Economics

Da Nang on the brink of a new era

Translated by VAN GIANG • May 21, 2025 16:42

(QNO) - After 50 years of liberation and 28 years under central governance, Da Nang has risen as Central Vietnam’s leading city. Now, it must accelerate and innovate to confidently enter a new era alongside the nation.

From 1997 to 2015, Da Nang’s GRDP grew 10.5% annually, driven by innovative policies like land-for-infrastructure swaps and the "State and people together" initiative.

The 2024 Da Nang International Fireworks Festival captivated both domestic and international visitors.

Da Nang was twice honored by the World Tourism Awards (WTA) as Asia’s top destination, event, and festival city (2016, 2022). The Da Nang International Fireworks Festival became a signature attraction, drawing many domestic and international tourists annually.

By 2024, services and tourism accounted for over 71% of Da Nang’s economy, significantly boosting its socio-economic growth.

FPT Complex Da Nang, inaugurated in early 2025, plays a key role in the city’s tech industry, significantly contributing to exports and the local budget.

From a modest start, Da Nang has become one of Vietnam’s leading economies after nearly 30 years under central governance.

Between 2021- 2025, its economy grew 6.82%, with a scale 34 times larger than post-liberation years. Investment exceeded 175 trillion VND - 46 times more than in 1990 - 1996. Since 1995, the city has attracted 1,202 FDI projects worth 5.4 billion USD.