Article 1: Investment attraction picture in Lam Dong

In 2024, Lam Dong's investment promotion work will face many challenges, although the province has made many efforts to improve the investment environment. According to the report, although in 2024, the whole province only attracted 3 new investment projects with a total registered capital of 95 billion VND; but 37 projects had their investment policies adjusted, increasing 6,350.9 billion VND in investment capital, showing confidence and signs of investors returning. However, up to 10 projects were revoked and terminated with a total registered capital of 634.86 billion VND and a land area of 48.72 hectares, raising issues that need to be considered regarding the effectiveness of project implementation and the investment environment...

The traffic system at the gateway to Da Lat is invested and upgraded to suit urban and tourism development, promoting socio-economic growth.

Up to now, the whole province has 935 projects in operation with a total registered capital of about 149,567.9 billion VND, of which 678 projects have been completed and put into operation, contributing to the socio-economic development of the province through job creation, increasing budget revenue and providing products and services to the market. This is an impressive number, demonstrating the potential and attractiveness of Lam Dong to investors.

The foreign direct investment (FDI) sector also plays an important role in the province's investment capital structure. Lam Dong currently has 97 FDI projects in operation, with a total registered capital of VND 13,702 billion, equivalent to about USD 581.7 million. These projects use a significant land fund, about 2,245.9 hectares. Notably, the rate of completed and operational FDI projects is very high, up to 91 projects, accounting for about 93.8% of the total number of registered projects, with an estimated total realized capital of about VND 10,116 billion. This shows the ability of foreign investors to effectively implement projects in Lam Dong, as well as the attractiveness of the investment environment for foreign capital flows.

Despite achieving certain results, Lam Dong's investment attraction picture in 2024 still has limitations. The number of newly attracted projects is still modest, and more worryingly, the situation of newly established enterprises has decreased in both quantity and registered capital compared to the same period last year. Specifically, there were only 1,205 newly established enterprises with registered capital of VND 6,789.5 billion, down 8.85% and 30% respectively.

More notably, the number of businesses registering to temporarily suspend operations has increased sharply, with 867 businesses, up 34.42% over the same period. The number of dissolved businesses has also increased, with 258 businesses, up 4.88%. These figures reflect the difficulties that the business community is facing in the current economic context, which may be related to market fluctuations, increased operating costs, or challenges in accessing capital and maintaining business operations...

However, there is a bright spot in the development of the private economy: 368 enterprises resumed operations in 2024, an increase of 23.08% over the same period. This shows the efforts and resilience of a number of enterprises as they seek to overcome difficulties to restart production and business activities.

Up to now, the total number of enterprises with legal entities operating in Lam Dong province is 14,740, with a total registered capital of VND 179,127 billion. The collective economic sector also contributes to the diversity of the province's economy, with 578 cooperatives with a total registered charter capital of over VND 1,200 billion and attracting 76,000 members, along with 5 cooperative unions.

Lam Dong province also reviewed more than 200 projects that were behind schedule, to comprehensively evaluate these projects and classify the projects. According to Mr. Ton Thien San - Director of the Department of Finance, the viewpoint of Lam Dong province's leaders is to focus on accompanying businesses for sustainable development. For projects where investors are enthusiastic, have real capacity and have objective reasons leading to slow implementation, support will also be provided so that investors can continue to implement the projects in accordance with legal procedures.

As for projects where investors have poor capacity or have unsatisfactory reasons, or are not determined to invest, the Provincial People's Committee will resolutely withdraw them, to create room for further investment calls from other businesses. In addition, in 2025, the province will continue to actively call for investment, creating the most favorable conditions for investors interested in investing in Lam Dong, with the determination to achieve the growth rate as assigned by the Government in 2005, which is 9-10%...

(TO BE CONTINUED)

Source: https://baolamdong.vn/kinh-te/202504/lam-dong-no-luc-vuot-kho-thu-hut-dau-tu-b154caa/