Workers tend to flowers at the Da Lat Hasfarm Company in the Central Highlands Province of Lam Dong. The province has the potential to invest in hi-tech agriculture due to its climate, land and proximity to the southern economic region. — VNA/VNS Photo Phuong Vy

LAM DONG (Biz Hub) — The Central Highlands province of Lam Dong has the potential to attract more foreign investment in hi-tech agriculture due to its climate, land and proximity to the southern economic region.

In an interview granted to the Vietnam News Agency, deputy director of the provincial Department of Planning and Investment Phan Van Dung said the locality had the potential to develop its agro-forestry and farm produce processing industries.

The favourable weather enabled the province to grow tea and coffee as well as fruit and vegetables, he said.

He noted that the province had 106 foreign investment projects worth US$482 million, most of which focus on agriculture and farm produce, while the remainder are involved in trade and services and industry.

Projects combing agricultural production with the processing industry have increased the value of farm produce, and promoted local brand names in domestic and foreign markets.

Scores of businesses and farmers were expanding hi-tech agriculture production models to increase the value of farm produce, he said, adding that some foreign enterprises had helped the province to enhance its labour organisation and management.

However, he also noted that the ineffective operation of some businesses due to the domestic and global economic crises had resulted in the slow implementation of projects from 2011-15.

He added that the province would continue to improve the investment climate, accelerate administrative reform towards the one-stop-shop model, and support small and medium enterprises.

Authorities have pledged to implement effective socio-economic development programmes and provide an interest rate policy to support businesses in hi-tech agriculture and farm produce processing, as well as focusing on land use and rural modernisation.

The province also expected FDI in other fields such as tourism services and post-harvest preservation and processing, he added. — VNS