Regarding the socio-economic situation in the first 6 months of the year, Mr. Tran Van Vu, Director of the Da Nang Statistics Office, said that the city's GRDP is estimated to increase by 5%, higher than the 3.48% of the same period in 2023. "5% is not a high growth rate but it is a positive and noteworthy result," Mr. Vu assessed.

The city's economic scale is estimated at over 72,303 billion VND. Nationwide, Da Nang's GRDP continues to maintain its 17th position out of 63 provinces and cities and leads the South Central Coast region.

According to the Director of the Da Nang Statistics Office, the city's economy has seen positive changes in the second quarter. The commercial and service sectors continue to be a bright spot, contributing to the city's overall economic growth.

The tourism sector continues to recover strongly, creating breakthrough growth for a number of service industries such as: accommodation, food and beverage, trade and transportation, entertainment, etc. Specifically, revenue from food and beverage and accommodation services reached nearly 13,000 billion VND, up 22.2%; revenue from retail sales of goods reached more than 37,000 billion VND, up 14.6%...

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Mr. Tran Van Vu, Director of Da Nang Statistics Office. Photo: DT

The total number of visitors served by accommodation establishments in the first 6 months of the year is estimated at 5.1 million, up 25.6% over the same period last year. Of which, international visitors reached 2 million, up 40.3%; domestic visitors reached 3.1 million, up 17.7%.

On the contrary, real estate business activities decreased sharply (-30.34%) compared to the same period in 2023.

The real estate market has yet to show signs of recovery, high transportation costs, low credit growth… are barriers that have prevented growth in the service sector, although positive, from reaching expectations.

Mr. Vu also said that although the economy has recorded positive signs in some areas, the number of ineffective enterprises, applying for temporary suspension and withdrawal from the market continues to increase. The whole city has 3,200 enterprises and establishments applying for temporary suspension of operations, an increase of 11.7%. Meanwhile, only 1,798 enterprises and representative offices were newly established, with a total registered capital of more than VND5,500 billion, a decrease of 12.5% ​​in the number of enterprises and a decrease of 36.9% in registered capital compared to the same period last year.

In the industrial sector, the inventory index of the processing and manufacturing industry increased by 33.2% over the same period last year. This is the highest inventory level since 2021. Groups with high inventory levels such as machinery and equipment, textiles, electrical equipment, etc.

According to him, Da Nang's economy is still facing many difficulties. That is, the number of tourists is increasing but the number of days staying is decreasing, the trend of tightening spending. Tourism businesses are facing difficulties in reinvestment capital and land rent. Although domestic airfares have shown signs of decreasing, they are still quite high compared to other countries, so people choose to travel to nearby destinations or travel abroad.

In addition, credit growth is low in the context of businesses reducing production, having no orders and therefore no need to borrow capital; the real estate market has difficulty accessing credit capital.

The implementation of infrastructure investment in industrial parks and industrial clusters is still slow and does not meet the demand for land funds and production premises for businesses...

The leaders of the General Statistics Office said that Da Nang needs to focus resources on exploiting new tourism products, contributing to increasing the competitiveness of the destination to attract tourists.

In addition, implement trade promotion activities; strictly control credit growth; develop plans and roadmaps to implement priority investment projects to create sustainable growth momentum; focus on disbursing public investment capital in 2024, identifying this as the top priority task.