Dak Lak: Investment falls in first nine months

Buon Ma Thuot city in Dak Lak province (Source:Internet)

The Central Highlands province of Dak Lak saw a noticeable fall in investments during the first nine months of the year, reeling in just 2.1 trillion VND (93.4 million USD) or only 75 percent of last year’s figure.

Chief among the 26 newly-registered projects are dairy cattle farms worth 1.2 trillion VND (54 million USD) run by Duc Long Gia Lai Group in Ea Kar district.

According to the provincial People’s Committee, the contraction was due largely to inadequate attention of authorities at communal and district levels to invite investment.

Poor planning work and a lack of information on local development plans, coupled with slow land clearance have discouraged potential investors.

To resolve the problem, the People’s Committee requested local authorities publicise project portfolios waiting for investments more widely and speed up site clearance efforts.

It also urged more convenient investment certificate granting procedures in accordance with regulations and transparency standards and asked relevant provincial agencies to provide support to investors in need.-VNA