Dak Lak- a magnet for foreign direct investment
An improved business climate has made the Central Highlands province of Dak Lak an attractive destination for both domestic and foreign direct investment (FDI), helping develop the local economy.
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Notably, the coffee processing sector has four FDI projects valued at nearly VND1.46 trillion (US$64.2 million). An Indian-invested coffee plant was established in the province, which can produce 10,000 tonnes of instant coffee and 6,000 tonnes of liquid coffee and trade 12,000 tonnes of robusta coffee per year.
Another coffee processing company invested by the UK, Dakman Co.,Ltd, can produce 50,000 tonnes of robusta coffee and 5,000 tonnes of cocoa per year.
The provincial People’s Committee said that FDI attraction still lags behind local development demand. Dak Lak is working to lure FDI in agriculture, renewable energies and tourism.
Along with renewing methods of investment promotion, the province is providing online public administrative services to aid investors.