3:35:11 PM | 24/11/2009
Occupying a total area of 6,514.5sq.m, Dak Nong province is a gateway to southern parts of Vietnam’s Central Highlands region. The province boasts great development potential of agriculture, hydroelectricity, minerals and tourism. Tthis new land is making efforts to make a breakthrough and look forwards a prosperous future.
However, Dak Nong province is facing a wide range of difficulties in comparison with its neighbouring Dak Lak province that is famous for prestigious Buon Me Thuot City, Buon Don destination and coffee products. Dak Nong province is home to six poor districts even Gia Nghia Town.
Dak Nong province, which has been set up for six years, is still facing a lot of challenges in economic development, particularly investment attraction. Its CPI was the lowest nationwide between 2004 and 2008 and stood at 41.01 last year.
We had an interview with Mr. Nguyen Cuong, Director of VCCI Branches in Central and Central Highlands Region. Cuong said that Dak Nong is encountering with some major difficulties of weak infrastructure, low-quality labour force, and outdated economic integration; thus, pioneer investors may become a major driving force for the province to renovate itself to make a breakthrough.
What do enterprises think about? Whether they are afraid of when investing in Dak Nong?
Despite challenges, a large number of investors including MDF Long Viet, Dai Viet Alcohol, and N&S Company have projects in Dak Nong with a total registered capital of VND250 billion (US$14 million) and FDI of $27.75 billion.
These enterprises have bridged companies in Dak Nong province with firms in Ho Chi Minh City and nationwide, creating a driving motive for further development.
How does Dak Nong province renovate itself?
Provincial Party Committee Secretary Tran Quoc Huy said all provincial central party committee and government should join hands to create sustainable values to boost investment with priority given to administrative reform, and people are the key to success. In the economic integration, people either can work half-heartedly or think illogically; thus it is essential that the local government and enterprises should join hands to create a new image of Dak Nong and attract investment.
Dak Nong province has boosted administrative reform for three years, including the implementation of a project for administrative reform and building up one-stop policy. The province has set up a steering committee for enhancing capacity and expanding investment cooperation ties in order to help provincial party committee and government to accelerate administrative reform.
Provincial leaders made great impression at the central highlands investment promotion conference on September 5 by a commitment of “Dak Nong-an attractive investment destination”. Being a newly-founded province with a high economic growth rate, Dak Nong will create necessary foundations to make a breakthrough. Its GDP grew 15.4 % in the 2006-2008 period, which is much higher than the country’s average GDP growth rate of 7.8 % in the period. Its state budget were valued at VND514 billion (US$28.764 million) and its trade value reached $182 million in 2008.
When the US$700-million Alumin-Nhan Co project becomes operational, it will create a strong motivation to boost up provincial economic development.