The conference on the publication of the annual economic report of Da Nang in 2022 and the growth scenarios for the next phase: a comprehensive overview of the economic development of Da Nang in 2022

With the theme "Da Nang's Economy in 2022 and Growth Scenarios for the Next Phase," the 2022 annual report, conducted by the University of Economics, University of Da Nang, was announced at the conference held on the morning of June 13. The conference was attended by over 80 delegates including leaders and representatives from government agencies, departments, policy planning institutions, educational institutions, research institutes, scientists, and researchers.

Considering the global and Vietnamese economic contexts, the report focuses on analyzing and evaluating the economic situation of Da Nang in 2022, one of the five centrally governed cities, identified as a national-level center and a leading driver of socio-economic development in the Central Key Economic Region. The core contents of this report concentrate on assessing the economic structural transformation, resources and production efficiency, budget revenue and expenditure, evaluating the scale and structure of enterprises, labor and employment situation, investment activities, exports, tourism, and other important aspects of Da Nang's economy, providing diverse and in-depth perspectives, especially the recovery process after the pandemic. Using various analytical tools, the report provides a comprehensive view of the economic development of Da Nang in 2022. Based on that, the report formulates growth scenarios for the city's economy in the next phase, aiming to provide scientific-based suggestions and strategic guidance for policy decisions and economic development of the city. These scenarios are built on in-depth analysis of the potential, challenges, and development trends of Da Nang, ensuring sustainability and breakthroughs in the future.

Delegates attending the conference

The structure of the report includes Section A: Global and Vietnamese Economic Context in 2022, Section B: Da Nang's Economy in 2022, and Section C: Economic Growth Prospects of Da Nang in 2023 and Policy Recommendations.

Assoc.Prof.Dr. Vo Thi Thuy Anh - Vice Rector of the university gave the opening speech

During the conference's opening speech, Associate Professor Dr. Vo Thi Thuy Anh, Vice Rector in charge of the university, highlighted that the 2022 annual report with the theme "Da Nang's Economy in 2022 and Growth Scenarios for the Next Phase" is an opportunity to bridge the University of Economics - University of Da Nang with relevant stakeholders in a spirit of transparency, objectivity, collaborative construction, reflecting the practical needs and aspirations of our community for a dynamic, innovative, and determined Da Nang.

Conference executive board

Analyzing "Prospects for Vietnam's Economy and Drivers for Economic Recovery," speaker Nguyen Quang Thuan, Chairman cum CEO of FiinGroup, presented assessments at the conference: Vietnam's economy in 2023 faces numerous challenges from both external and internal factors, with inherent risks. FDI is decreasing or stagnating. Exports are declining, and consumer demand is weak. Additionally, businesses experience low revenue growth and declining profits. Access to capital is difficult in the context of low credit growth, limited corporate bond channels, and increasing non-performing loans. This will make it difficult for Vietnam to achieve its 6.5% growth target, and FiinRatings forecasts that this situation will extend into the first half of 2024 before recovering with high growth rates. The long-term development momentum can still be maintained if the key export markets do not experience a recession, macroeconomic balance is ensured, the banking sector remains stable, post-COVID recovery occurs in many sectors, and the effectiveness of support policies is realized. Based on this, the speaker concludes that to implement the three pillars of Da Nang's economic development (tourism, high technology, logistics), the focus should be on quality (with long-term impact) rather than the quantity and scale of investment projects.

Delegates presented their presentations at the Conference

Assessing the tourism industry of Da Nang city at the presentation, Dr. Cao Tri Dung - Representative of the author group of University of Economics, University of Da Nang has analyzed the current situation of tourism development in Da Nang and recommended policies for tourism development in Da Nang. According to the presentation report, in 2020-2021, Da Nang's tourism industry was negatively affected by Covid-19, with a growth rate of -27.54%. In 2022, the growth rate of the tourism industry's value added (VA) in Da Nang was 67.57%. To assess the post-COVID-19 recovery level, the comparison between the industry's VA in 2022 and 2019 shows a decrease of -12.3%. Therefore, in 2022, the tourism industry in Da Nang experienced relatively high growth but lacked sustainability, still affected by the aftermath of COVID-19. In terms of net revenue contribution, the current contribution of the industry is not high. The contribution to Da Nang's tourism revenue does not correspond to the potential of this sector as a "spearhead" industry in the city's socio-economic development strategy according to Resolution 43-NQ/TW of the Government. Based on this, the speaker recommends tourism development policies for Da Nang, such as promoting sustainable growth and implementing effective demand stimulation and supply control, developing an efficient human resource strategy, and improving investment attraction policies.

The delegates discussed and proposed many economic development policies for the city. Danang

Developing the economic growth scenario of Da Nang city for the next period, Assoc.Prof.Dr. Truong Hong Trinh presented three scenarios at the presentation: Scenario 1 "Slow growth and recovery": The scenario builds on the average growth rate of capital services and labor services in the period of 2015 -2020; Scenario 2 “Fast growth and recovery”: The scenario builds on the average growth rate of capital services and labor services in the period 2010-2020; Scenario 3 “Expected growth and recovery”: The adjusted scenario is based on the contribution of capital services and labor services, and the master plan for development of sectors in Da Nang city.

Delegates exchanged ideas and suggestions at the Conference

Also at the conference, the delegates highly appreciated the expertise and quality of the report; especially the careful and meticulous preparation of the research team. However, the report needs to provide a group of more specific, up-to-date and topical solutions.

Delegates take souvenir photos

The Annual Report 2022, titled "Da Nang Economy in 2022 and Growth Scenarios for the Next Phase," is a scientific product compiled by the research team of the University of Economics - University of  Da Nang. With over 48 years of construction and development, being a reputable higher education and research institution nationwide, the publication of this report is an important milestone that clearly defines the mission and responsibility of a university grounded in a beautiful, young, and revolutionary coastal city. This is particularly significant as Da Nang is becoming a leading economic, commercial, and tourism center in Vietnam. This report also serves as an opportunity to bridge the University of Economics - University of  Da Nang and relevant stakeholders in a spirit of transparency, objectivity, and collaborative construction, reflecting the real needs and aspirations of our community for a dynamic, innovative, and determined Da Nang. The report is the result of the dedicated and diligent work of the author team, as well as the contributions of economic advisors.

Video of the Annual Report Conference: Da Nang Economy in 2022 and Growth Scenarios for the Next Phase.