Da Nang's economy is changing strongly.

Da Nang has an important geopolitical and economic position and high international traffic connectivity. IN PHOTO: A corner of Tien Sa port . Photo: MAI QUE

Impressive numbers

According to the statistics of Da Nang City Department of Statistics, the city's economy has grown quite well over the years, with an average growth rate of gross social product reaching more than 9%/year. The scale of the city's economy in the period of 2016-2025 increased by about 34.4 times compared to the period of 1976-1985 and increased by about 6.3 times compared to the period of 1996-2005. With the expansion of services, tourism has become a key economic sector, forming a competitive brand of international stature, becoming an attractive, safe and friendly destination for domestic and foreign tourists.

The most prominent feature of the city is the urban planning and renovation, and the synchronous development of infrastructure. From a small city, Da Nang is now a locality with an urbanization rate of 87.2%, twice as high as the national average. The mobilization of large capital sources has contributed to promoting socio-economic growth, and investment efficiency has been significantly improved through each period with many new production capacities added to the economy.

The total social capital disbursed in the 2021-2025 period is nearly 22 times higher than that in the 1997-2000 period. After 30 years since the first FDI project invested in Da Nang, the city has attracted 1,202 projects, with nearly 5.36 billion USD in registered capital and 3.77 billion USD in implemented capital.

In recent years, Da Nang has been known as a smart city with 5 consecutive years receiving the Vietnam Smart City Award; 14 consecutive years leading the Vietnam ICT Index; 4 consecutive years (2020-2023) winning the Vietnam Digital Transformation Award; 4 consecutive years (2020-2023) ranking first in the provincial Digital Transformation Index; 3 consecutive years (2022-2024) being a typical locality proactively implementing the 4th industrial revolution and digital transformation at the "TOP Industry 4.0 Vietnam - I4.0 Awards" award ceremony...

With this result, Da Nang continues to affirm its pioneering role in the national digital transformation, which is an important foundation for the city to realize its goal of becoming the leading digital economic and technology center in the region in the coming time.

Da Nang has been honored as a Smart City of Vietnam for five consecutive years by the Vietnam Software and IT Services Association (VINASA). IN PHOTO: Delegates visit the exhibition booth at Da Nang Software Park No. 2. Photo: MAI QUE

Transforming with new development models

In recent times, the Central Government has paid much attention to the city to maximize its potential and advantages. The Politburo has twice issued resolutions on the construction and development of Da Nang: Resolution No. 33-NQ/TW dated October 16, 2003 on the construction and development of Da Nang city in the period of industrialization and modernization of the country and Resolution No. 43-NQ/TW dated January 24, 2019 on the construction and development of Da Nang city to 2030, with a vision to 2045. In 2024, the National Assembly issued Resolution No. 136/2024/QH15 on the organization of urban government and piloting a number of specific mechanisms and policies for the development of Da Nang city, effective from January 1, 2025.

The city also closely follows and closely links the implementation of Resolution No. 26-NQ/TW of the Politburo (13th tenure) on socio-economic development and ensuring national defense and security in the North Central and Central Coast regions to 2030, with a vision to 2045.

Currently, Da Nang is striving to build a dynamic economic center of the region and the whole country. With the advantage of an important geopolitical and economic position and high connectivity in international traffic with many large-scale projects and works such as the international airport ranked as the best in the world, Lien Chieu port project, Da Nang High-Tech Park... and especially in the coming time when combined with the free trade zone, the financial center will open up opportunities to develop international financial - trade and high-tech links to make Da Nang become a gateway connecting investment - trade - finance - technology of Vietnam and the ASEAN region.

Da Nang Free Trade Zone is Vietnam’s first free trade zone, focusing on promoting value-added exports, smart logistics and next-generation manufacturing. The development project will include: Advanced manufacturing and supply chain center focusing on semiconductors, biotechnology, medical devices and renewable energy; multimodal logistics and global trade, seamlessly integrated with Lien Chieu Port and Da Nang Airport, enhancing regional trade connectivity and Vietnam’s supply chain efficiency with the world; digital economy and smart industry, specifically a specialized ecosystem for artificial intelligence, cloud computing, e-commerce and blockchain technology. Thus, the operating model of Da Nang Free Trade Zone is multifunctional and oriented towards high technology and innovation.

Attached to the Da Nang Free Trade Zone is Lien Chieu Port, an international transit port oriented towards a green port and a smart port. Lien Chieu Port is located right on the international shipping channel, the distance from the port to the international shipping channel is 7.3km; by road, the connection from the port to the national transport system is 4km; directly connected to the national railway system is 1.5km.

The city has invested in completing the shared infrastructure system connecting to the port gate and continues to invest in completing the infrastructure connecting from the port to the functional areas of the free trade zone. Da Nang possesses many favorable conditions for developing warehouses, becoming a transit point for raw materials serving production activities, thereby developing commodity exchanges in the future. This not only facilitates the trade of goods but also contributes to providing resources for major projects in the city and the region in various fields.

The financial center will focus on specialized fields, combining the advantages of the city's geographical location, economy and living environment, urban infrastructure, tourism and resort services. Resolution No. 29-NQ/TU of the Standing Committee of the City Party Committee on building the Vietnam International Financial Center in Da Nang City determines that by 2030, the Da Nang City Financial Center will be built and effectively operated, attracting strategic partners, financial institutions, support services, legal services and international and domestic legal, accounting and auditing consulting units to invest and operate. The vision of the financial center will be to become a center of innovation, green and sustainable investment.

The city is preparing both hard and soft infrastructure to build a financial center. Together with the constantly improving living environment, it will bring a good quality of life to investors, experts, and scientists who come to live and work in Da Nang. All these factors combine to create a creative, sustainable, and connected financial ecosystem for the Da Nang International Financial Center, thereby contributing to enhancing the position of the country in general and being a driving force for growth, creating new development space to turn Da Nang into a major center for international trade, services, and technology.

CINNAMON

Source: https://baodanang.vn/kinhte/202505/kinh-te-da-nang-chuyen-minh-manh-me-4006444/