A launching pad from specific policies

A springboard for a sluggish economy .

Data from the Da Nang City Statistics Department shows that the city's economic growth rate in the first quarter tended to slow down due to continued difficulties in several sectors, such as the slow recovery of industrial production, a sluggish real estate market, and a lack of positive developments in the investment and construction sectors. Da Nang's Gross Regional Domestic Product (GRDP) growth in the first quarter is estimated at 99.17% compared to the same period last year. Thus, in the first quarter, Da Nang was one of six localities nationwide with negative GRDP growth.

Da Nang is striving to boost its economy as growth shows signs of slowing down.

According to Da Nang leaders, five years have passed since the implementation of Resolution No. 43-NQ/TW dated January 24, 2019, of the Politburo on building and developing Da Nang until 2030, with a vision to 2045 (Resolution 43). During this time, the Party Committee, government, and people of the city have strived to overcome challenges and difficulties, finding appropriate methods and approaches to stabilize and develop the socio-economic situation. However, this period has also seen many unforeseen changes in the global situation, especially the negative impact of Covid-19 on the global economy. In summarizing the five-year implementation of Resolution No. 43, the Politburo also pointed out the difficulties and shortcomings in the implementation process, leading to emerging problems. At the same time, it assessed that the spatial conditions, development potential, and development resources in Da Nang are limited and require new impetus and new directions.

"The Politburo's issuance of Conclusion No. 79 on continuing to implement Resolution No. 43 is a very important document and a new impetus for Da Nang to continue to have appropriate action plans, taking the right steps with a strong and decisive breakthrough mindset to continue implementing the guiding principles, goals, tasks, and solutions set out in Resolution No. 43," the leaders of Da Nang City expect.

Previously, on May 14th, the Standing Committee of the National Assembly gave its opinion on the draft Resolution amending and supplementing Resolution No. 119. The opinions generally agreed with 30 specific mechanisms and policies. Of these, 9 policies belong to the group on organizing the urban government model in Da Nang City, and 21 policies belong to the group on the specific development of Da Nang City, proposed for pilot implementation. The Minister of the Ministry...

According to Nguyen Chi Dung, Da Nang has always been dynamic, proactive, and creative, but its development has slowed down recently. Therefore, researching and allowing the implementation of special and unique policies and mechanisms will be an opportunity for Da Nang to break through, acting as a "springboard" for its continued development.

After carefully studying the draft, Dr. Hoang Minh Hieu, Standing Member of the National Assembly's Law Committee and National Assembly representative from Nghe An province, assessed: This resolution will establish a new legal framework for Da Nang's urban government model, in line with the city's development requirements and characteristics. At the same time, the policy contents also encourage innovation in the management and operation of the city's socio-economic development, enhancing the efficiency and effectiveness of urban governance. Furthermore, the resolution will create favorable conditions for Da Nang to attract investment, develop its socio-economic sector, and improve the quality of life for its citizens.

Mr. Hoang Minh Hieu analyzed: The specific mechanisms and policies will create a more attractive investment environment, attracting domestic and foreign investment into Da Nang's key economic sectors such as high technology, tourism, and logistics. In addition, the resolution will facilitate the development of modern infrastructure for Da Nang City, including transportation, healthcare, education, and other public services. In particular, with specific incentive and support policies, Da Nang's tourism and service sectors will have the opportunity to develop more strongly, enhancing the city's position as a leading tourist destination in the region.

Transform Da Nang into an important economic hub of the region.

Among the 30 policies in the draft resolution, Dr. Hoang Minh Hieu assessed that the new policies, formulated based on an assessment of the current situation and in line with the socio-economic conditions of the city, such as: piloting the establishment of free trade zones; piloting land acquisition for socio-economic development for national and public benefit for infrastructure construction projects including logistics centers and within free trade zones; developing the semiconductor and artificial intelligence sectors; investing in, managing, exploiting, and disposing of infrastructure assets serving the development of science and technology and innovation; and the mechanism for managing the business of industrial cluster infrastructure that has received public investment... are specific mechanisms that create breakthroughs in the economic development, tourism, and investment attraction for Da Nang.

Da Nang is expected to become a world-class tourist paradise, a paradise for living and investment.

For example, the establishment of a free trade zone, expected to offer preferential tax policies and simplified, flexible administrative procedures, will attract domestic and foreign investors, especially multinational corporations looking to take advantage of these benefits. This will contribute to increased capital flows and help develop infrastructure, industry, and services in Da Nang.

The free trade zone will also leverage Da Nang's strategic geographical location with its international seaport, potentially becoming a crucial regional trade gateway and enhancing the city's role in the global supply chain. This will contribute to the development of the logistics industry through increased trade activity, improving the efficiency of goods transportation and reducing costs. Furthermore, the establishment of the free trade zone is expected to attract high-tech businesses, fostering innovation, research and development, creating new products and services, and generating new jobs in the industrial, service, and commercial sectors. This will, in turn, promote international economic relations and create opportunities for cooperation between Da Nang and other cities and countries.

"These positive impacts will help Da Nang develop strongly, becoming an important economic center not only of Vietnam but also of the region," Mr. Hieu emphasized.

Concurring, Dr. Vu Tien Loc, a member of the National Assembly's Economic Committee, argued that allowing the pilot establishment of the Da Nang Free Trade Zone, linked to the Lien Chieu seaport, to implement pilot mechanisms and policies aimed at attracting investment into Vietnam is necessary. While Vietnam currently lacks regulations on this, it is a common economic model worldwide to promote international trade and attract FDI. Many countries have successfully implemented this model, such as China, the EU, Singapore, and South Korea. Similarly, policies to develop the semiconductor and artificial intelligence sectors are also necessary for the locality to take the lead in these fields, which the government is promoting in line with global trends.

The National Assembly has decided on special mechanisms for centrally-governed cities and some localities, and in reality, these cities have all experienced remarkable development. Applying superior policies and unprecedented economic models will promote the improvement of the business environment and support businesses in enhancing their competitiveness. Da Nang will make rapid and strong breakthroughs, becoming a paradise for tourism, entertainment, relaxation, and a world-class living and investment destination.

Dr. Vu Tien Loc - Member of the Economic Committee of the National Assembly

Source: https://thanhnien.vn/dua-da-nang-tro-lai-quy-dao-tang-truong-be-phong-tu-chinh-sach-dac-thu-185240530202549431.htm