Trade, services remain bright spot of Da Nang’s economic growth
The gross regional domestic product (GRDP) of Da Nang city in the first half of 2023 was estimated to increase by 3.74% year on year, according to the municipal Statistics Office.
People fly kites on a beach in Da Nang city. (Photo: VNA)
Da Nang (VNA) 𝓀- The gross regional domestic product (GRDP) of Da Nang city in the first half of 2023 was estimated to increase by 3.74% year on year, according to the municipalStatistics Office.
In term of growth rate, Da Nang ranked third out offive centrally-run cities and 46th out of 63 provinces and cities nationwide. Meanwhile, in terms of GRDP scale, the city ranked fourth out offive centrally-run cities and 17th in the country. Director of the Statistics Office Tran Van Vu said the city's economic scale in the past six months was estimated at more than 64.78 trillion VND (2.74 billion USD), up more than 5.31 trillion VNDcompared to the same period in 2022. In the reviewed period, the agro-forestry-fishery sector contributed 2.15% to the city's GRDP, while the industry and construction sector made up 18.75% and the service sector accounted for69.19%. The trade and service sector continued to be a bright spotwith an increase of 6.15% over the same period last year, making a positivecontribution to the city's overall economic growth. Among them, sectors withhigh growth were administrative activities and supporting services (up 62.2%);services for individuals and community (up 38%); accommodation and food services (up 32.8%). By June 20, the city's total state budget revenue reached 9.68 trillion VND, down 25.3% over the same period in2022, while its total preliminary budget expenditure reached 13.12 trillion VND, up 7.5% yearon year. Theimplementation of tax exemption and reduction policies to support people andbusinesses to restore production and business and new policies issued in 2023have reduced the city's revenue in the first months of 2023, Vu said. Da Nang’s economic growth will continueto face many difficulties and has not yet been able to achieve breakthroughs but it is likely to improve in the second half of the year, he predicted./.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
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Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
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The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
People fly kites on a beach in Da Nang city. (Photo: VNA) 
