Most of Da Nang economic sectors record growth
Within the 11.36% increase in Da Nang’s gross regional domestic product (GRDP) in the first quarter of 2025, most of the constituent sectors grew compared to the same period in 2024. The city is on right track to implement appropriate and effective solutions to maintain growth momentum.
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| IT engineers work at the FPT Corporation’s high-tech and semiconductor R&D Centre at Da Nang Software Park No. 2. Photo: MAI QUE |
Bright spots in many sectors
According to the socio-economic situation report for March and the first quarter of 2025 released by the Da Nang Statistics Office, within the 11.36% increase in GRDP in the first quarter, the service sector increased by 10.07%, the industry and construction sector up by 17.6%, the agriculture, forestry and fishery sector up by 2.61% and taxes less subsidies on products up by 10.82%. This is the highest increase in the past five years and the GRDP growth rate in the first quarter of Da Nang is the highest among the cities and provinces in the central key economic region and the block of centrally-run cities, ranking 4th out of 63 cities and provinces nationwide.
The scale of the city’s economy in the first quarter of 2025 at current prices was estimated at more than VND38,935 billion, an increase of VND5,213 billion compared to the same period in 2024. In the first quarter of 2025, service activities in the city maintained a stable growth rate thanks to strong efforts in product promotion, consumer stimulus and trade promotion.
These activities have created positive effects, contributing to promoting the sustainable development of the city’s economy, while strengthening the important role of the trade and service sector in improving the quality of life and attracting investment. The growth in added value of the entire service sector in the first quarter of 2025 contributed 7.16 percentage points to the GRDP growth of the entire city’s economy. In particular, the sectors of trade in goods, tourism, other consumer services, transportation and warehousing, finance and banking all grew.
As for trade in goods, in the first quarter of 2025, 11/12 retail groups recorded increased revenue; the retail revenue of goods was estimated at more than VND 21,252 billion, accounting for 56.6% of the total and climbing by 19.3% over the same period last year. The total wholesale sales reached over VND 40,460 billion, up 19.8% over the same period.
In the first quarter of 2025, the total import and export turnover of goods hit US$ 803 million, up 5.7% over the same period in 2024, including goods export at US$463 million, up 3%; goods import at US$340 million, up 9.7%. The trade balance of goods in the first three months of 2025 maintained a trade surplus of US$123 million.
With regard to tourism activities, revenue from accommodation and food services in the first quarter of 2025 jump by 21.1% from the same period last year to reach at VND7,392.8 billion, comprising of accommodation revenue at over VND2,885 billion, up 34.2%; food and beverage revenue at VND4,507.2 billion, up 14%.
Revenue from travel services in the first quarter of 2025 stood at VND838.6 billion, up 20% over the same period last year. Regarding other consumer services, revenue in the first quarter of 2025 was VND 8,045 billion, up 42.3% over the year-ago period in 2024. The total revenue of the entire transportation, postal and delivery sector in the first quarter of 2025 was estimated at VND 6,042 billion, up 12.7%.
The growth in added value of the finance - banking and insurance sector in the first quarter of 2025 was estimated at 6.49% over the same period in 2024, contributing 0.43 percentage points to the GRDP growth of the entire city’s economy.
In addition to the growth of the service sector, industrial production activities recorded positive results. The added value of both the industrial and construction sectors in the first quarter of 2025 contributed 3.06 percentage points to the GRDP growth of the city’s entire economy.
In particular, the industrial sector continued to recover strongly, contributing positively to the growth of the whole industry with an increase of 9.51%, contributing 1.22 points. In particular, the construction sector maintained a clear transformation since the fourth quarter of 2024 and achieved an increase of 39.96% in the first quarter of 2025, contributing 1.85 percentage points of GRDP growth...
With positive recovery signals from the world and domestic economies, it has contributed to boosting the industrial production index (IIP) of the whole industry in the first quarter of 2025 to an increase of 11.1% over the same period in 2024.
