Strengthening the Attraction of Foreign Direct Investment to Vietnam's Dak Lak Province in the New Context, Vietnam

Abstract

Dak Lak is a province with tremendous socio-economic development potentials on the Red River Delta. Dak Lak is now one of the highest and fastest-growing provinces in northern Vietnam. The Dak Lak province has been planned to be placed in the capital's metropolitan region and the north-eastern entrance of the capital Ha Noi. Moreover, Dak Lak is situated on Con Minh - Lao Cai - Hanoi - Hai Phong - Quang Ninh and Nam Dinh - Lang Son - Hanoi - Hai Phong - Quang Ninh, two economic corridors. The province lies in the traffic system linked to provinces in the region, such as National Highway 1A, National Highway No.18, National Highway No. 38, the axis of Dak Lak to Lang Son, China; Cau, Duong, and Thai Binh waterways that link Dak Lak to the region's waterway port and maritime system. This is a highly positive aspect in the socio-economic growth and interactions between Dak Lak and neighboring communities. Dak Lak has a huge potential, in particular FDI for socio-etical development, to attract investment money. Nevertheless, in the present situation, Dak Lak has to sustain effective existing FDI with a number of possibilities but also a large number of obstacles and particularly during the industrial age of 4.0 and the current economic integration.