Lam Dong creates breakthrough to call for investment

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

Tuyen Lam Lake, Da Lat, Lam Dong

Lam Dong is located in the Southern Central Highlands of Vietnam at an altitude of 300-1,500m above sea level. With this altitude, Lam Dong has an ideal temperature of 18-25 ^degrees Celsius and is classified as a temperate zone, especially favorable for growing 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 economic and political administrative center of the province, in the future it will become a green growth city, a heritage city; synchronous, modern, smart infrastructure adapting to climate change. The population of the whole province is over 1.3 million people with 43 ethnic groups living.

Lam Dong province borders Binh Thuan province to the South and Southeast, Khanh Hoa province - Ninh Thuan province to the East, Dak Lak - Dak Nong province to the North and Dong Nai province - Binh Phuoc province to the Southwest. Lam Dong is also located in the Southern key economic zone - a dynamic area with high economic growth rate, this is a stepping stone for Lam Dong to develop its strengths, unleashing potential that not every locality has.

The socio-economic situation achieved many positive results.

In the first 6 months of 2023, the Provincial People's Committee directed all levels, sectors and localities to effectively implement many solutions in all sectors and fields right from the beginning of the year, especially removing difficulties in budget collection, accelerating disbursement of public investment capital, urging the progress of the Tan Phu - Bao Loc and Bao Loc - Lien Khuong expressway projects; resolving difficulties and problems related to production, business, investment attraction, construction, land, minerals, real estate, etc. Thereby, the socio-economic development situation of the province in the first 6 months of 2023 continued to grow well and achieved some positive results.

The economy continued to grow by 5.07%; in which, the agricultural sector maintained a growth rate of 5.28%, playing a supporting role for the economy in the context of many difficulties; industrial production and construction, despite difficulties, still grew by 3.24%; the service, goods trading and consumption sectors continued to be vibrant, growing by 5.58%. Tourism activities continued to grow strongly, organizing many art events with international scale and quality, attracting a large number of tourists to Lam Dong (total number of visitors increased by 43.5%; international visitors increased by 773.1% over 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 completed as a basis for submission to the Prime Minister for approval in the third quarter of 2023. Implementing specialized planning such as land use planning, forestry planning, general planning, construction planning, etc.

A special working group was established with the Chairman of the Provincial People's Committee as the head to promptly direct sectors and localities to remove difficulties and obstacles, support production and business, and promote socio-economic development. Administrative reform and digital transformation were well implemented; monthly, the leaders of the Provincial People's Committee met with businesses and investors to promptly grasp information and resolve related difficulties and obstacles.

Dalat market roundabout

Investment destination of the "big guys"

Promoting policies to attract and facilitate businesses and investors to invest and implement projects locally is one of the policies that Lam Dong province is actively implementing. The Provincial People's Committee has directed sectors and levels to implement many solutions to remove difficulties and obstacles in the process of business operations and project implementation; speed up the promotion and attraction of non-budgetary investment projects in the province. Localities have proactively reviewed land funds and areas with the potential to attract investment in the province to propose projects or make plans (for areas without plans).

In the first 6 months of 2023, Lam Dong province issued investment policy decisions for 7 domestic capital projects, with a total registered capital of VND 6,865 billion. Currently, Lam Dong province has a total of 974 operating projects, with a total registered capital of about VND 144,200 billion. Of these, 603 projects have completed investment and come into operation.

In the past time, in parallel with the work of reviewing, urging, and removing difficulties in mechanisms and policies for investors in project implementation, Lam Dong province has continued to effectively shape the synchronous development of all fields, helping projects after completion to operate smoothly. Along with that, the locality has reviewed and inspected the implementation status of projects, and terminated projects that are behind schedule and not implemented according to the approved plan. Of which, 4 projects with a total registered capital of 350 billion VND have been revoked and terminated.

Lam Dong province has issued many decisions approving the list of projects calling for investment in the province in many different fields. According to Decision No. 184/QD-UBND dated January 27, 2022, the province has called for investment in 142 projects, including fields such as residential areas, urban areas, housing, industry, tourism, water supply and drainage, waste treatment and technical infrastructure works, trade, services, culture, sports, health, education, training, agriculture, etc.

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

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

Regarding infrastructure, Lam Dong will focus on investing in key transport projects such as the Dau Giay – Lien Khuong Expressway, National Highways 27, 55, 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 process.

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