LÂM ĐỒNG ATTRACTS APPROXIMATELY $7 BILLION IN INVESTMENT

Industrial production, trade and tourism continued to post strong growth during the period.

Tân Đức Industrial Park in Lâm Đồng Province. — Photo baolamdong.vn

LÂM ĐỒNG — Lâm Đồng Province attracted 70 newly registered investment projects worth a combined VNĐ176.5 trillion (approximately US$7 billion) in the first 10 months of this year, up 18 projects year-on-year, according to the provincial People’s Committee.

Industrial production, trade and tourism continued to post strong growth during the period. However, slow disbursement of public investment funds remains a major challenge, prompting the province to step up efforts to address bottlenecks in the final months of the year.

Of the 70 newly approved projects, 10 were foreign direct investment (FDI) projects. Industrial parks attracted 21 projects, including four FDI projects with registered capital of VNĐ11 trillion.

Meanwhile, 57 projects outside industrial parks received adjustments to their investment policies or registration certificates, adding VNĐ22.8 trillion in investment capital. Most of these adjustments involved mining and renewable energy projects.

Industrial production maintained its upward momentum, with the processing and manufacturing sector expanding by 20.4 per cent. Most of the province’s key industrial products also recorded positive growth.

Retail sales of goods and consumer services exceeded VNĐ169 trillion, up 19.8 per cent year-on-year, while merchandise exports reached approximately $2.9 billion, an increase of nearly 5 per cent.

Tourism remained a major growth driver. Lâm Đồng welcomed more than 20 million visitors during the 10-month period, up over 20 per cent year-on-year. International arrivals reached 1.2 million, rising 15.3 per cent, while tourism revenue was estimated at more than VNĐ57.5 trillion.

Despite these positive results, public investment disbursement remained below expectations. As of October 27, the province had disbursed more than VNĐ11.5 trillion, equivalent to 54 per cent of its annual capital allocation. Disbursement of the 2026 budget reached 54.8 per cent of the provincial People’s Council’s target.

Key obstacles include delays in compensation, resettlement and land clearance, as well as lengthy investment procedures, project approvals and contractor selection.

Provincial authorities have identified accelerating public investment disbursement, supporting businesses and investment projects, boosting tourism and expanding export markets as key priorities for the final two months of this year, with the aim of meeting the province’s annual socio-economic development targets. — VNS

Source: VNS