Da Nang (VNA) - The central city of Da Nang will press ahead with the research and forecasting of the world’s political situation and new trends in global economic transformation to serve its development policy making over the next five years.

This is one of the major orientations announced at a meeting on the city's economic diplomacy jointly held by the municipal People’s Committee and the Ministry of Foreign Affairs on March 12.

Vice Chairman of the municipal People’s Committee Ho Ky Minh said Da Nang will put forth long-term plans, orientations, and key tasks for economic diplomacy between 2021 and 2025 in order to realise the city’s socio-economic development plan by 2030.

It will also optimise the support of ministries and centrally-run agencies, use existing resources and advantages, and pay more attention to multilateral diplomacy to step up economic integration and exchange, and international trade in line with its development orientations, targets, and demand, while effectively utilising new-generation free trade agreements.

The city will also revamp methods of economic diplomacy and work to raise the efficiency of investment, trade, and tourism promotion activities in the new circumstances.

Da Nang will make efforts to improve the international integration capacity of local agencies, individuals, and businesses, and set up links with overseas Vietnamese, experts, enterprises, and foreign partners to spur the city's socio-economic development.

The city attracted 530 FDI projects worth over 1.04 billion USD over the last five years, six ODA projects valued at 5.93 trillion VND (256.36 million USD), and 351 programmes, projects, and non-governmental aid, with total funding of 598 billion VND.

It also established friendship and cooperation relations with 45 localities in 20 countries and territories, and joined international networks such as CityNet, Asia Pacific City Summit, and ASEAN Smart City Network./.