Lam Dong discusses ways to attract FDI

The Central Highlands Province of Lam Dong organised a seminar to discuss ways to achieve its economic potential and attract investment in Da Lat City on on Tuesday.

It was held on the sidelines of the seventh Da Lat Festival (December 23-27).

It was attended by local scientists and foreign experts, relevant authorities and executives from 50 local agricultural firms.

Deputy Chairman of the province People’s Committee, Nguyen Van Yen, said Lam Dong had advantages in areas like agricultural technology and high-quality tourism.

It has the largest areas under vegetables, flowers and tea in the country, he said.

High-tech agriculture is practised on nearly 51,800ha, or 20 per cent of all the province’s farmlands, he said.

The province farms cashew, mulberry, cocoa, pepper, fruits, and cold-water fish (sturgeon and salmon).

Lam Dong received 5.9 million visitors this year, including over 400,000 foreigners, an increase of 8.7 per cent year-on-year.

But Yen said the province was yet to do justice to its potential and strengths, and the seminar hoped to find ways to mitigate that.

Tran Dinh Thien, director of the Viet Nam Institute of Economics, said the province should develop its image through the media to attract more foreign investment.

He praised its achievements in developing transportation, saying that for instance Lien Khuong had become an international airport that helped increase exports.

Dang Kim Son, former head of the Institute of Policy and Strategy for Agricultural and Rural Development, said Lam Dong imported 90 per cent of all the seeds it needs, a high-risk strategy because of possible market volatility.

The province should produce its own high-quality seeds and upgrade its electricity, water, drainage, transportation and weather forecast systems, he said.

Robert Hejzak, an investment expert from the International Finance Corporation, said FDI often helped improve labour productivity and would help Viet Nam become competitive in the ASEAN Free Trade Area.

The province should focus on investment promotion and create favourable conditions for potential investors, he added.

Source VNA