On May 9, Dak Lak PPC held a working session with a delegation from the Executive Agency of Vietnam International Financial Centre in Da Nang city (VIFC-DN).

Delegates attending the working session.

According to experts, Dak Lak’s current economic development model still relies mainly on advantages in land, climate, natural resources, raw material areas and labour. Agriculture remains the core commodity sector, while the province still relies heavily on an extensive, investment-driven growth model with limited added value. Deep processing industries, logistics, technology alongside innovation remain limited.

In the coming period, the province is expected to transition to a new growth model based on dynamic advantages and forest - sea connectivity, prioritising high-tech agriculture associated with deep processing; modern logistics, cold storage combined with seaports; processing industries, energy and port-based industries; high-quality services, forest as well as coastal tourism, international trade, and growth driven more by productivity, technology, innovation along with value retention capacity.

Experts proposed five capital mobilisation channels for Dak Lak through VIFC-DN, including infrastructure investment funds; risk-sharing PPP projects; construction coupled with project bonds; green bonds, green credit; and strategic FDI projects.

Comrade Ho Ky Minh, PPC Standing Vice Chairman of Da Nang city and VIFC-DN Chairman, said the Centre could support Dak Lak across several areas. Regarding forest carbon credits, crop-based carbon credits as well as renewable energy, VIFC-DN will connect buyers and foreign experts to appraise carbon credit projects meeting global standards.

The Centre will also move towards establishing international standard commodity exchanges for coffee, pepper alongside durian products, providing consultancy support to the province, farmers and enterprises.

In terms of capital mobilisation, VIFC-DN will advise on selecting key projects and preparing internationally standardised investment invitation dossiers to attract major financial institutions together with organisations. It will also connect major investors with infrastructure projects such as expressways, railways and urban developments.

Addressing the working session, Party Central Committee member, Provincial Party Secretary and Head of the provincial National Assembly Deputies Delegation, comrade Luong Nguyen Minh Triet said the province hopes to cooperate with VIFC-DN in developing more effective new approaches. The PPC needs to establish coordination regulations, memoranda of understanding along with a dedicated working group for monitoring and management while facilitating investors.

The province also expects VIFC-DN to support localities in international investment promotion, consultancy, training on implementation methods and governance, together with policy recommendations to effectively attract international financial resources.

Delegates posing for a commemorative photograph.

Alternate Member of Party Central Committee, Deputy Provincial Party Secretary and PPC Chairman, comrade Do Huu Huy highly appreciated proposals by VIFC-DN leaders as well as expressed hope that the Centre would support Dak Lak in matters related to carbon credits, capital mobilisation and establishment of agricultural commodity exchanges.

Through cooperation with VIFC-DN, the province seeks to attract major investors for partnerships and investment to fully tap into its potential combined with advantages. In addition, Da Nang city, with its coordinating role, is expected to serve as a leading force and effective bridge for regional connectivity alongside development.

The PPC Chairman requested provincial departments and sectors to strengthen closely as well as proactively with VIFC-DN, particularly regarding key sectors and strategic investment projects.

Translated by KHUONG THAO