Da Nang sees minus economic growth for first time in over 20 years
The central city of Da Nang saw its GRDP for the first half of the year contract by 3.61 percent from the same period in 2019, the first time since the city became a centrally-run locality in 1997.
Rong (Dragon) Bridge that spans the Han River in Da Nang city (Photo: VNA)
DaNang (VNA) – The central city of Da Nang saw its GRDP for the firsthalf of the year contract by 3.61 percent from the same period in 2019, thefirst time since the city became a centrally-run locality in 1997.
Dataof the city’s statistics office showed Da Nang’s GRDP in the reviewed period totaledover 51 trillion VND (2.19 billion USD at current exchange rate), down 917.6billion VND year on year, as a consequence of the impact of the COVID-19pandemic.
Assuch, the city was ranked 16th out of the country’s 63 localities in terms ofthe economy’s size, down one place from the 15th position during2016-2019.
DaNang is among 12 provinces and cities with minus growth in the first half ofthe year, and one of the five localities with the lowest growth rate in thecountry.
TranVan Vu, head of the city’s statistics office, noted some positive signs such asgood disbursement of public investment and foreign investment. The city hasalso successfully stopped the spread of the COVID-19 pandemic and implementedsocial security policies.
Accordingto him, at the direction of the municipal People’s Committee, the statisticsoffice, in coordination with relevant departments, sectors and researchinstitutes, has developed three economic development scenarios for the secondhalf of the year.
Inthe worst scenario, the city will see a minus growth for the entire 2020, whilethe best scenario predicts a growth of 2-3 percent, provided all sectors makeconcerted efforts.
Thestatistics official added that the restoration of business and productiondepends on the epidemic situation in countries which are big trade partners ofVietnam./.
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Rong (Dragon) Bridge that spans the Han River in Da Nang city (Photo: VNA) 
