Da Nang People’s Council Chairman Nguyen Nho Trung, on Monday, chaired a meeting with some local economic experts to seek effective ways to drive Da Nang’s post-coronavirus economic recovery next year, as well as set out the city’s socio-economic development plans over the 2021 - 2025 period.

The meeting in progress

2020, for many Da Nang residents, is already being hailed as “the worst year ever” as the city braced for two waves of Covid-19 infections in April and late July. Still worse, the city was heavily battered by widespread devastating floods over recent weeks.

Given the aforementioned unexpected blows, as of late October, the city’s economy has recorded double-digit negative growth for the first time.

During the 10-month period, 774 businesses were dissolved, whilst 1,863 others had their business activities temporarily suspended. The total investment capital for social development across the city dropped by 6.1% against the same period last year, and likewise, the unemployment rate has increased significantly.

In his instructions delivered at the meeting, Chairman Trung underlined a must-do for relevant local agencies to take more effective solutions to help the city regain its economic growth momentum in the coming time. The focus should be on finding best ways to assist local businesses in driving their post-pandemic recovery.

Also at the meeting, economic experts contributed their constructive ideas and recommendations about the city’s medium-term socio-economic development plans for 2021-2025 period.

By THU HA, MAI QUE - Translated by MD