Đắk Lắk Targets 11% Growth, Courts $38 Billion in Investment for Master Plan

Đắk Lắk Province has launched its revised master plan for the 2021-2030 period, with a vision extending to 2050, seeking to attract over VNĐ1 quadrillion (US$38 billion) in registered investment for 257 projects.

The plan was officially presented at an investment promotion conference in Tuy Hoà Ward on June 27. The event was attended by high-level officials including Deputy Prime Minister and Defence Minister Phan Văn Giang, Politburo member Nguyễn Thanh Nghị, who heads the Central Policy and Strategy Committee, and more than 1,000 delegates.

At the conference, the provincial People’s Committee granted approval decisions for 25 projects with a combined registered capital of more than VNĐ40.29 trillion. Simultaneously, it signed memoranda of understanding with 78 investors for prospective projects valued at over VNĐ1 quadrillion. These potential investments span key sectors such as industry, energy, infrastructure, urban development, high-tech agriculture, and logistics.

Among the major projects are the Sêrêpốk 3 floating solar power plant (VNĐ7.6 trillion), Hòa Xuân Tây Industrial Park (VNĐ4.7 trillion), the Thuận Phong Đắk Lắk wind power project (VNĐ3.8 trillion), and Hòa Xuân Đông Industrial Park (VNĐ3.8 trillion). The investment pipeline also includes projects in social housing, agricultural processing, livestock farming, and technical infrastructure.

The broader investment strategy targets a wide range of developments, including shopping and supermarket complexes with Central Retail Việt Nam, wind and solar farms, AI data centres powered by renewable energy, expressways, seaports, logistics hubs, industrial zones, deep-processing industries, high-tech agriculture, healthcare, modern retail, and high-end tourism.

Deputy Prime Minister Giang commended the province for completing its revised master plan, calling it an important milestone for its next stage of development. He urged Đắk Lắk to continue improving its investment climate, strengthening transparency, and resolving business bottlenecks. The Deputy PM emphasized that the province should leverage its inherent advantages to create new growth drivers, enhance productivity and competitiveness, and ensure sustainable development to bolster its contribution to the national economy.

The revised plan positions Đắk Lắk as a growth pole for the south-central and Central Highlands regions. Its development strategy is focused on green growth, modernization, and long-term sustainability, structured around a model of three development zones, three economic corridors, and two key growth poles. While Buôn Ma Thuột will remain the regional hub, the eastern area is slated to become a new industrial, logistics, and maritime centre driven by the green economy, circular economy, innovation, and digital transformation. The province has identified science and technology, innovation, digital transformation, and the marine economy as its new primary growth drivers.

Đắk Lắk has set ambitious economic targets, aiming for average Gross Regional Domestic Product (GRDP) growth of at least 11% per year from 2026 to 2030, with per capita income expected to exceed VNĐ153 million by 2030.

Đỗ Hữu Huy, Chairman of the provincial People’s Committee, said the master plan reshapes the province's development space and provides a legal and strategic framework to mobilize investment and unlock local potential after administrative restructuring. He stressed that effective implementation, requiring close coordination between authorities, businesses, investors, and residents, is paramount.

The province is prioritizing investment in high-tech agriculture and deep processing, manufacturing, renewable energy, logistics, and infrastructure. Huy pledged that the administration would accelerate administrative reform and improve the business climate, placing citizens and enterprises at the center of its policymaking.

"Đắk Lắk will make every effort to shorten investment preparation procedures and create the most favourable conditions for projects to become operational as quickly as possible," Huy said.

He added that with an area of over 18,000 square kilometers and a population exceeding 3.3 million, Đắk Lắk is transitioning from its traditional role as the center of the Central Highlands to a strategic gateway connecting the region with the South Central Coast.