Aspiration elevates Dak Lak to new heights

Dak Lak province is set to hold an investment promotion conference on June 26-27, which local authorities say will contribute to luring in more business and help improve the province’s socioeconomic landscape.

The conference is expected to be attended by as many as 1,000 people, including investors, economic experts, representatives from the government and ministries, and local authorities. A series of side events will also be organised.

Notable events include the groundbreaking ceremony for several important projects, the Vietnam Private Economic Forum, a workshop on industrial cluster and logistics development, a workshop on digital transformation and business development, a workshop on high-tech agricultural development, and many other key events.

Through the conference, Dak Lak People’s Committee will announce a list of almost 220 projects with a total estimated investment of approximately $30.35 billion. These include 47 renewable energy ventures; 35 industrial, seaport, and logistics infrastructure schemes; 45 projects in agriculture, processing industries, and trade and services; and undertakings in urban development, tourism, healthcare, education, and IT.

Planning prospects

Dak Lak authorities recognise that this conference is a crucial turning point in bringing the province to a new level of development, especially through the revised planning following the merger of Dak Lak and Phu Yen provinces, which will redefine a new development vision.

Cao Thi Hoa An, Standing Deputy Secretary of Dak Lak Party Committee, and Chairwoman of Dak Lak People’s Council, stated that the goal of adjusting the provincial planning is to redefine the viewpoints and development orientations; and to set forth key tasks for socioeconomic development in the period up to 2030 and beyond

According to An, by 2030, Dak Lak will become a centre for green economic development, logistics services, healthcare, education, tourism, culture-sports, and sci-tech; as well as a distinctive and attractive destination for domestic and international tourists.

“By 2050, Dak Lak strives to become a moderately developed province in the country, with a modern economy, a rational structure, and green growth,” An stated. She reaffirmed that the plan will help Dak Lak assert its position as a key development hub and important connecting point of the Central Highlands sub-region, playing a strategic role in closely linking this region with the South-central Coast region and national economic corridors.

The plan also positions Dak Lak as an important centre for agricultural production, processing, and logistics services in the central sub-region. It will strongly develop processing industries, renewable energy, trade, logistics, and tourism, gradually forming an economic structure oriented towards modern industry and services. Agriculture will also develop in an ecological direction, applying high technology, linking value chains, and adapting to climate change. Forest resources, land, water, and biodiversity will also be managed and protected.

Luong Nguyen Minh Triet, Secretary of Dak Lak Party Committee, stated that the plan will focus on developing an urban system based on a central-satellite urban model in which Buon Ma Thuot will be the core urban centre of the Central Highlands sub-region, and the Tuy Hoa area will be the eastern coastal centre.

“Dak Lak province has set out three breakthroughs for development: focusing on the development of sci-tech and innovation; promoting administrative reform; and developing synchronous and modern digital infrastructure,” Triet stated.

According to Triet, Dak Lak is focusing on developing workers to meet the requirements for socioeconomic development. It also focuses on perfecting institutions and operational mechanisms to ensure the two-tiered local government apparatus operates effectively.

Earlier in the year, Party General Secretary and State President To Lam requested Dak Lak to fundamentally change its thinking, shifting from managing the area to creating a strategic development space.

He stressed that the province needs to establish its role as a hub connecting the Central Highlands with the South-Central Coast, the border region, and national economic corridors. All major plans and projects must be placed within the overall regional and national development, overcoming fragmented and localised thinking.

“Dak Lak needs to reorganise its development space, with strategic infrastructure as the pillar. Transportation, logistics, energy, and digital infrastructure must become tools for organising economic flows, value chains, and national defence and security; forming new growth poles and development belts,” Party General Secretary and State President Lam stressed.

New growth hub

The province’s important location, combined with its development vision and aspiration for further growth, has attracted many large investors, most recently T&T Group, which has proposed investing in energy and real estate projects in the province.

In particular, in the western part of the province, the group has proposed implementing the East Buon Ma Thuot Mixed-Use Urban Area in Tan Lap, Buon Ma Thuot, and Ea Kao wards. According to the proposal, the initiative costs $1.7 billion and is divided into three component projects; the implementation period is from 2027 to 2034.

In the eastern part of the province, T&T Group proposed to study the investment in the Eastern Urban Area along the National Highway 1 bypass in Tuy Hoa and Binh Kien wards. It covers over 300 hectares, with a total estimated investment of $808 million, and implementation is set for before 2035.

In the energy sector, T&T also expressed its desire to invest in wind and solar power projects in the province. It aims to invest in and put into operation a total capacity of approximately 5GW before the end of the decade. By 2035, the province aims to increase the total investment capacity to approximately 15GW to effectively exploit the potential and advantages of the locality, contributing to promoting economic growth and ensuring energy security.

Regarding creating an investment environment, Party Secretary Triet emphasised that Dak Lak creates the conditions for capable and reputable investors to explore and implement projects that are consistent with the local planning and development orientation. The province expects large-scale projects in the energy and real estate sectors to contribute to effectively exploiting existing potential and advantages, creating momentum for economic growth, and improving the quality of life.

He affirmed that he will directly monitor and regularly urge the relevant authorities to promptly resolve difficulties for investors, ensuring that projects achieve the fastest and highest efficiency in the area.

Dak Lak province has planned 125 energy ventures, with a total capacity of over 14,000MW. Of these, 91 renewable energy projects are planned before 2030, and 34 are set for the 2031-2035 period. The locality has only approved 15 projects, of which wind power accounts for the largest proportion with 12.

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