Farm Development in Tay Nguyen Economic Region: Specificity of Formation and Development

The development level of businesses and their competitiveness has a significant effect on the growth of an economic region. The improvement in comparative advantage for regional social and economic development will contribute to the strengthening and expanding possibilities for farm owners as well as to encouraging the authorities of the province to pay a special attention to an accelerated farm transformation in the agriculture of Tay Nguyen region. Farm economy development is considered to be an inevitable trend and its effectiveness does not rely too much on laws and market practice but on the understanding of the regional structure taking into account the demands and peculiarities of this economic agent. Using the methods of descriptive statistics and the analysis of secondary data, this paper is devoted to the analysis of the essence of farm economy of Tay Nguyen region. A special place has analysis of the theoretical basis of economic zones and the identification of comparative advantages of the region in farming development. The results of this empirical research aim to discover the specificity of formation and development of farm economy in the Tay Nguyen region nowadays.