Lam Dong eyes more high-quality foreign investment
A conference was held by the People’s Committee of the Central Highlands province of Lam Dong on December 26, discussing ways to draw in more “high-quality” foreign investment in the locality.
Lam Dong (VNA) – A conference was held bythe People’s Committee of the Central Highlands province of Lam Dong onDecember 26, discussing ways to draw in more “high-quality” foreign investmentin the locality.
The conference on investment, trade and tourism promotiontook place within the framework of the 7th Da Lat Flower Festival that isunderway in Da Lat city.
The event gathered representatives from about 50 domesticand foreign companies in the province alongside a number of experts andscholars from ministries and state agencies.
Foreign investors have poured about 528 million USD into103 projects in Lam Dong while the province has attracted approximately 115trillion VND (5.06 billion USD) in 820 domestic projects, said Vice Chairman ofthe province’s People’s Committee Nguyen Van Yen, noting most of the projectsare run by small- and medium-sized enterprises (SMEs).
Yen voiced his concern over ineffectiveness of many foreigninvestment projects while many foreign investors have taken advantages of localinvestment promotion policies to occupy land for illegal purposes, liketransfer of land use rights without permit.
To solve the issues, Lam Dong should give priority to bigfirms with good financial capability and sustainable investment, instead ofSMEs, said Director of the Vietnam Institute of Economics Tran Dinh Thien. SMEshave limited funding so most of them want to earn profit at any cost, leavingsevere impacts on local environment and economics, he explained.
Delegates to the conference suggested that the provinceshould also further accelerate public administrative reforms and put moreefforts to unleash its potential in tourism, hi-tech agriculture and biotechnology.-VNA
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Illustrative image. (Photo: VNA)
