Amid the economic headwinds in the first half of 2026, marked by a sharp rise in businesses dissolving or temporarily suspending operations, Dak Lak province is rolling out a series of decisive solutions to support businesses, aiming for a GRDP growth exceeding 10% in 2026.

Statistics for the first half of 2026 show a challenging economic picture for the business community. The entire province saw 428 businesses dissolve (a 98.1% increase compared to the same period last year); 1,209 businesses temporarily suspend operations (a 12.3% increase); and 255 cooperatives cease operations.

Mr. Cao Dinh Huy, Director of the Department of Finance, stated that the dissolved businesses mainly operated in the trade sector (34%), construction (10%), alongside real estate (7%). The main reasons are the slow recovery of purchasing power, high logistics together with input material costs, while many land-related and site clearance issues remain unresolved.

Workers at the factory of KVD VINA Co., Ltd. (Tan An Industrial Cluster, Tan An ward).

Most businesses have reported difficulties including land procedures, the construction of large-scale raw material zones, along with the lengthy administrative processing.

In response to this situation, the leaders of Dak Lak province affirmed their determination to build a service-oriented administration, prioritize business satisfaction. The “green channel” mechanism has been implemented to shorten the processing time for administrative procedures to a maximum of 35 days, which enabled for 106 key projects in the scope of application. Concurrently, the province also committed to completing the land database by the end of 2026, facilitating businesses to access the land more transparently.

Regarding the capital sources, the Director of the Vietnam State Bank of Regional Branch 11, Mr. Nguyen Kim Cuong, stated that credit outstanding for small and medium-sized enterprises (SMEs) remains modest. Inadequate management capabilities combined with a lack of transparency in their accounting and financial reporting systems makes it difficult to assess these credit institutions. In order to access the credit capitals more easily, the businesses need to proactively improve their management capacity coupled with standardize their financial reporting. Simultaneously, the province needs to continue researching credit guarantee mechanisms to support businesses in accessing the capital sources.

Luc Thiem Dak Lak Garment Co., Ltd. providing employment for thousands of local labors.

To sustainably restore the power for the business community, they also need to proactively prepare for a long-term durable development roadmap in the context of Dak Lak provincial strong shift towards a green economy model alongside digital transformation (DX).

Mr. Pham Quang Vinh, former Deputy Minister of Foreign Affairs, believed that to succeed in exports, DX, together with attracting high-quality FDI, large corporations must play a leading role, partnering with as well as closely connecting with local SMEs. In addition, Dak Lak province needs to simultaneously implement three solutions: proactively purchasing modern technology, deeply participating in the international partners’ ecosystem, while building trust in information security coupled with intellectual property.

Economic experts further emphasized that “green products” combined with value chains will enable local agricultural commodities penetrate demanding markets, creating a solid foundation for Dak Lak provincial businesses to recover as well as contribute to the provincial economic breakthrough.

Translated by TRINH THUY