During the last 25 years Da Nang has made considerable socio-economic progress

The talk ‘Da Nang’s 25-year Journey: Achievements and Prospects’ held on Tuesday witnessed many delegates highly appreciate Da Nang’s outstanding socio-economic development over the past time and make constructive proposals for the city’s development in the coming time as well, especially in tourism, urban planning, and making socio-cultural development commensurate with economic growth, reported Da Nang Today.

State President Nguyen Xuan Phuc (center) and Da Nang leaders co-chair discussions at the talk “Da Nang’s 25-year Journey: Achievements and Prospects’, December 28, 2021. Photo: LAM PHUONG

Making big strides

Assoc. Prof. Dr. Tran Dinh Thien, former Director of the Viet Nam Institute of Economics and a member of the Prime Minister's Economic Advisory Group for the 2016 - 2021 term affirmed that, over the past 25 years, as a centrally governed city and a regional development hub, Da Nang has grown strongly, making a “true life change”.

Assoc. Prof. Dr. Tran Dinh Thien cited, as compared to 1997 when Da Nang was recognised as a centrally governed city, in 2019, the city’s GRDP increased up by eight times, GRDP per capita up 8.3 times, the state budget revenue up twenty-three times and tourist numbers up fifty-five times.

Assoc. Prof. Dr. Tran Dinh Thien, former Director of the Viet Nam Institute of Economics and a member of the Prime Minister's Economic Advisory Group for the 2016 - 2021 term delivers a speech. Photo: NGOC PHU

The above-mentioned positive results have been attributed to the city’s firm stance on catching up with the trend of developing open economy and deepening international economic integration, along with its potential natural advantages, all of which together formed a new resonant power.

The proud rise of the city over the past 25 years is attributed to the decisive contribution of the business force, especially the pioneering of large enterprises with their strategic investment projects in Da Nang. Sungroup, Vingroup, Vietjet, BRG and Muong Thanh and other big investors are ‘big names’ in the business community.

Structuring tourism industry for recovery

Meanwhile, Assoc.Prof.Dr. Pham Trung Luong, former Deputy Director of the Institute of Tourism Development Research, highly hailed Da Nang for its miraculous development steps with the average annual growth rate of tourists in the 1997 – 2019 period reaching 25.8%, higher than the whole country’s average of 18.6%.

In 1997, the city received 370,000 visitors, including 111,000 international ones, whilst revenue generated from tourism was only VND529 million. In 2019, the corresponding figures were 8,692,400 (tourist numbers), 3,523,000 (foreign ones) and VND30,973 billion (in revenues).

Also in 2019, tourism's contribution to the city’s GRDP was 31.4% (equivalent to VND 30,973 billion).

Amid the complicated developments of COVID-19, Assoc.Prof.Dr. Pham Trung Luong urged the city to restructure its tourism industry for recovery and development strides which are commensurate with the city's position under Vi Nam's tourism development strategy by 2030.

To read the full report click here.

Join our 3 x a week Vietnam News, Travel and Expat information newsletter and keep up to date. https://aseannow.com/newsletter.php