Central Vietnam province moves to unblock 359 stalled projects worth $9.35 bln

Authorities in Lam Dong met with investors on Monday to address long-standing obstacles affecting hundreds of projects across the central Vietnam province.

According to the provincial Department of Finance, Lam Dong currently has nearly 3,000 valid investment projects. Of these, 359 projects with total registered capital of VND245.13 trillion ($9.35 billion) are facing bottlenecks. Of that amount, VND154.23 trillion ($5.88 billion) has already been disbursed.

At the meeting, representatives of dairy giant TH Group said the company has invested in Lam Dong since 2012 but encountered prolonged challenges. Some land areas allocated to the firm were later encroached upon by local residents, leading to disputes and project delays.

TH Group urged authorities to review land origins and usage status, while proposing solutions that balance the legitimate interests of residents and investors. The company also called for unified administrative practices following provincial restructuring and merger, warning that inconsistent interpretations among agencies could undermine investor confidence.

Dak Nong, Binh Thuan and Lam Dong provinces were merged last July to form the new Lam Dong which borders Dak Lak, Dong Nai, Khanh Hoa, Ho Chi Minh City, Cambodia, and the East Sea.

Vu Quang Bao, chairman of BB Group, cautioned that renewable energy investors could face severe financial strain if bottlenecks are not resolved by the second quarter.

According to Bao, some projects have already generated electricity and fed power into the grid but have yet to receive payment due to regulatory complications. He proposed separating projects overlapping with mineral planning zones and coordinating with the Ministry of Agriculture and Environment to prevent prolonged procedural conflicts.

BB Group, established in 2017, is a multi-sector group operating in renewable energy, real estate, tourism & resort, mining, construction, and consumer goods.

Other businesses highlighted rising land rental rates amid challenging market conditions, significantly increasing operating costs. Several largely completed projects have not been granted extensions on land-use timelines, exposing investors to penalties, financial pressure, and legal risks.

Investors broadly called for more flexible and practical support mechanisms to restore stability and confidence.

Chairman of the Lam Dong People’s Committee, Ho Van Muoi, acknowledged that nearly 400 projects face obstacles related to land issues, planning inconsistencies, and provisions under the Investment Law, constraining socio-economic growth.

Lam Dong has established six task forces led by vice chairpersons to review and resolve issues affecting the 359 problematic projects. So far, 22 projects have had their obstacles addressed, he noted.

Muoi emphasized that nearly VND150 trillion ($5.72 billion) has already been injected into these stalled projects, and unlocking this capital could significantly boost economic growth as the province targets double-digit GRDP expansion.

“No matter how many new projects we attract, it cannot compare to fully resolving existing bottlenecks,” Muoi said, pledging to prioritize simpler cases first before tackling more complex ones and to work alongside businesses to bring projects into operation.