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Socio-Economic Development in Lam Dong Province - Part 2 Print
Thursday, 21 February 2013 12:06

VIETReconomic_development_in_Lam_Dong_3ADE - 3. Investment

a) Social development investment

In the period of 2006-2010, total social investment capital was 36 trillion VND. There has been a change in the investment structure coming from the State budget; investment in agro- forestry was 28-30%, industry-construction 17-20%, and services and infrastructure 53-55%.

 

b) Investment for the development of technical infra- structure and social infrastructure

In five years, the province expended 5 trillion VND from the budget to invest in technical and social infra- structure, asphalting 500km of roads, building a 350m bridge, building and upgrading irrigation works to im prove irrigation for 7,000ha of agricultural land; building and upgrading more than 2,000 classrooms and 900 sick- beds; cooperating with Khanh Hoa province to build Highway 723 connecting Da Lat to Nha Trang; and build- ing a vocational training college with a capacity of 300 trainees at each course.

 

The province, in addition, upgraded Lien Khuong Airport with a runway 3,400m long able to receive medium-range aircraft such as the A320; completed Dai Ninh Hydropower Plant of capacity of 300MW, adding to available power; and built the Lam Dong – Binh Thuan Road.

 

Healthcare–education: A university has been newly built, another general hospital with 300 sick-beds, and a sanatorium for those needing mental improvement have also been built. The General Department of Tourism has approved the establishing of the Da Lat Tourism College that will enroll 150 students a year.

 

The social infrastructure has also reaped the benefits of investment by many sources. As a result, the medical examination and treatment requirements are now met. Improvement has been made in meeting the cultural and spiritual requirements. Now 100% of the communes have electricity, roads connecting to the communes, el- ementary schools, medical stations, telephone lines, and more than 75% of the households have available clean water.

 

Agro-forestry

Agriculture maintains growth and contributes to Lam Dong Province’s economic development and stability. Agricultural production gradually develops towards depth. Hi-tech agriculture is also progressing and bring- ing the associated inherent benefits. According to the industry’s GDP structure, by 2010 agriculture would account for 48%.

 

Industry – construction

Lam Dong industry is mainly preliminary treatment of export agricultural products and construction materials, and is generally not influenced much by the financial crisis. Over the past five years, many hydropower plants have been finished and put into operation contributing to the development of industry.

 

Those projected investments by non-budget capital will make a breakthrough for the construction industry, but the influence of the financial crisis and the unreal ca- pacity of the investors have held back this development of this industry. Over the past five years, thanks to the government’s demand stimulation policy, the construc- tion industry has developed impressively by investing more of the budget, along with other sources, in those works.

 

According to the branch’s GDP structure, by 2010 industry-construction would make up 20%. The average increasing rate of industry-construction in the five-year plan (2006-2010) was 20%.

economic_development_in_Lam_Dong_4

Services

Those traditional service industries such as trade, transportation, postal-telecommunication, banking, and insurance have developed close to the same pace as have those same functional areas for the country as a whole. The Da Lat service industry, especially restaurant-hotel service, has quickly developed over the past years thanks to new emphasis on encouraging more tourists to visit Da Lat. The added value of services increased 19% annually in the period of 2006-2010, and services can take credit for 31% of the GDP.

 

c) Calling for domestic and overseas investment

- Domestic investment: There have been 599 projects li- censed or arranged for investment sites since 2006 at total registered capital of 98 trillion VND; the total area of land used is 81,000ha, of which 98 projects are being implemented with total capital of 26 trillion VND. Sixty- five projects have become operational with total trading capital of 3 trillion VND.

 

- Overseas investment: During 2006-2010, foreign invest- ment has witnessed some increase: there have been 58 foreign-invested projects licensed with total capital of US$317 billion, of which 104 projects are being imple- mented with total capital of US$176 billion. The contribution to the province’s GDP is 4.5-5% annually.

 
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