Da Nang strives to become Vietnam’s major socio-economic centre

Prime Minister Nguyen Xuan Phuc has approved a master plan on socio-economic development in Da Nang until 2020 with a vision to 2030 under which the central city will become one of the major socio-economic hubs in Vietnam and Southeast Asia.

da nang strives to become vietnam’s major socio-economic centre hinh 0
A corner of Da Nang city. Da Nang is striving to become a major socio-economic centre of Vietnam (Source: Internet)

Under the plan, the city has set a target of becoming a centre for start-ups, innovation, tourism, trade, finance, logistics, and information technology; and one of the major centres for culture, sports, education and training and health in the country.

It is working towards average annual economic growth of 12% from 2021-2030, with the services sector accounting for 67-68% of the economic structure, industry and construction 31-32%, and agriculture 1%.

The city’s population is projected to hit 2.5 million, while employment rate is estimated to increase by 5-5.5% a year with the proportion of skilled workers exceeding 70% by 2030. By 2030, 100% of solid waste, and 80% of waste water will be treated, and 100% of residents in rural areas will have access to clean water. Forest coverage is expected to reach 45%.

The master plan puts forward orientations for the development of services, industry and construction, and agriculture.

In terms of services, Da Nang will develop tourism services in line with resort properties with a focus on the Son Tra tourist site, Da Nang Bay, and entertainment projects; and develop seaports and airports in parallel with logistics services.

The city will maintain the harmonious development of trade,finance and banking activities, and increase the quality of services and products to serve tourism.

In terms of trade, the city will strive for a growth of over 8% in 2020 and 8.4-11% in the 2021-2030 period. The sector is expected to account for 12.9% of the city’s gross regional domestic product (GRDP) in 2020, and 15.4% by 2030.

Da Nang will focus on industrial development planning to avoid conflicts between industrial and tourism development targets, while developing environmentally-friendly industrial projects and eco-industrial zones.

It will put forward incentives to attract more investors, especially those in the world’s Top 500, and step up the application of information technology in production and business.

In the agricultural sector, Da Nang will form hi-tech agricultural zones, manage and protect forest areas, and develop offshore fishing comprehensively and sustainably. It will speed up the completion of its fisheries logistics services and infrastructure and fulfil the target of turning it into an aquaculture centre in the central key economic region.

During 2021-2030, the sector’s growth is expected to reach 2.2%, accounting for 1% of the city’s GRDP by 2030.