Continue to implement growth solutions
In the second quarter of 2025, the city will continue to focus on implementing the following tasks to promote economic growth such as supporting and maintaining stable production and business; accelerating the implementation and disbursement of the 2024 public investment plan; effectively implementing planning, urban management, and environmental protection; reforming administrative procedures, improving the investment and business environment to promote investment attraction; effectively implementing foreign affairs and international cooperation; effectively implementing revenue, expenditure, and budget management and administration; improving the effectiveness of administrative reform …
In particular, the city will promote the implementation of large projects with a total investment capital of over VND150,000 billion: the Lang Van Tourism Complex and Resort Urban Area project at over VND44,000 billion; Asia Park complex over VND43,000 billion; works and projects of FPT Group over VND5,000 billion. In addition, there are high-end coastal, riverside and Son Tra Peninsula resort projects totalling over VND60,000 billion; Viettel Group's IT Park project over VND2,000 billion…
When it comes to specific solutions, according to the representative of the Da Nang Department of Tourism, the tourism industry continues to implement thematic communication campaigns, associated with publicity activities, celebrating major holidays and events in the second quarter of 2025; promoting the restoration and increasing the number of international flights connecting Da Nang with India, Qatar, Australia, Osaka (Japan), China, Dubai, in parallel with opening new routes from Eastern Europe, Russia, Indonesia, Australia, the Middle East.
The city will develop, announce and organise the application of the ‘High Quality’ criteria set in tourism activities/services in the city; deploy the Da Nang Tourism Culture criteria set; develop a plan to improve the quality of tourism services and human resources in 2025; offering training courses on preparing dishes with standard Vietnamese and international regional flavours in an effort to create new tourism products.
As revealed by Ms. Le Thi Kim Phuong, Director of the Da Nang Department of Industry and Trade, in the second quarter of 2025, her unit will continue to implement trade promotion programme, the e-commerce development plan of Da Nang for the 2021 - 2025 period, the programme to promote Da Nang product brands in conjunction with the ‘Vietnamese people prioritize using Vietnamese goods’ campaign
In April, the department will organise publicity activities on the occasion of Viet Nam Brand Day, April 20; implement the trade, e-commerce promotion programme and the Da Nang product promotion programme in 2025.
Heed will be paid to implementing a plan to organise the Da Nang Summer Promotion Season programme - Mega Sale Summer Da Nang 2025, Vietnamese Goods Fair - Honouring OCOP (One Commune - One Product) 2025.
Regarding industry, focus will be on submitting proposals to the Da Nang People’s Committee for approval on resolutions developing supporting industries, managing industrial clusters in the city. At the same time, the department will speed up the progress related to the industrial clusters of Hoa Lien, Hoa Nhon and Hoa Khanh Nam.
With the role of the lifeblood of the economy, the banking industry has been implementing solutions to promote credit growth, meeting the capital needs of people and businesses.
Mr. Le Anh Xuan, the Director of State Bank Region No. 9, said that the banking sector continues to strengthen the implementation of credit programs under the direction of the Government and the Prime Minister, especially focusing on promoting the effectiveness of the VND145,000 billion credit programme for lending to social housing, workers’s housing, projects to renovate and rebuild old apartments according to Resolution No. 33/NQ-CP of the Government and the VND60,000 billion credit programme for the forestry and fishery sectors.
State Bank Region 9 directs credit institution branches in the area to seriously implement the conclusions, recommendations, guidance documents, instructions of the State Bank of Viet Nam, especially granting credit to production and business sectors, priority sectors according to the national government’s policy, strictly controlling credit to sectors with potential risks, ensuring compliance with legal regulations.
| In the first quarter, state budget revenue reached over VND8,830 billion
From January 1 to March 31, 2025, the city’s total state budget revenue reached over VND 8,830 billion, equal to 34.4% of the estimate, of which domestic revenue reached VND 8,044 billion, equal to 36.1% of the estimate and import-export revenue reached over VND 774 billion, equal to 23.1% of the estimate. In general, domestic revenue in the first three months of 2025 was quite good compared to the estimate due to the specific time of the traditional Vietnamese Lunar New Year, so consumer demand increased, production, business, trade and service activities were bustling. |
Reporting by MAI QUE - Translating by A. THU
