Lam Dong with Efforts to Improve Investment Environment

Le Thanh Hai, chairman of Ho Chi Minh City People's Committee, said since the city and Lam Dong province had promote their comprehensive socio-economic co-operation, the province's attraction of investment from enterprises in Ho Chi Minh City had progressed. This shows that the province's mechanisms and policies had attracted much attention from investors. Since 2003, Lam Dong has attracted 254 projects in tourism, industry, hydro-electric power, agriculture and social infrastructure. Of the figure, 233 projects have been licensed by the People's Committee of Lam Dong province and owners are developing their projects, valued at VND 4,272 billion, 53 projects are under construction and 39 others have been operational. These projects have boosted the province's socio-economic infrastructure development, generating jobs and incomes for many local people and contributing to the local budget.

However, compared with the province's potential, the number of attracted projects remains modest. Nguyen Xuan Kien, deputy director of the Lam Dong Department of Planning and Investment, said that most projects had a small scale and used simple technology and few workers. Also, they mainly concentrated in urban areas. As a result, the projects had not produced enough effects on the development of rural areas yet. The number of projects attracted or operating remains low. There are many reasons, but mainly due to difficulties in site clearance compensation, infrastructure development and a lacklustre co-operation between local agencies in finding solutions to these difficulties.

 

Huynh Duc Hoa, chairman of the Lam Dong People's Committee, said that as a poor province with constraint capital resources, Lam Dong province had considered its top priority to attract investment capital from enterprises in other provinces and cities to create a breakthrough development of the province in the coming time. Accordingly, the province will mobilise all resources to implement major economic programmes and works, including infrastructure development, road building, water supply and drainage and electricity system development, as well as the tourist site, hi-tech park building. To that end, apart from offering incentives, Lam Dong province will boost the settlement of difficulties in site clearance, land fund planning and investment encouragement and promotion. The province will strive to mobilise VND 23,000 billion in the 2006-2010 period, up by 2.5 folds against the previous period. Of the figure, capital from the people and enterprises will account for between 55 and 60 per cent.

Concretely, local agencies and localities should consider their regular tasks to attract investment, helping investors and enterprises overcome their difficulties. The province will establish a centre for land fund planning to help project developers in site clearance. Also, it will promote contacts and working sessions with enterprises and investors to promote their mutual understanding. The province will continue to take advantage of co-operation programmes between it and Ho Chi Minh City to encourage and create the most favourable conditions for investors. Regarding the issue, Le Thanh Hai said that Ho Chi Minh City and Lam Dong should promote their co-operation in issuing priority policies and capital, so as to exploit fully their own advantages and potential.

 

At the meeting, some enterprises raised their questions about site clearance and infrastructure development for projects.

On the occasion, the Lam Dong People's Committee granted licences to ten investors, including the Tri Viet Joint stock Company with its project on building the Tri Viet eco-tourist village, the Phong Phu Textile Company with the Phan Chu Trinh Trade Centre in Da Lat city, the Haco Construction Joint stock Company with its project on building the 'World Wonder' resort, the Ha Anh Company with the World Wonder Flower Park, the T&D Company with teh An Vien resort, the August 19 Company with a project on researching and upgrading palaces, the Lac Hong Company with a project on building a resort, the Binh Son Garment, Electricity and Electronic Company, the Nhon Phuoc Company with a project on building the Cam Ly electric power plant, and the Du Hai Company with a project on planting ornamental trees and producing seedlings.