Da Nang GDP Estimated to Expand 10.2pct YoY in H1/2012

Da Nang’s gross domestic product (GDP) is estimated to have expanded 10.2 percent on year in the first half of this year driven by tourism booming.

Tourism sector had the highest increase of 39 percent with total turns of visits of 1.327 million, up 9 percent and revenue of VND3 trillion.

It was followed by export and import sector with 17.6 percent increase in revenue to VND15.4 trillion ($768.5 million) and retail sales and service sector rising 16.2 percent in revenue to VND24.925 trillion

However, the city’s industrial, investment and development activities had many difficulties as businesses could not access to capital, the city said, adding that as many as 211 enterprises had to close down or suspend operation in the first 6 months of this year, up 155 percent on year.

Earlier, Hanoi and Ho Chi Minh city reported 7.6 percent and 8.1 percent GDP growth, respectively.

http://stoxplus.com/News/83415/1/188/da-nang-gdp-estimated-to-expand-10-2-yoy-in-h1-2012.stox

 

Category: Economy