In his remarks at a meeting on Thursday to review the performance of the Da Nang Department of Industry and Trade in 2023, municipal People’s Committee Vice Chairman Tran Chi Cuong stressed the need for the unit to resolve challenges faced by local businesses in 2024.

Da Nang People’s Committee Vice Chairman Tran Chi Cuong speaking at the event

The challenges included a lack of innovation in organising industrial promotion, trade and export promotion activities, and ineffective activities calling for investment and upgrading markets, he said.

Vice Chairman Cuong informed that, the global, domestic and municipal economies are forecast to continue to face many challenges and difficulties. He, therefore, underlined the necessity for the local industry and trade sector to roll out many solutions to achieve the set goals.

The focus should be on strengthening coordination with relevant units and localities to urgently complete tasks to soon put the Cam Le Industrial Cluster into operation, selecting investors to develop technical infrastructure for Hoa Nhon and Hoa Khanh Nam industrial clusters, and perfecting documents and plans to establish the Hoa Lien Industrial Cluster, he noted.

Mr. Cuong added that importance should be attached to innovating trade and industrial promotion activities, bringing activities into depth, and ensuring priority orientation for the development of environmentally friendly industries, especially supporting industries and mechanical manufacturing.

He also underlined a must-do for the industry and trade sector to organise market price stabilisation programmes in the inner-city, local industrial parks, and rural and remote mountainous areas to serve the needs of people.

According to a report released at the meeting, the city's index of industrial production (IIP) in 2023 was estimated to decrease by 2.5% (of which the processing and manufacturing industry was estimated to decline by 3.8%), and the value added (VA) of the industry in 2023 was estimated to increase by 0.33% compared to 2022.

The total retail sales of goods last year reached VND 68,394 billion, up 5.9% against 2022.

During the year, the municipal Department of Industry and Trade organised three fairs; as well as launched 'The week of promotion to stimulate shopping demand' with the participation of nearly 10,000 businesses and 6,000 products and services.

The city's export turnover of goods in 2023 was estimated to hit US$1,864 million, down 11.6% compared to 2022. Of which, domestic enterprises earned an estimate of US$ 820 million, down 12.3%, and FDI enterprises US$1,040 million, down 11%.

The import turnover in 2023 went down 22.7% against 2022 to stand at US$1,151 million. Main imported goods were machinery, equipment, tools, spare parts, textile raw materials, natural resources and materials, steels, and modern medicine.

In the field of economical and efficient use of energy, the Department of Industry and Trade worked with the organizers of the 2023 Economical and Efficient Energy Use Award to honour businesses with energy saving solutions, and clean energy applications.

In 2024, the city’s industry and trade sector sets target of the IIP to increase by 3% compared to 2023, goods export turnover by 5-6%, import turnover of goods 2-3%, and total retail sales of goods 8-9%.

Reporting by M.QUE - Translating by M.DUNG