Dak Lak Province will be an economic, cultural and social center in the Central Highlands and an "important pole" in the Development Triangle of Cambodia, Laos, and Vietnam.
The PM just approved the overall planning scheme on socio-economic development of Dak Lak Province to 2020.
Accordingly, the province will make full use of its own available advantages and potentials, including human power, land, forests, hydraulic power and minerals, in order to serve economic restructuring.
Dak Lak should develop the cultivation of long-time industrial crops like coffee, rubber, cashew nut, cocoa and pepper to fuel export activities.
The province also needs to invest in industries which can exploit its resources and materials.
Up to 2020, apart from the province’s capital city of Buon Ma Thuot, some new cities will be founded, namely Ea Kar, Buon Ho, Phuoc An and Buon Trap.
Some specific targets:
* Economic development: Total GDP in 2010 is 1.7 times higher than the 2005 figure and triples in 2020. GDP per capita: VND 9.5-10 million (2010) and VND 42-43.3 million (2020).
Annual GDP growth rate in 2006-2010: 11%-12%; 2011-2015: 12%-12.5% and 2016-2020: 12.5%-13%.
* Social development: Natural population growth rate cut down to 1.5% by 2010; 1.3% by 2015 and 1.1% by 2020.
Poverty rate reduced to 15% in 2010 and there is no poor household by 2020.
* Natural resources and environment: Forest coverage is raised to 50% by 2010 and 54% by 2020.
* Infrastructure: By 2010, 95% of the population can access electric power (100% in 2015) and all communes have telephone lines, 100% of communal post offices and community educational centers are connected to Internet.