Big projects were signed by the two countries' partner enterprises on the occasion of the 90th anniversary of the province’s establishment.
In May 2022, the Royal Enterprise De Heus Group (Netherlands) and Hung Nhon Group (Vietnam) kicked off the DHN Gia Lai Hi-tech Agricultural Complex Project with a total investment of more than 1,030 billion VND, equivalent to US$ 44 million. This activity did not only happen on the occasion of the 90th anniversary of the founding of Gia Lai province, but also marks an important step forward in attracting investment of this great land of the Central Highlands of Vietnam.
One of the criteria for Gia Lai to be the destination of the above complex project comes from the fact that this locality has a mild climate and large grassland area, which is very suitable for large-scale livestock development. “With the DHN Gia Lai High-tech Agricultural Complex Project, we hope to contribute to transforming Gia Lai into the livestock capital of the Central Highlands region” said by Mr. Vu Manh Hung, Chairman of the Board of Directors, General Director of Hung Nhon Group.
More specifically, not only this complex, many other large projects worth millions of US dollars have been registered to invest in Gia Lai. Over the years, Gia Lai has become the destination of many domestic and foreign strategic investors. The explosion of investment projects comes from the huge capital flow of businesses, which contributes to activating local development in many industries. In the period 2011-2015, Gia Lai had only more than 110 investment projects, but now the number of projects has increased 5 times. About 589 projects have been registered with a total registered capital of approximately 820,000 billion VND, equivalent to nearly US$ 35 billion, increased 34 times in capital. Sectors that attract the most investment come from agriculture, renewable energy and tourism.
With the field of renewable energy, Gia Lai province currently has 163 wind power and solar power projects with a total capacity of 21,875 MW, the total investment is expected to be over VND 539,000 billion, equivalent to US$ 23 billion. With particularly 16 wind power projects are under construction with a total capacity of 1,142 MW, Gia Lai attracts more than VND 40,000 billion. In addition, the agricultural sector has attracted 23 farming projects, 44 processing projects, and 103 livestock projects with a total investment capital of about 33,666 billion VND, equivalent to 1.4 billion USD. Finally, there are 15 projects for the tourism sector that have attracted 7,100 billion VND, equivalent to US$ 308 million.
Source: Internet
The area has plenty of potential and opportunities for investors
Gia Lai used to be a slow-growing locality in the past due to its specific geographical position and national defense security, together with regulations on ensuring political security. Recently, the Party and Government have given the Central Highlands in general and Gia Lai in particular many priorities, conditions and policies to promote growth and create favorable conditions as well as investment opportunities for investors, especially foreign direct investment (FDI) projects in the province are no longer facing many difficulties as before. Therefore, the province's potential to attract investment is still very large.
Due to the improper investment, the strengths and potentials of the province are almost pristine. Therefore, many large enterprises and corporations when coming to Gia Lai, after the survey process, discovered the potential and started to implement investment projects.
Not only having the above-mentioned strengths, Gia Lai province also has a very developed road system, with 5 national highways passing through, especially with Pleiku Airport which is a convenient connection with major economic centers of Vietnam. In addition, Gia Lai has the best connection and capacity release infrastructure compared to the whole country, creating its own advantages in attracting investment in renewable energy.
Furthermore, the strong improvement of the investment environment and administrative procedures is also one of the reasons for the province's breakthrough. Currently, Gia Lai's provincial competitiveness ranking is 26/63 in the Provincial Competitiveness Index (PCI), an increase of 12 places compared to 2020 and ranked 2nd in the Central Highlands region.
Additionally, to help in shortening the time for investment registration, businesses only need to submit their documents at the Gia Lai Department of Planning and Investment, rather than going to all departments. The province also formed a working group to promote investment and to solve difficulties and problems of companies. Besides, organizing regular dialogues and meetings to listen to the feedback of businesses is also a factor of interest and concern of provincial leaders and departments. With the goal of building Gia Lai into an ideal destination for investment, the province is committed to accompanying and listening to all opinions and contributions from businesses.