Lam Dong promotes potential, opens doors to welcome investors

Located in the Southern key economic zone - a dynamic area with high economic growth rate and a market with great potential, Lam Dong has many advantages for socio-economic development, attracting international investment, including investors from Australia.

Lam Dong is a mountainous province in the South Central Highlands of Vietnam, with an area of nearly 10,000 km2 (ranked 7th in the country, including 10 districts and two cities), is the connecting point between the three regions of Southeast, Central Highlands, North Central and Central Coast.

Lam Dong province has a population of over 1.3 million people, of which about 798,280 are of working age (accounting for nearly 60% of the population), the trained workforce accounts for a high rate of over 70%; the average GRDP is about 3.7 billion USD, the average GRDP per capita is 2.8 thousand USD, the average GRDP growth rate is nearly 9%. In 2022, the province's provincial competitiveness index is ranked fairly good, ranking 17th in the country.

Over the past years, Lam Dong province has attracted 974 projects, with a total capital of VND 144,200 billion (equivalent to USD 6,324 million), including 98 foreign direct investment (FDI) projects from 19 countries and territories, with a total investment capital of about VND 12,570 billion (equivalent to USD 551 million), with an area of 2,234.8 hectares.

Promote strengths and potentials

Lam Dong province has a very important strategic position in terms of natural geography, geo-economics, politics, security, national defense and environmental protection with favorable natural conditions; rich, abundant, unique and diverse tourism resources to meet the development of sustainable and high-quality tourism; diverse ethnic culture, friendly and hospitable people. The economy is quite large compared to the Central Highlands, with large capital mobilization capacity.

As a highly efficient commodity agricultural economic zone, high-tech organic ecology, smart and circular agriculture, large scale associated with specialized areas especially vegetables, flowers, tea, coffee... The whole province has over 320,000 hectares of agricultural land, of which: 66,150 hectares of production meet high-tech criteria, 520 hectares apply smart technology, digital technology, 1,500 hectares are certified organic. Annual vegetable output reaches 2.8 million tons; flowers reach over 3.9 billion branches; tea reaches over 160 thousand tons; coffee reaches over 600 thousand tons...

Tourism development is a strength of the province, Lam Dong is one of 25 key tourist areas of the country, especially eco-tourism, sightseeing, resorts, conferences and seminars, tourism combined with high-tech agriculture, flower tourism, cultural tourism, adventure tourism...

Processing industry is identified as one of the important factors contributing to promoting the development of the agricultural sector; post-harvest preservation and processing centers have been established. The province currently has two operating industrial parks, Loc Son and Phu Hoi, with an area of 292 hectares, and a planned Phu Binh Industrial Park with an area of 246 hectares; 10 industrial clusters have been approved for detailed planning with a total planning area of 352 hectares; of which, six industrial clusters have been established. 86 projects have been attracted with a total registered investment capital of VND 4,990 billion and USD 106.13 million in the two industrial parks and 31 projects with a total registered investment capital of over VND 2,000 billion and nearly USD 21 million in industrial clusters with an occupancy rate of 80% in Loc Son Industrial Park, 100% in Phu Hoi, and 51.52% in industrial clusters.

Australia - Potential market of Lam Dong

Direct investment from Australia in Lam Dong province is not yet commensurate with the potential and strengths of Lam Dong province.

Regarding exports, in recent years, the main products exported to Australia are green coffee beans, flowers, and Alumin. In particular, Australia is a large import market for fresh cut flowers, among the four largest export markets of Lam Dong. This will be a very potential market for Lam Dong, especially in the context that the province is aiming to build Da Lat into a leading fresh flower production center in Southeast Asia.

Australia is also one of the 10 key international tourist markets of Lam Dong province. In 2022 and the first six months of 2023, the number of tourists from the Australian market to Lam Dong reached 6,062 people.

Da Lat - Lam Dong Station.

In order to promote cooperation and investment in the fields of agriculture and tourism; research the market, connect and promote the export of Lam Dong's key agricultural products (such as coffee, flowers, durian, processed agricultural products, etc.) to the Australian market, at the end of 2022, the delegation of Lam Dong Provincial People's Committee leaders visited, worked and promoted trade in Australia, thereby organizing a program to introduce Lam Dong agricultural products to Australian consumers at the foreign affairs headquarters of the Consulate General of Vietnam in Sydney, Australia. With the aim of promoting key products in Lam Dong, especially agricultural products (coffee, tea, cashew, durian, avocado, flowers, etc.), the event has attracted great attention from partners and investors. The program introduced more than 70 typical agricultural products of Lam Dong to Australian consumers and received many positive reviews from businesses and consumers. Some Australian businesses and investors have raised the issue with the province and businesses with products to introduce in researching the export of Lam Dong coffee to Australia. Australian businesses, investors and people have also directly tried agricultural products at the event and highly appreciated the quality of the products.

In the coming time, Lam Dong province will continue to connect with the Vietnamese Embassy in Australia, the Vietnamese Consulate General in Sydney, Australia and the Vietnam Trade Office in Australia. Lam Dong province's professional agencies and enterprises will continue to proactively connect with the Sydney and Melbourne city governments, and the Vietnam Business Association (VBAA) in Australia to strengthen and further promote exchanges and cooperation between the province's export enterprises and businesses and investors in Australia.

Lam Dong province wishes to call on Australian businesses to explore cooperation and trade opportunities with the province in the fields of agricultural production and processing, coffee, vegetables and flowers... and at the same time commits that the provincial government will create all conditions for Australian businesses to explore the investment environment, connect trade, and connect tourism activities with businesses in Lam Dong province.

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