Da Nang sees negative economic growth

SGGP
Mr. Nguyen Nho Trung, Chairman of the People’s Council of Da Nang City, said that the Covid-19 pandemic and continual natural disasters this year have made the city post a negative growth of 9.77 percent for the first time and budget revenue merely achieve 70 percent at the 16th meeting of the municipal People’s Council held on December 7.
Mr. Ho Ky Minh, Vice Chairman of the People’s Committee of Da Nang City, proposed three scenarios for economic growth in 2021. Accordingly, in the first scenario, from the beginning of next year, the city’s economy will recover rapidly, with the growth rate of gross regional domestic product (GRDP) reaching 8.5-9 percent. In the second one, in the first half of next year, the city’s economy will recover slowly and start to speed up from the third quarter. GRDP growth rate will reach above 5-6 percent. In the last scenario, the city’s economy will still recover sluggishly and only accelerate in the last quarter of next year. GRDP growth rate will touch 3-3.5 percent.

On the same day, at the opening session of the 11th meeting of the People’s Council of Thua Thien – Hue Province, Mr. Phan Ngoc Tho, Chairman of the People’s Committee of Thua Thien – Hue Province, said that the pandemic, storms, and floods have seriously affected socio-economic performance tasks of the province, causing a loss of VND13 trillion. The highlight of this year is budget revenue, which is estimated at more than VND8.45 trillion, an increase of 11.2 percent compared to the estimate and 0.7 percent compared to the same period last year. Total social investment capital reached VND24.45 trillion, up 7.9 percent.

At the 18th meeting, the People’s Council of Tra Vinh Province voted to add two more vice chairman of the provincial People’s Committee for the term from 2016 to 2021. In the end, Mr. Le Thanh Binh, Secretary of the Party Committee of Duyen Hai Town, and Mr. Nguyen Quynh Thien, Provincial Commissioner, Head of the Provincial Economic Zone Authority, were chosen.

At the 17th meeting of the People’s Council of Dong Thap Province, Mr. Phan Van Thang, Chairman of provincial People’s Council, said that despite many difficulties in the past years, the efforts of authorities of all levels and industries have helped five-year economic growth rate of the province to reach an estimate of 6.44 percent. Of which, the economic growth rate of this year is estimated at 4.5 percent, ranking at third place out of 13 provinces in the Mekong Delta.

By Staff writers – Translated by Gia Bao

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