On March 10, 2019, in the framework of the 7th Buon Ma Thuot Coffee Festival, the Conference on Investment Promotion with the theme “Potential of Dak Lak – Opportunities of Enterprises” in Dak Lak Province granted certificates of investment registration, investment policy decision, investment memorandum for nearly 40 projects with a total capital of more than VND 71,000 billion.
Accordingly, under the witness of the Politburo members, Standing Deputy Prime Minister Truong Hoa Binh and leaders of ministries, Hai Phat Investment Joint Stock Company (Hai Phat Invest – MCK: HPX) and Construction Company, Traffic works – Cienco 5 (Hai Phat Invest’s associate company) signed a memorandum of investment in Dak Lak province with a total estimated value of 5,750 billion VND in urban area projects at Buon Ma Thuot city, Dak Lak province. In which, Hai Phat Invest will invest VND 5,000 billion and Cienco 5 VND will invest 750 billion.
Speaking at the Conference, Politburo members and Standing Deputy Prime Minister Truong Hoa Binh emphasized: “The Government will focus on directing ministries and departments to improve the administrative procedures and the business investment to create favorable conditions for businesses to develop products and business activities.” Standing Deputy Prime Minister Truong Hoa Binh requested ministers to support the creation of mechanisms and policies for investment in Dak Lak.”
On the same day, Hai Phat Invest and Cienco 5 also had a working session directly with leaders of Dak Lak Provincial People’s Committee on the process of implementing investment procedures for the project of urban areas and residential areas in Dak Lak province before embarking on implementing investment projects in the area.
Dak Lak has the fourth largest natural area of the country with nearly 5,400 km2 of agricultural land, most of which are fertile basalt soil which is suitable for developing economic and exporting crops such as the coffee. Dak Lak is identified as one of the agriculture areas focusing on attracting investment in high technology, organic development to minimize the negative impacts of climate change, maximize efficiency and enhance productivity, quality, and income for people.
Dak Lak also has also tried to draw investment in the tourism sector with the aim of exploiting the potentials and strengths to realize the goal of becoming an attractive destination of the whole country.
Besides tourism, high-tech agriculture, Dak Lak also has great potential for renewable energy (concentrated in high solar energy in the districts of Ea Sup and Buon Don with total solar radiation fluctuating from 4.3 – 5.7 million kWh/ m2, the number of high sunshine hours are from 2,000 to 2,600 hours/year, wind power has a total planned capacity of 1,452 MW, concentrated in Ea H’leo and Krong Nang districts, Krong Buk and Buon Ho town) ./.