Central Highlands examines how to attract more foreign investment
The Central Highlands region lags behind other areas in the country in attracting foreign investment due to its poor infrastructure and lack of skilled labour.
According to the Foreign Investment Agency under the Ministry of Planning and Investment, the region, which comprises Kon Tum, Gia Lai, Dak Lak, Dak Nong and Lam Dong, had 148 valid foreign-investment projects with a total registered capital of US$819 million by the end of last year.
Of these provinces, Lam Dong led with 122 projects capitalised at approximately US$500 million and accounting for 82% of the region's total foreign-invested projects and 61% of total registered FDI, the agency noted.
Dak Lak ranked second with six projects, valued at US$150 million, while Gia Lai placed third with 11 projects valued at US$80 million. The two remaining provinces of Kon Tum and Dak Nong had nine projects with a combined capital of US$89.6 million.
Of note, Hong Kong (China) was the region's leading foreign investor with US$150 million, making up 18% of its total FDI. It was followed by Taiwan (China), with US$122 million or 15%, and Japan with US$103 million or 12%.
During the reviewed period, the agro-forestry-fisheries sector absorbed the largest share of FDI with US$350 million, accounting for 42% of the region's total FDI, following by processing and manufacturing industries with US$198 million, or 24% of FDI pledged in the region.
To attract more FDI, the agency suggested that these five provinces accelerate investment promotions to publicise their investment climates, potentials and prioritise sectors to alert foreign investors about investment opportunities.
Top priority should also be given to further upgrading infrastructure and improving human resources to better attract investors, it added.
Of these provinces, Lam Dong led with 122 projects capitalised at approximately US$500 million and accounting for 82% of the region's total foreign-invested projects and 61% of total registered FDI, the agency noted.
Dak Lak ranked second with six projects, valued at US$150 million, while Gia Lai placed third with 11 projects valued at US$80 million. The two remaining provinces of Kon Tum and Dak Nong had nine projects with a combined capital of US$89.6 million.
Of note, Hong Kong (China) was the region's leading foreign investor with US$150 million, making up 18% of its total FDI. It was followed by Taiwan (China), with US$122 million or 15%, and Japan with US$103 million or 12%.
During the reviewed period, the agro-forestry-fisheries sector absorbed the largest share of FDI with US$350 million, accounting for 42% of the region's total FDI, following by processing and manufacturing industries with US$198 million, or 24% of FDI pledged in the region.
To attract more FDI, the agency suggested that these five provinces accelerate investment promotions to publicise their investment climates, potentials and prioritise sectors to alert foreign investors about investment opportunities.
Top priority should also be given to further upgrading infrastructure and improving human resources to better attract investors, it added.