Lam Dong Targets Double-Digit GRDP Growth in 2026

Ambitious Growth Targets

The 1st Congress of the Lam Dong Provincial Party Committee (2025–2030 term) set the goal of turning Lam Dong into a fairly developed province and a dynamic, sustainable growth pole of the region by 2030. The province aims for GRDP per capita of approximately USD 6,700–7,500, with average annual GRDP growth of 10–10.5%.

In 2026—the first year of the new term—Lam Dong targets GRDP growth of 10 percent, marking its first attempt to achieve double-digit economic growth. Success in 2026 is expected to provide strong momentum for the entire 2026–2030 period.

However, this ambitious goal comes amid continued socio-economic challenges. While Lam Dong possesses vast development space and significant advantages, the province faces pressure from operating the two-tier local government model and addressing long-standing unresolved issues that continue to affect socio-economic performance.

According to Mr. Ton Thien San, Director of the Department of Finance, Lam Dong’s economy still faces numerous “bottlenecks” that must be addressed to unlock development resources.

“Public investment plays a decisive role in economic growth. To accelerate growth, the most important task is to remove bottlenecks in this sector—from project preparation and investment approval to site clearance and contractor selection. All stages must be ready in advance to avoid delays once projects are approved,” Mr. San said.

Beyond public investment, Lam Dong is also focusing on removing obstacles in investment attraction, clearing stalled projects, accelerating transport and digital infrastructure development, and improving governance capacity. The province is demonstrating strong political determination to create early momentum for the new term.

Full Effort for Breakthrough Growth

Chairman of the Lam Dong Provincial People’s Committee Ho Van Muoi emphasized that 2026 is a pivotal year for implementing the Resolution of the 1st Provincial Party Congress.

“This is a critical year. The province must both resolve outstanding issues from 2025 and strive for double-digit GRDP growth. This is not only Lam Dong’s task, but a shared responsibility of the entire political system,” he said.

To achieve this goal, key economic sectors—industry, agriculture, and construction—must develop in the right direction. These sectors form the backbone of Lam Dong’s economic structure and serve as the primary drivers of sustainable growth.

Mr. Ton Thien San noted that construction and basic infrastructure investment have a strong spillover effect on GRDP growth. Accelerating public investment disbursement and key projects not only stimulates economic activity but also improves residents’ quality of life.

He also stressed the need to improve coordination among relevant agencies. “Poor inter-agency coordination has reduced the effectiveness of removing project-related obstacles. Even simple issues are sometimes delayed until formal meetings. This is a lesson the province must seriously address,” Mr. San said.

Private-sector investment also accounts for a significant share of GRDP growth. To attract more private capital, Lam Dong must continue improving institutional mechanisms, policies, and administrative friendliness.

Currently, more than 300 projects in the province are classified as delayed. Authorities are reviewing each case to clearly define responsibilities and jurisdictions. At the same time, the Department of Finance is advising the Provincial People’s Committee on approving several major projects, particularly in bauxite mining and processing—areas considered to hold significant growth potential.

Discussing growth solutions, Director of the Department of Industry and Trade Nguyen Ba Ut proposed holding more thematic, in-depth meetings rather than broad, general discussions. “Specialized meetings allow difficulties to be addressed directly and solutions to be agreed upon on the spot,” he said.

Regarding bauxite projects, Mr. Ut noted that the final bottleneck is currently under review by the Ministry of Agriculture and Environment. Once resolved, all approved projects will be accelerated. “If conditions are favorable, achieving 10% GRDP growth in 2026 is entirely feasible,” he affirmed.

Creating Momentum for the Whole Period

Achieving 10% GRDP growth in 2026 plays a decisive role for Lam Dong. Beyond removing obstacles in public and private investment, the province must accelerate planning implementation, increase state budget revenues, and create a more favorable environment for investors and enterprises—laying a solid foundation for sustainable development in the years ahead.