Central Highlands province Lam Dong attracts $4.9 bln in new investments

Vietnam's Central Highlands province of Lam Dong on Sunday gave in-principle approvals, investment registration certificates and memoranda of understanding to 12 projects with total registered capital of VND125 trillion ($4.91 billion).

The projects were revealed at a ceremony to announce the provincial master plan for the 2021-2030 period, with a vision to 2050.

The investments are expected to go into infrastructure, tourism, agriculture and real estate. Major investors include Bac A Group, Phuong Trang Group, Deo Ca Group, and national mining group Vinacomin.

Also on the occasion, Lam Dong province announced a list of 227 projects that are open to investment, including 36 in transport; 11 in industry; 34 in culture, sports and tourism; 36 in healthcare, six in education and training; 20 in trade and services; 62 residential and urban area projects; 12 in agricultural development; three in environmental protection; and four in mineral exploitation.

Key projects include the Dankia-Suoi Vang national tourist area; Tan Phu-Bao Loc expressway; Bao Loc-Lien Khuong expressway; Nha Trang-Lien Khuong expressway; and the Lien Khuong Airport upgrade and expansion.

A bauxite and aluminum processing plant complex; Da Lat high-tech agricultural park; Lien Khuong Prenn urban area; Eastern Da Lat urban area; Western Da Lat urban area; Phu Binh Industrial Park; and dry port projects in Duc Trong district and Bao Loc town were also named.

Under the provincial master plan, Lam Dong province is aiming for regional GDP per capita of VND170 million ($6,680) by 2030.

The province will focus on completing transport routes and strengthening links with other provinces in the region. It will build a sustainable urban system; form tourism, service and industrial complexes, and develop high-quality tourism associated with preserving and promoting the cultural heritage values of ethnic groups, natural resources and regional links.

Notably, Lam Dong province is aiming to become a modern, green, smart, and livable centrally-run city by 2050.

At the event, Deputy Prime Minister Tran Luu Quang announced a decision to upgrade Lien Khuong Airport to an international one, the first of its kind in the Central Highlands region.

This will give an important boost to the development of the tourism industry in the Central Highlands in general and Lam Dong in particular, he said.

Since January 2017, Lien Khuong Airport has served more than 1,700 charter flights from Malaysia, Thailand, South Korea, and China operated by Air Asia and Korean Air, Thai Vietjet, and Vietjet Air. Currently, it welcomes six international flights per day.

Lien Khuong Airport will become one of 14 international airports out of the 30 airports in Vietnam by 2030 under a government plan.