Services and tourism are gradually becoming one of the main economic sectors of Da Nang. (Photo: NDO)

According to the Da Nang Party Committee, during the 2020-2025 period, Da Nang and former Quang Nam Province have achieved many notable results. The economy recovered quickly with the average GRDP growth rate of the two localities reaching 5.8% per year.

Former Da Nang City focused on developing infrastructure, gradually forming high-tech zones, synchronous and modern industrial parks and clusters. Former Quang Nam Province concentrated on developing the Chu Lai Open Economic Zone, which is gradually becoming a driving-force economic zone of the region and the whole country, and building the Chu Lai-Truong Hai automobile complex on a regional scale.

On average, the two localities recorded an annual increase of about 37% in the number of visitors served by accommodation establishments; the total state budget revenue was estimated at 260,562 billion VND; the medium-term capital plan for 2020-2025 period was 90,290.369 billion VND; the added value of the industrial sector was 5.9% per year.

In addition, social fields made much progress; Party building and the political system gained many results; national defence and security were maintained; the great national unity was strongly promoted; and people’s trust in the Party was increasingly consolidated. Notably, the city has received strong attention from the central level through the issuance of special mechanisms and policies, creating conditions for the city to promote its potential, advantages, and unique features; expand development space; and create new momentum for rapid and sustainable growth in the future.

On June 13, 2025, Prime Minister Pham Minh Chinh signed Decision No. 1142/QD-TTg on establishing the Da Nang Free Trade Zone. This is the first free trade zone in Viet Nam, and Da Nang chosen by the central level to take the lead in its implementation. The free trade zone covers about 1,881 hectares and has many functional subdivisions, including production, logistics, trade and services, digital industry, information technology, and innovation. Da Nang inherits this special policy and is studying the possibility of expanding the free trade zone in the south.

In addition, on June 27, 2025, the National Assembly officially adopted a resolution on establishing the international financial centres in Ho Chi Minh City and Da Nang. In Da Nang, the international financial centre will be developed with a focus on green finance, financial technology application, digital services, and sandbox mechanisms for digital assets and money, which are among the city’s most competitive advantages.

At present, Da Nang also has a strong economic foundation inherited from the “economic miracles” of former Quang Nam Province and Da Nang City. The city’s industrial growth potential has increased greatly while clean land funds for industry have been expanded. At the same time, tourism potential is being tapped with diverse products.

Encouragingly, in the just over two months before and after the new city was established, Da Nang launched a series of “mega projects” such as the Lang Van Tourism and Resort Complex; the Cultural Park with high-end entertainment, trade and service facilities; and the Tuy Loan-Hoa Lien Expressway was opened to traffic. Meanwhile, the shared infrastructure section of Lien Chieu Port is under construction; and problems relating to land that were identified in decisions of the Government Inspectorate have been tackled more quickly.

Most recently, the project on investment in construction and trade of infrastructure of functional zone No. 5 was launched, marking the “activation” of the Da Nang Free Trade Zone.

“Sun Group is honoured to be the pioneer enterprise in implementing the first item of the Da Nang Free Trade Zone. This project has a special meaning in realising the goal of making Da Nang a pioneering centre for dynamic economic institutions, a place to pilot new mechanisms and policies to help the country integrate,” Nguyen Van Binh, Chairman of Sun Group in the central region, shared.

To make the best use of its advantages and turn potential into reality, Da Nang has identified three main tasks and solutions for breakthrough development in the coming time: effective implementation of special mechanisms and policies; removing difficulties and obstacles, promoting private economic development, expanding international cooperation, mobilising investment resources, and developing synchronous and modern infrastructure. It will also develop science, technology, innovation, and digital transformation in association with high-quality human resources. At the same time, Da Nang will be built into a modern city with a rich identity, humane people, and high living standards, especially improving the lives of people in mountainous areas.

Standing Deputy Secretary of the Da Nang Party Committee Nguyen Dinh Vinh said that Da Nang is now facing both intertwined great opportunities and challenges. However, with the attention and support of the Politburo, National Assembly, and Government of Viet Nam, and decisive actions of the whole political system, Da Nang is confident to enter a new stage of development, creating clear changes in all fields, contributing to building the city into a rapid and sustainable development hub, worthy of being a growth pillar of Viet Nam.