Lam Dong Builds Momentum for Double-Digit Growth
The synchronized expansion of industry, trade and services, together with a strong wave of new investment projects, is reshaping Lam Dong's economic landscape. Emerging growth drivers are building a solid foundation for the province to achieve its ambitious double-digit economic growth target.
New Growth Engines Take Shape
At Nhan Co Industrial Park in Nhan Co Commune, Lam Dong Province, Dak Nong Aluminum Electrolysis Plant—commissioned in late July 2026—is gradually reaching stable operations.
Across its modern production lines, manufacturing and logistics activities are accelerating as containers loaded with aluminium ingots leave the factory to supply domestic industries.
The launch of Vietnam's first domestically produced aluminium ingots in Lam Dong is expected to establish a new industrial value chain while making a significant contribution to the province's GRDP growth.
Politburo Member, Deputy Prime Minister and Minister of National Defence Phan Van Giang emphasized that, with an annual capacity of around 450,000 tonnes of primary aluminium, the project is expected to generate annual production value of US$1.35–1.4 billion, equivalent to VND35–36 trillion.
Beyond creating more than 1,000 skilled direct jobs, the project is expected to generate an additional 3,500–4,000 indirect jobs across raw material supply, energy, transport, logistics, mechanical engineering, equipment maintenance, technical services and trade.
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Once operational, the project will create opportunities for Lam Dong and the Central Highlands to attract supporting industries and accelerate economic growth. As Vietnam pursues rapid and sustainable development, securing a domestic supply of primary aluminium is strategically important. The project will reduce import dependence and strengthen supply chain resilience against external disruptions.
Politburo Member, Deputy Prime Minister and Minister of National Defence Phan Van Giang
Earlier this year, Lam Dong also welcomed several manufacturing projects in its eastern economic corridor.
In May 2026, Neotek Vietnam Industrial Plant, with an annual capacity of 12 million automotive brake discs, commenced operations. It was followed by Shiny Circle Vietnam Stationery Manufacturing Plant, capable of producing 18,000 tonnes of products annually. Meanwhile, Nam Ha Vietnam Footwear Factory expanded production by adding three new assembly lines, bringing its total capacity to 6.8 million pairs of shoes per year.
These new investments, combined with the recovery of key manufacturing industries, have significantly boosted the province's industrial production index while highlighting the increasingly positive outlook for Lam Dong's economy.
Beyond leveraging existing strengths, Lam Dong is laying the groundwork for its next development phase. Construction is progressing rapidly across strategic infrastructure projects aimed at expanding industrial capacity and creating new investment opportunities.
According to Phan Duong Cuong, Head of the Provincial Industrial Parks Authority, well-prepared infrastructure, industrial land and an improved investment environment will strengthen Lam Dong's competitiveness in attracting new capital flows and sustaining long-term growth.
Provincial chief statistician Pham Quoc Hung noted that the province's growth momentum continued to strengthen during the second quarter of 2026.
"Under current favourable conditions, Lam Dong's GRDP growth in the second half of 2026 is expected to accelerate further, exceeding the 9.22% recorded in the second quarter."
Investment and Consumption Reinforce Growth Momentum
Alongside industrial expansion, Lam Dong's consumer market has continued to improve. Visitor numbers and commercial activity have increased across supermarkets, shopping centres, restaurants, hotels and coastal tourism destinations.
During the first seven months of 2026, total retail sales surpassed VND 100 trillion, up more than 17% year-on-year, while revenue from accommodation, food services and tourism exceeded VND 20 trillion, marking an increase of over 23%.
These figures reflect recovering consumer demand and the effectiveness of the province's tourism and trade promotion programmes. Rising consumption is also encouraging businesses to expand production and investment, creating a positive economic cycle.
Investor confidence has remained equally strong. During the first seven months of the year, Lam Dong attracted more than 60 investment projects with combined registered capital exceeding VND 200 trillion, primarily in industrial manufacturing and energy.
These investments represent more than capital commitments—they demonstrate growing confidence in Lam Dong's business environment and lay the foundation for future employment, higher budget revenues and broader economic development.
Public investment has also remained a major growth driver. By the end of July 2026, public investment disbursement continued to accelerate as project management authorities worked closely with local governments to resolve bottlenecks related to land clearance, construction materials and administrative procedures.
Contractors have been urged to mobilize maximum resources to ensure key infrastructure projects progress on schedule while maintaining quality standards.
Despite ongoing global economic uncertainties, positive performance across industry, services, investment and infrastructure demonstrates that Lam Dong has maintained strong growth momentum. These favourable conditions provide a solid foundation for the province to achieve its goal of more than 10% economic growth in 2026.