10:57 | 11/03/2015 Society
The fifth Buon Ma Thuot Coffee Festival opened on March 10, attracting hundreds of local and international businesses.
The event was part of celebrations of the 40th anniversary of the Buon Ma Thuot Victory.
At a meeting held in the Central Highlands city to welcome international business delegations, Permanent Vice Chairman of the Dak Lak People's Committee, Y Dham Enuol, introduced the potential for cooperation in the province's socio-economic development.
He said Dak Lak attracted more than 540 projects with a total investment capital of 65 trillion VND of which 11 foreign investment projects were from the UK, France, Japan, Thailand and China.
Most of the projects focused on agricultural production, cattle feed processing, bio-fuel production, cultivating flowers for exports, trading and services, he said.
The Vice Chairman urged foreign businesses attending the festival to boost investments in the province's infrastructure and high technology sectors.
Dak Lak – the capital of Vietnamese coffee – has the largest coffee growing area and productivity in the country. Its export of 450,000 tonnes of coffee seeds every year accounts for 80 percent of total production.
The biennial festival aims to further promote the Vietnamese coffee brand, honour coffee growers and popularise the coffee culture and tourism attractions of Buon Ma Thuot city.
It also intends to increase the value of coffee exports and entrench Vietnam's position in the international coffee market.
The event aims to be a venue for coffee growers, businesses and consumers to forge links via a wide range of activities including an exhibition on Buon Ma Thuot coffee, a coffee-making contest and a conference on sustainable coffee development.
In 2014, Vietnam produced over 1.37 million tonnes of coffee, of which Dak Lak contributed over 450,000 tonnes. Last year's coffee export value was 3.4 billion USD.
Coffee plays an important role in the socio-economic development of the Central Highlands, helping reduce poverty in areas inhabited by ethnic minorities.