Da Nang before new opportunities

Panorama of Da Nang City. Photo by XUAN LAN

50 years of development

During the 18 years that Da Nang City was directly under the Central Government (1997 - 2015), the average growth rate of gross regional domestic product (GRDP) was 10.5%/year and there were remarkable, comprehensive developments with many creative and flexible initiatives. Typical are innovative and breakthrough policies such as: exploiting land funds to create capital for infrastructure construction, exchanging land for infrastructure; "The State and the people work together"...

The urban space of Da Nang from the direction of "back to the river, out to the sea" has been planned in the direction of "facing the river, out to the East Sea" spectacularly. The Han River has become a meaningful landscape axis of Da Nang. Connecting the two banks of the beautiful Han River are up to 9 typical bridges such as the Han River swing bridge, Thuan Phuoc cable-stayed bridge, Golden Dragon steel bridge, Tran Thi Ly sail bridge... Each bridge has its own beauty and history.

In particular, Da Nang City has been honored twice by the World Tourism Organization (WTA) as “Asia’s Leading Destination, Event and Festival” (2016 and 2022). In particular, the Da Nang International Fireworks Festival has become a typical brand of Da Nang, attracting domestic and foreign tourists every year. The service and tourism industry has developed strongly, accounting for more than 71% of Da Nang’s economic structure by 2024, contributing positively to the city’s socio-economic growth.

Da Nang International Fireworks Festival 2024 attracts domestic and international tourists. Photo: XUAN LAN

From a provincial city with a low starting point, after nearly 30 years of being a centrally-run city, Da Nang has a scale and economic level that is among the developed group of Vietnam.

According to data from the Da Nang Statistical Office, Da Nang's economic growth rate in the 2021 - 2025 period is estimated at 6.82%, much lower than the first 5 years after liberation (12.95%), but the economic scale (according to 2010 comparative prices) in the 2021 - 2025 period is estimated at 698.4 trillion VND, 34.4 times higher than the scale in the first 5 years after liberation.

The urban appearance of Da Nang is changing towards civilization and modernity, connecting the Central region with many large-scale, dynamic projects being invested in.

In the period of 2021 - 2025, the total social investment capital in the area reached more than 175 trillion VND, 46 times higher than the period of 1990 - 1996. Notably, from 1995 to the end of the first quarter of 2025, Da Nang attracted 1,202 FDI projects, with nearly 5.4 billion USD of registered capital, and realized capital reached 3.8 billion USD (reaching a rate of 70.37%).

GRDP of Da Nang in the period of 1976 - 2025. Source: Da Nang Statistical Office

Average GRDP per capita of Da Nang City in the period 2010 - 2024. Source: Da Nang Statistical Office

By the end of 2024, the Da Nang government has completed and put into use 41 social housing projects with 10,687 apartments and 1,146 student dormitories. This is an impressive number, as the city is leading the country in terms of social housing apartment funds belonging to public assets, with a rate of 67%.

At the same time, the city had only 1,869 poor households, accounting for 0.62% of the total number of households. Currently, Da Nang is synchronously implementing sustainable poverty reduction and social protection policies, aiming to have no poor households with working capacity by the end of 2025.

FPT Complex Da Nang, a concentrated information technology park of FPT Corporation, was inaugurated on January 2, 2025 with a total investment of VND 1,395 billion, attracting 8,000 engineers, contributing 69% of Da Nang's total export turnover and paying more than VND 326 billion to the city budget. Photo: XUAN LAN

Confident in new opportunities

Currently, compared to the requirement of becoming the economic center of the North Central and Central Coast regions, Da Nang City still has some limitations such as: Da Nang has a small area and little land.

The small size of the economy (accounting for 1.5% of the country's GDP) is not commensurate with its potential, opportunities, and competitive advantages; labor productivity is not high; foreign investment is mainly attracted in the tourism and service sectors; there are not many high-tech and source technology projects. In particular, the leading role of Da Nang City with Quang Nam Province and other localities in the Central region is not really strong and effective.

It can be said that 2024 is the year of building mechanisms and policies for Da Nang City. Da Nang City has made efforts to advise and received attention from the Central Government to issue many special and outstanding mechanisms and policies as a foundation for the city's development in the new period.

That is, the Politburo issued Conclusion No. 79 on May 13, 2024, then at the 7th Session, the National Assembly issued Resolution No. 136 on June 26, 2024 "On the organization of urban government and some specific mechanisms and policies for the development of Da Nang City"; which allows the city to develop the semiconductor industry, artificial intelligence and especially establish a Free Trade Zone.

In his speech at the ceremony to celebrate the 95th anniversary of the founding of the Da Nang City Party Committee (March 28, 1930 - March 28, 2025), and the 50th anniversary of the Liberation of Da Nang (March 29, 1975 - March 29, 2025), General Secretary To Lam emphasized that the merger of Quang Nam - Da Nang City into a new administrative unit is a historical opportunity and new fortune for Da Nang City to develop with a new vision, becoming a growth pole of Vietnam and a city with high competitiveness in the country and the Asia - Pacific region.

The blue sea of ​​Da Nang beckons locals and tourists to enjoy the experience. Photo: XUAN LAN

Comrade Nguyen Van Quang - Member of the Party Central Committee, Secretary of the Da Nang City Party Committee shared that, facing new opportunities, the Party Committee, government and people of Da Nang City will focus on a number of major orientations and key solutions.

First, develop and implement specific mechanisms and policies to maximize the outstanding opportunities and pioneering and leading role of Da Nang City in the North Central and Central Coast regions. In particular, proactively complete and submit to the Prime Minister for approval the Project to establish the Da Nang Free Trade Zone and the Regional International Financial Center in Da Nang to submit to the National Assembly for approval, expected in May 2025.

In addition, the city develops its economy on the basis of innovative thinking, promoting in-depth economic growth models, taking science and technology, innovation, and digital transformation as the driving force and main resources for rapid and sustainable development.

Develop synchronous and focused infrastructure, connect the Central region - Central Highlands, develop the East - West Economic Corridor, Mekong Sub-region; promote regional and international cooperation and connectivity.

Summarizing practices, building a socialist model and socialist people in Da Nang City; developing culture and society in sync with economic development, focusing on building and comprehensively developing Da Nang people, creating a foundation for Da Nang City to develop sustainably, aiming to build and improve the quality of the brand "Worth living city".

Focus on Party building and rectification; ensure national defense and security; promote democracy, solidarity, pioneering spirit, and exemplary role of leaders; dare to think, dare to do, strive to rise up; seek support from the Central Government, and promote the strength of the people and the business community.

In 2024, Da Nang City's economic scale will reach 151,307 billion VND, ranking 17th out of 63 localities and leading the South Central Coast region. GRDP per capita is 118.6 million VND, ranking 12th out of 63 provinces and cities. The city's economic structure will shift strongly towards increasing the proportion of service industries. In 1976, the proportion of service industries was 46%, industry - construction: 33%, agriculture - forestry - fishery: 21%; by 2024, service industries will be 77.8%, industry - construction: 20.3%, agriculture - forestry - fishery: 1.9%.

Source: https://baoquangnam.vn/da-nang-truoc-van-hoi-moi-3154628.html