Da Nang posts impressive Q1 growth

The central city of Da Nang posted gross regional domestic product (GRDP) growth of 7.12 per cent year-on-year in the first quarter of 2023, according to the city’s Statistics Office.

It topped key economic localities in the central region and ranked second among Vietnam’s five centrally-run cities.

The scale of its economy hit over VND30.7 trillion ($1.28 billion) during the period, a VND3.3 trillion ($138 million) increase since the first quarter of 2022.

The Statistics Office attributed Da Nang’s growth to the strong recovery of its tourism sector. Accommodation and catering services earned revenue of VND5.2 trillion ($217 million), a year-on-year rise of over 73 per cent.