and planning to improve competitiveness and international integration.

Reporting by MAI QUE - Translating by A.THU