PM: Central Highlands’s untapped potential awaits investors

The PM made the comment at the region’s fourth investment promotion conference in Buon Ma Thuot in Dak Lak Province on March 11.

The biggest-ever investment promotion event in the region brought together nearly 1,000 people, including economists, Vietnamese and foreign entrepreneurs and the representatives of international organisations and diplomatic agencies.

The Government leader noted that he considered the Central Highlands, consisting of Dak Lak, Kon Tum, Gia Lai, Dak Nong and Lam Dong Provinces, as a springboard for the development of the central region as well as the southeast and southwest of Vietnam.

The region is home to nearly 2 million hectares of basalt, accounting for 60% of this soil’s total area in Vietnam, which is favourable for coffee and pepper farming. Although the country is a world-leading coffee and pepper exporter, most of the exported products are unprocessed with low added value, PM Phuc analysed, suggesting investors to focus on these sectors to reap higher benefits.

Regarding potentials for tourism development, he said the Central Highlands highlighted the competitive advantages of the Central Highland, with many beautiful natural landscapes sites, mild climate, which is highly favored by travelers in and out of the country.

The Prime Minister also underlined the Government and the region’s determination to have the Central Highlands epics recognised as part of the world's intangible cultural heritage, asking the region to conserve local culture, especially the gong culture.

PM Phuc talking to delegates at the conference (source: vietnamnet)

At the conference, PM Phuc asked the Central Highlands provinces to form large-scale organic agricultural areas. He recommended that they promote industrial development by modernising agriculture, boosting processing activities and expanding the value chain of products from industrial trees.

The Central Highlands also needs to enhance regional connectivity to expand the market for its products and foster tourism, he added.

He reiterated the Government’s resolve to protect forests, which is regarded as the core of security in the region as well as the entire country.

“We should be aware that protecting forests is meant to protect the living environment, water resources, the livelihoods of people and the heritage space of our ancestors. All activities to destroy forests and exploit forest products illegally are crimes,” he said.

The leader praised investors in the region for creating a new momentum for local development, asking them to do as they say when investing there.

Presenting credit agreement to investors (source: PANO)

At the event, head of the Steering Committee for the Central Highlands To Lam, who is also Minister of Public Security, pledged to support and closely cooperate with investors.

Aside from the Government’s incentives, the provinces also have their own support policies, such as in site clearance, infrastructure building, and making environmental impact assessment reports. They will streamline administrative procedures and ensure transparency to help investors save time and unofficial expenses, he added.

At the conference, some projects received credit agreements worth over VND29 trillion (US$1.27 billion) from banks. Investment certificates and agreements were handed over to projects with a combined capital of VND80 trillion (US$3.5 billion)./.

( VNF/NDO )