Lam Dong province creates breakthroughs to attract investment.

Báo Quốc Tế•11/10/2023

With its existing potential and advantages, Lam Dong is accelerating administrative reforms to create breakthroughs in improving the investment and business environment; accompanying and resolving difficulties and obstacles of investors to attract more quality capital, creating momentum for the province's growth.

Tuyen Lam Lake, Da Lat, Lam Dong

Lam Dong province is located in the Southern Central Highlands of Vietnam, at an altitude ranging from 300 to 1,500 meters above sea level. This altitude gives Lam Dong an ideal temperature range of 18-25 ^° C, placing it in the temperate zone, making it particularly favorable for the cultivation of vegetables, flowers, tea, and coffee. With an area of over 9,781 ^km² , Lam Dong has 12 administrative units, including 10 districts and 2 cities. Da Lat city is the province's administrative, economic, and political center, and in the future will become a green growth city and heritage city; its infrastructure is synchronized, modern, and smart, adapting to climate change. The province has a population of over 1.3 million people, comprising 43 ethnic groups.

Lam Dong province is bordered to the south and southeast by Binh Thuan province, to the east by Khanh Hoa and Ninh Thuan provinces, to the north by Dak Lak and Dak Nong provinces, and to the southwest by Dong Nai and Binh Phuoc provinces. Lam Dong is also located within the Southern Key Economic Zone – a dynamic area with high economic growth rates. This serves as a springboard for Lam Dong to develop its strengths and unlock its potential, a capability not found in every locality.

The socio-economic situation has achieved many positive results.

In the first six months of 2023, the Provincial People's Committee directed all levels, sectors, and localities to effectively implement many solutions across various fields from the beginning of the year, especially addressing difficulties in budget revenue collection, accelerating the disbursement of public investment capital, urging progress on the Tan Phu - Bao Loc and Bao Loc - Lien Khuong sections of the expressway project; resolving difficulties and obstacles related to production, business, investment attraction, construction, land, minerals, and real estate... As a result, the socio-economic development of the province in the first six months of 2023 continued to grow significantly and achieved several positive results.

The economy continued to grow by 5.07%; in particular, the agricultural sector maintained a growth rate of 5.28%, playing a pivotal role in supporting the economy amidst numerous difficulties; industrial production and construction, despite facing challenges, still grew by 3.24%; the service, trade, and consumer sectors continued to thrive, growing by 5.58%. Tourism continued to grow strongly, with many art events organized on an international scale and quality, attracting a large number of tourists to Lam Dong (total overnight visitors increased by 43.5%; international visitors increased by 773.1% compared to the same period).

The work of preparing the Provincial Planning Project for the period 2021-2030, with a vision to 2050, has achieved many positive results; it has been approved by the Central Appraisal Council and is being finalized as a basis for submission to the Prime Minister for approval in the third quarter of 2023. Implementation of specialized plans such as land use planning, forestry planning, general planning, construction planning, etc., is also underway.

A special task force, headed by the Chairman of the Provincial People's Committee, was established to promptly direct relevant departments and localities in resolving difficulties and obstacles, supporting production and business, and promoting socio-economic development. Administrative reform and digital transformation were given due attention and implemented effectively; on a monthly basis, the leaders of the Provincial People's Committee met with businesses and investors to promptly gather information and address related difficulties and obstacles.

Da Lat Market roundabout

A top investment destination for major corporations.

Promoting policies to attract and facilitate businesses and investors to invest in and implement projects in the locality is one of the key initiatives that Lam Dong province is actively pursuing. The Provincial People's Committee has directed relevant departments and levels to implement various solutions to remove difficulties and obstacles in the operation and implementation of projects by businesses; and to accelerate the promotion and attraction of non-budgetary investment projects in the province. Local authorities have proactively reviewed land resources and areas with the potential to attract investment in the province to propose projects or develop planning (for areas without existing plans).

In the first six months of 2023, Lam Dong province granted investment approval for 7 domestic projects, with a total registered capital of VND 6,865 billion. Currently, Lam Dong province has a total of 974 active projects, with a total registered capital of approximately VND 144,200 billion. Of these, 603 projects have completed investment and commenced operations.

Over the past period, alongside reviewing, urging, and resolving difficulties related to mechanisms and policies for investors in project implementation, Lam Dong province has also continued to effectively shape the synchronous development of various sectors, helping projects to operate smoothly after completion. In addition, the locality has reviewed and inspected the implementation status of projects, terminating the operations of projects that are behind schedule or not implemented according to the approved plan. Specifically, the investment activities of 4 projects have been revoked and terminated, with a total registered capital of 350 billion VND.

Lam Dong province has issued numerous decisions approving the list of investment projects in the province across various sectors. According to Decision No. 184/QD-UBND dated January 27, 2022, the province has called for investment in 142 projects, encompassing areas such as housing, urban areas, industrial zones, tourism, water supply and drainage, waste treatment and technical infrastructure, commerce, services, culture, sports, healthcare, education, training, and agriculture.

In 2024, Lam Dong province will focus on promoting investment in the fields of tourism, services, industry and handicrafts, agriculture, infrastructure, housing, and urban areas. In the tourism sector, the province will accelerate the development of modern and integrated infrastructure to support tourism development, especially in the Tuyen Lam Lake National Tourist Area and other areas with tourism potential within the province. In addition, Lam Dong will also attract investment in the construction of large, modern entertainment complexes, high-end restaurants, and hotels.

In the service sector, the province will focus on attracting investment in banking, commercial finance, logistics services, postal services, telecommunications, information technology and electronics, and tourism projects. At the same time, the province will also create favorable conditions for the construction of high-end shopping malls, large, modern service centers, and international convention centers in Da Lat city.

Regarding infrastructure, Lam Dong will focus on investing in key transportation projects such as the Dau Giay – Lien Khuong expressway, national highways 27, 55, and 27C, and restoring the Phan Rang – Thap Cham – Da Lat railway. At the same time, the province will also seek major domestic investment partners such as Vingroup, Sungroup, Sovico, Hung Thinh, Him Lam, Bitexco, and Becamex to jointly promote the local economic development.

Source