The Central Highlands province of Dak Nong is seeking local and foreign investments in many sectors like high-tech agriculture, mining, renewable energy, and tourism, and will offer the most favourable investment terms and cooperate with investors, its leader has said.

Ho Van Muoi, its People’s Committee chairman, said the province has identified three main sectors to develop its economy, namely industry, high-tech agriculture and tourism.

Besides, with its rich mineral resources and great potential for solar energy, it wants to connect with domestic and foreign investors in those sectors, he said.

Viet Nam's bauxite reserves rank among the top three in the world, and Dak Nong accounts for 60 per cent of the country’s reserves, he said.

The province gets a lot of sunshine, with heat radiation estimated to be equivalent to Ninh Thuan and Binh Thuan provinces, and has a large water surface area which too offers great solar power potential.

It has 650,000ha of fertile lands and a mild climate suitable for agriculture, especially industrial crops and fruit trees.

It also has great tourism potential, thanks to its beautiful landscapes and rich ethnic culture, including the Dak Nong Geopark, designated as a UNESCO geopark, and the Ta Dung National Park on a combined area of 25,000ha and considered the ‘Ha Long Bay of South-Central Viet Nam.’

But despite all this potential, foreign investment remains modest, and there are only seven projects, Muoi said.

The province has regularly participated in or organised programmes and seminars to introduce its potential and advantages and solicit investment, he said.

“The province is always ready to create all conditions to support investors.”

Projects waiting for investors

Deputy Prime Minister Pham Binh Minh earlier this month signed a decision to promulgate a national list of projects soliciting foreign investment in 2021-25, with the province having five of them.

They include the US$715 million Chon Thanh (Binh Phuoc) - Dak Nong railway, the $43 million grade II logistics centre (Dak R’lap), a $740 million wind power plant project (Tuy Duc), a $520 million solar power project (Krong No) and a $20 million plant for producing renewable energy equipment.

The province itself has a list of nearly 100 projects in the period, 40 in commerce, tourism and urban infrastructure, 20 in agriculture and rural development, and 19 in manufacturing and industrial infrastructure.

Located at the south-western gateway of the Central Highlands, Dak Nong is a trade hub straddling the region and the southern key economic region.

It is located at an average altitude of 600-800m above sea level and has a tropical monsoon highland climate with distinct seasons.

It has a diverse and rich terrain comprising high mountains and plateaus and valleys between them. — VNS