Lam Dong Province: New Appearance, New Expectation

Lam Dong Province has been maximizing all existing potentials and advantages to improve the investment and business environment and attract capital for socio-economic development.
Lam Dong Province: New Appearance, New Expectations

Lam Dong has a strategic location in the Central Highlands region and owns many advantages in terms of large area, good natural conditions with mild weather all year round and temperatures ranging from 18-25°C across its 9,781.20 square kilometers. The province is renowned for its many beautiful scenic spots, idyllic natural landscapes and preservation of valuable intangible cultures such as the Central Highlands Gong Space, Nguyen Dynasty Woodblock Prints, Langbiang Biosphere Reserve and traditional activities of ethnic minorities. The economic and social hub of the province is the "City of Thousand Flowers", Da Lat.

Located in the key economic region of Southern Vietnam - an energetic area with a high economic growth rate and large potential market, Lam Dong Province has many potentials and advantages to develop its socio-economic conditions.

5 strategic breakthroughs

To realize the goal of rapid, comprehensive and sustainable development, making Lam Dong one of the broadly developed provinces in the country with a vision toward 2050, when the province will meet standards to become a modern, green, smart and livable central-affiliated city by 2045, the province has outlined 5 breakthrough developments:

Firstly, invest in building an integrated and modern infrastructure system connected to effective exploitation and use of land funds and social resources, strengthening linkages with provinces in the Central Highlands, Southeast Mekong Delta, Northern Central Coast and Central Coast regions.

Secondly, administrative reform, improving competitiveness and attracting large-scale investment projects from all economic sectors create a turning point for a structural economic shift towards modernization.

Thirdly, reasonably reorganizing the socio-economic space; functional zoning; planning, construction, management and sustainable development of an urban system connected to new-style rural development with improved models.

Fourthly, preserving and promoting values of historical-cultural and natural heritages; environmental protection; conservation of forest lands and water sources, especially source areas of river basins; proactively preventing natural disasters and effectively responding to climate change impacts.

Fifthly, training and developing a human resource matching structural economic shifts; meeting demands of green economic development, circular economy, digital economy, digital transformation and urban economies, thereby promoting rapid and sustainable socio-economic progress in the Industry Revolution 4.0.

Regarding the development space, Lam Dong province will organize an economic model including 3 inter-district economic sub-regions, 5 economic corridors and 2 growth poles. Accordingly, Lam Dong has 2 main driving regions: Da Lat City and surrounding areas; and Bao Loc City and surrounding areas. The province will complete the master plan and structure of the two driving regions; plan and build economic corridors connecting the driving regions, especially the East-West corridor along Dau Giay - Lien Khuong expressway, Da Lat, Nha Trang connected to National Road 20, expanding National Road 20.

To create a new outlook, the Lam Dong Provincial People's Committee has just issued Plan No. 8358 "Implementing rearrangement of district-level and commune-level administrative units in the province in the 2023-2025 period". Accordingly, at the district level, Lam Dong will merge the entire natural area and population of 3 districts consisting of Da Huoai, Da Teh and Cat Tien into 1 district, named Da Huoai District. At the same time, it will merge the entire natural area and population of Lac Duong rural district into Da Lat city (urban district) to expand the urban space of Da Lat. In addition, it will adjust the administrative boundaries of 5 communes including Loc An, Loc Tan, Loc Nam, Loc Thanh and Tan Lac of Bao Lam district into Bao Loc city to expand the urban space of Bao Loc.

The goal set by Lam Dong is that rearrangement must be reasonable and suitable to the reality and situation of the locality; ensure the perfection of institutions on administrative units, streamlined organization apparatus and political system with effective and efficient operations; contribute to mobilizing all resources to promote socio-economic development, improve people's living standards in the province, ensure national defense and security; maintain political security and social order and safety.

Specifically, Da Lat City in recent times has actively implemented infrastructure investment in the urban transport system to improve infrastructure quality, better serving the increasingly higher travel needs of residents and tourists.

The city's goal for the 2023-2026 period is to upgrade and expand Tran Le, Hoang Van Thu, Phu Dong Thien Vuong and Tran Quoc Toan roads with a total investment of over VND 400 billion. In addition to road projects, the Da Lat People's Committee is also developing plans to install traffic signals, upgrade and renovate 10 major traffic intersections with a total investment of over VND 119 billion implemented in 2023 to reasonably organize traffic flow, effectively avoid conflicts and congestion in residential areas and crowded vehicle areas during peak times.

The efforts to upgrade, beautify, expand and improve the transport system in the city aim to build a civilized, friendly city meeting socio-economic development needs in both, promoting tourism attraction, bringing Da Lat closer to the image of a smart, friendly modern city.

Increasing investment attraction

Actively promoting investment attraction policies and creating favorable conditions for businesses and investors to invest and implement projects in the locality 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 business operations and project implementation; accelerate investment promotion and attract extra-budget investment projects in the province. Localities have proactively reviewed land funds, and areas with investment attraction potential in the province to propose projects or develop master plans (for areas without plans).

At the same time, alongside the work of reviewing, urging, and removing difficulties related to mechanisms and policies for investors in project implementation, Lam Dong province has also continued to effectively shape comprehensive development in various fields, facilitating projects post-completion. In addition, localities conduct reviews and inspections of project implementation status, terminating slow or non-compliant projects. Four projects with a total registered capital of VND 350 billion have had their investment termination.

Lam Dong has issued many decisions approving the list of investment attraction projects in various fields across the province. According to Decision No. 184/QĐ-UBND dated January 27, 2022, the province has called for investment in 142 projects, including housing, urban areas, industrial projects, tourism, water supply, waste treatment, technical infrastructure, commerce, services, culture, sports, healthcare, education and training, agriculture etc.

In 2024, Lam Dong province will focus on promoting investment in tourism, services, industry-handicrafts, agriculture, infrastructure, housing and urban areas. For tourism, the province will develop a modern and integrated infrastructure to serve tourism development, especially at the Tuyen Lam National Tourism Site and other potential tourism areas in the province. In addition, Lam Dong will also attract investment to build large modern recreational parks, high-end restaurants and hotels.

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

Regarding infrastructure, Lam Dong will concentrate investment on key transport projects such as the Dau Giay - Lien Khuong Expressway, National Roads 27, 55, and 27C and restore Phan Rang - Thap Cham - Da Lat railway. The province will also seek large domestic partners such as Vingroup, Sungroup, Sovico, Hung Thinh, Him Lam, Bitexco, and Becamex to jointly promote local economic development.

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