Lam Dong Accelerates Drive Toward Double-Digit Economic Growth
Lam Dong's Gross Regional Domestic Product (GRDP) expanded by nearly 8% in the first half of 2026, falling short of the province's projected growth scenario but still reflecting solid economic fundamentals. Provincial authorities now face the challenge of removing key bottlenecks and maximizing growth drivers to achieve their double-digit GRDP growth target for the full year.
Economic Pillars Continue to Support Growth
According to the Lam Dong Provincial People's Committee, the province's GRDP increased by an estimated 7.97% year-on-year during the first six months of 2026.
The figure places Lam Dong among the country's faster-growing localities and reflects sustained efforts by provincial authorities, businesses, and local industries to maintain production and economic activity despite ongoing challenges.
Agriculture, forestry and fisheries continued to serve as the province's economic foundation, expanding by 5.3%, exceeding the six-month target of 4.9%.
The industrial sector also maintained solid momentum. Industrial production increased 9.6%, while manufacturing grew 16.76% and mining expanded 17.67%.
The services sector continued to recover strongly, supported by robust tourism growth. During the first half of the year, Lam Dong welcomed nearly 12 million visitors, an increase of 18.1% compared with the same period in 2025. International arrivals reached approximately 825,000, up 18.6%, while tourism revenue exceeded VND 33.3 trillion, representing growth of more than 22%.
This is also the period that will test the leadership, management, and implementation capacity of every level of government, every sector, every locality, every agency and organization in translating political determination into concrete results associated with the goal of achieving double-digit economic growth.
Y Thanh Ha Nie Kdam, Member of the Party Central Committee, Secretary of the Lam Dong Provincial Party Committee, and Head of the Provincial National Assembly Delegation, speaking at the launch ceremony of the 180-Day Emulation Campaign to Achieve Double-Digit Growth in 2026.
State budget revenue reached nearly VND 18.9 trillion, while non-state investment attraction continued to improve. The province approved 35 new investment projects with total registered capital exceeding VND 56 trillion.
Business formation also accelerated significantly, with approximately 2,600 new enterprises established during the first half of the year—an increase of around 80% compared with the same period last year.
These indicators demonstrate that Lam Dong continues to benefit from multiple growth engines, including agriculture, industry, tourism, services, and investment, providing a strong foundation for implementing coordinated measures to accelerate economic expansion during the remainder of 2026.
Identifying the Remaining Bottlenecks
Despite encouraging overall performance, first-half GRDP growth remained below the 9.32% target outlined in the province's economic growth scenario.
According to the Lam Dong Provincial Statistics Office, the primary reason was that two major growth drivers—industry and construction, together with the services sector—did not achieve their projected performance.
Truong Thi Mong Di, Deputy Head of the Provincial Statistics Office, said the underperformance of these two sectors was the principal factor preventing the province from reaching its mid-year growth target.
One of the most significant constraints remains the slow disbursement of public investment. As of mid-June 2026, only about 14% of the allocated public investment budget had been disbursed.
Compensation and land clearance procedures continue to delay numerous projects, while several major infrastructure developments have fallen behind schedule. These delays not only affect construction activity directly but also create ripple effects across multiple sectors of the provincial economy.
Removing Bottlenecks to Accelerate Growth
Provincial statisticians estimate that Lam Dong must achieve growth of at least 12% during the second half of 2026 in order to meet its full-year 10% GRDP growth target.
Although challenging, officials believe the objective remains achievable provided that identified constraints are addressed quickly and existing advantages are effectively translated into measurable economic results.
Public investment is expected to become the province's primary growth catalyst during the remainder of the year.
Accelerating the disbursement of public investment funds will stimulate employment, boost construction activity, and generate additional demand across building materials, transportation, commerce, and related services.
Accordingly, the Provincial People's Committee has set a target of 100% disbursement of the 2026 public investment plan while making agency heads directly accountable for implementation results.
According to Le Ngoc Tien, Director of the Department of Finance, provincial authorities will prioritize support for manufacturing enterprises while accelerating strategic investment projects.
Between now and the end of 2026, approximately 14 industrial projects, representing combined investment of more than VND 23.7 trillion, are expected to become operational. Renewable energy, manufacturing, and supporting industry projects are anticipated to provide significant additional momentum for provincial economic growth.
Within the services sector, authorities are focusing on stimulating tourism and consumer spending during the peak travel season.
Lam Dong aims to welcome more than 25 million visitors during 2026, generate tourism revenue exceeding VND 71 trillion, and achieve total retail sales and service revenue of more than VND 212 trillion.
The agricultural sector will continue to focus on expanding high-tech farming, accelerating digital transformation, and strengthening disaster and disease prevention to sustain stable growth.
Speaking at the launch of the 180-Day Emulation Campaign to Achieve Double-Digit Growth in 2026, Ho Van Muoi, Member of the Party Central Committee, Deputy Secretary of the Provincial Party Committee, and Chairman of the Lam Dong Provincial People's Committee, instructed government agencies, departments, and local authorities to immediately develop implementation plans aligned with their assigned responsibilities.
He emphasized that each agency must clearly define objectives, implementation schedules, responsibilities, and expected outcomes. Performance will be evaluated based on economic growth, public investment disbursement, administrative reform, digital transformation, and the satisfaction of citizens and businesses.
Lam Dong possesses no shortage of growth drivers. The province's immediate priority is to eliminate remaining bottlenecks, unlock available resources, and accelerate economic growth in the second half of the year to achieve its double-digit growth target for 2026.