3:06:24 PM | 9/3/2015
Advantages in geographical location, cultural diversity and abundant natural resources endow rich potential and pluses on Dak Nong province to attract investment and develop the economy and society in a rapid and sustainable manner. Dak Nong promises to be an ideal investment environment for enterprises and investors.
Diverse investment advantages
Dak Nong lies in the Cambodia - Laos - Vietnam Development Triangle and has a favourable geographical position. It is situated on Ho Chi Minh Road running from the north to the south of Vietnam, and has two national border gates of Dak Per and Bu Prang with Cambodia. These are favourable conditions for the province to develop trade and services with other provinces and cities throughout Vietnam and countries in the region. Therefore, the province is calling investment capital for many projects to build supermarkets and wholesale markets and develop other services.
The abundance of natural resources is also considered a plus for the province to attract mining, agriculture and tourism investment projects. Dak Nong has a total area of over 650,000 ha of natural land, of which agricultural land accounts for over 90 percent. It has 11 soil types but basaltic soil accounts for 60.34 percent of the area, which is suitable for growing industrial crops like macadamia, coffee, pepper, cocoa, vegetables and fruit trees. The province encourages projects applying science and technology to develop agricultural production. Besides, it has a lot of favourable conditions to develop aquaculture. Nevertheless, its agriculture remains underdeveloped due to limitations in scientific and technological applications. So, it has zoned out high-tech agricultural areas and issued many programmes and policies on high-quality agricultural development.
Dak Nong has a variety of mineral ores, basalt stone quarries, and especially bauxite ores. Large reserves of minerals enable the province to develop mining industry, aluminium industry and supporting services for bauxite extraction and alumina refining. Besides, natural conditions endow many advantages on Dak Nong to develop processing industries, especially agricultural processing.
Specially, the province has many beautiful natural landscapes like virgin forests, waterfalls and natural water reservoirs. Villages of ethnic minorities with unique traditional cultures are the potential for tourism development. The province has a high demand for tourism projects to tap local potential.
According to the Department of Planning and Investment of Dak Nong, the province’s competitive advantages in land resources, climate and minerals are fairly abundant. These are major favourable conditions for investors when they carry out their projects in Dak Nong.
Reasonable preferential policies
In Dak Nong province, investors will receive the most support from local governments. The province will focus its supports through tax exemption or reduction, tax payment rescheduling, training support and branding support. It will also organise trade fairs for them to introduce its products and search for consumption markets. As lying in the Central Highlands, Dak Nong enjoys a lot of preferential policies from the central government, projects funded by non-governmental organisations (NGOs) and foreign aids for socioeconomic development.
The province also focuses its resources to upgrade its important infrastructure, introduces incentives for infrastructure construction projects, and deploys public-private partnership (PPP) to mobilise social capital for infrastructure development. Moreover, Dak Nong has initially invested in information technology infrastructure to facilitate investors to access information and shorten the time required to fulfil investment procedures. In addition, the province regularly organises investment promotion conferences and forums to learn about investor opinions and introduce suitable mechanisms to encourage investors.
Notably, the governments of three countries in the Cambodia - Laos - Vietnam Development Triangle - always show their interest in technical infrastructure construction, especially traffic development, to strengthen the connectivity of development centres and economic relations. Besides, the three governments also have infrastructure programs for regional socioeconomic development. All will shape an attractive investment environment and bring core values to investors in Dak Nong.