Central city’s economy sputters

Thursday, Jul 04, 2019 16:25

Tourists take photos along the Han River in Da Nang City. — VNA/VNS Photo Le Lam

The central city of Da Nang’s gross regional domestic product growth slowed in the first half of the year to 6.21 per cent, compared to the 7.24 per cent in the same period of last year.

This information was released at the conference to review the city’s development on Wednesday.

Tourism sector remained the coastal city’s strength.

It welcomed 4.3 million visitors in the first six months, up 15.1 per cent year-on-year. The sector raked in nearly VND15 trillion (US$644.3 million) in the period, equivalent to 54.7 per cent of the yearly plan.

However, Da Nang’s index of industrial production (IIP) only increased 4 per cent in the period, while investment for social welfare rose 2.1 per cent, below expectations of 7.2 per cent and 6.3 per cent, respectively.

Vice chairman of the municipal People’s Committee Ho Ky Minh attributed slower economic growth to difficulties in the production of major firms and declines in production values of industrial sectors.

Slow pace was seen in some constructions projects, particularly in water supply and sewage systems, wastewater and garbage treatment, Minh said.

At the conference, local authorities asked agencies to accelerate efforts to solve remaining tasks in the second half of the year, ensure collection for the State budget and prevent losses, and keep close watch on the implementation of projects. — VNS

Comments (0)