In the last half of the year, Da Nang will focus on accelerating the disbursement of public investment capital, and speeding up the site clearance work to create a "clean land fund" for investors to soon implement projects, and others.

The affirmation was made by municipal People’s Committee Vice Chairman Ho Ky Minh during his report on the city’s socio-economic development situation in the first 6 months of the year at the opening ceremony of the 12^th session of the Da Nang People's Council in its 10^th tenure for the 2021 - 2026 term on Monday morning.

Vice Chairman of the Da Nang People's Committee Ho Ky Minh reports on the city's socio-economic situation in the first 6 months of 2023.

According to Mr. Minh's report, between January and June, the city's gross regional domestic product (GRDP) was estimated to increase by 3.74% over the same period in 2022, exceeding the scale of the first 6 months of 2019 (before COVID-19) by more than VND13,000 billion at current prices and more than VND4,000 billion at 2010 constant prices, an increase of 13.5% compared to the first 6 months of 2019. In which, the added value of accommodation and catering services (accounting for 6.2% of the GRDP structure) rose by 32.8%.

The added value of transportation and warehousing (accounting for 11% of the GRDP structure) went up 12.3%; that of information and communication industry (accounting for 6.7% of the GRDP structure) 2.2%; that of the finance, banking and insurance industries (accounting for 5.8% of the GRDP structure) 7% over the same period in 2022.

As of June 30, 2023, the city had approved and adjusted investment policy decisions for 15 projects with a total registered investment capital of VND38,881.636 billion. It had attracted US$27.341 million from FDI projects. Of which, the municipal government granted investment certificates to 67 new projects, and 20 existing projects raised their capital.

Also in the first 6 months of 2023, the whole city had 2,228 newly established enterprises, branches and representative offices with a total registered charter capital of VND 9,446.12 billion.

Vice Chairman Minh assessed that the resumption of the Da Nang International Fireworks Festival 2023 attracted a large number of tourists to the city. The city’s total state budget revenue in the first 6 months of 2023 was estimated at more than VND10,472 billion, equaling 45.2% of the estimate assigned by the municipal People’s Council.

However, the city's economy was still affected by many internal and external factors causing a decrease in production order numbers, and import and export turnover. In addition, it is still difficult for enterprises to access credit capital. Besides, the city's large land fund is quite limited. The Hi-Tech Park, and Concentrated Information Technology Park, have yet to attract more investors due to incomplete infrastructure.

Mr. Minh, therefore, stressed the need for the city to accelerate disbursement of public investment capital plan in 2023, thereby expediting the completion of key projects in the city and creating a "clean land fund" for investors to soon implement projects.

Heed will be on piloting the organisation of an urban government model and a number of mechanisms and policies specific to city development to recommend, propose adjustments, and create favourable conditions for the city's development in the coming time, he added.

Reporting by DNO - Translating by M.DUNG