In the context of increasingly limited public investment, Lao Cai has actively taken the spearhead of attracting investment from the non-budget sector, attracting more than 133 trillion VND in the 2016-2020 period.

With a favorable geographical location, many potentials for minerals, tourism and border gates, in recent years, Lao Cai's socio-economic development has strongly developed. Economic growth maintained at 10% / year, the rate of poor households decreased from 34.3% to 8.46%, people's living standards were increasingly improved and social security was guaranteed.

In early 2016, the Fansipan cable car owned by Sungroup Group was officially inaugurated. This is one of the big projects that Lao Cai has attracted investment, contributing to promoting the development of tourism and local services. Each cabin on the cable car can accommodate up to 30 - 35 guests, carrying capacity of up to 2,000 passengers per hour, helping to shorten travel time to the top of Fansipan to 15 minutes instead of 2 days traveling by road. as before. Total investment of phase 1 of the project complex is 4,400 billion VND.

According to the plan, Sa Pa Airport is located in Bao Yen district with an area of 371 ha. Total investment is expected to be more than 5,903 billion. In the structure of investment capital, Lao Cai proposed the central budget to support 3,088 billion VND to build the flight zone and backbone to Sa Pa airport. The budget of Lao Cai province will spend 910 billion VND for site clearance, building resettlement areas, clearing bombs and mines ... Civil aviation projects, aviation fuel depots of about 1,772 billion VND ... will mobilize capital from private enterprises to participate in the form of PPP (type of BOT contract).

Also in 2019, the Government approved a plan to build an 18-hole Lao Cai golf course project invested by Fansipan Sa Pa Cable Car Service Co., Ltd. built in Ban Qua commune (Bat Xat district) on an area of 80. ha. Of the more than 550 billion dong of capital to build this golf course, about 440 billion dong (about 80% of the total investment) is borrowed money, and more than 110 billion dong belongs to the investor's equity. Lao Cai golf course has a operating time of 70 years and is expected to be put into operation after 2 years after being approved.

Those are three of many big projects attracted by Lao Cai in this period. An improved business investment environment with the motto "prosperous enterprises, developing Lao Cai", and a commitment to creating favorable conditions for investors have helped Lao Cai to attract large sources of capital off-budget. . Notably, at the end of 2019, at the Investment, Trade and Tourism Promotion Conference of Lao Cai Province, the Provincial People's Committee signed many cooperation agreements with 10 major investors, including: Sun Group, Bitexco Group, TNG Group, T&T Group, KOSY Joint Stock Company, Phu Hung Production - Import Joint Stock Company ... Accordingly, corporations and enterprises on investment commitments about 120 trillion VND to enter Lao Cai province in the next phase in the fields of urban development, traffic infrastructure construction, high-end tourism and resort, high-tech agriculture to create the driving force for the province to develop socio-economic.

During this period, Sun Group and Lao Cai Provincial People's Committee signed an investment cooperation agreement of 22.5 trillion VND with 9 projects including: Complex of cultural tourism, cable car services, entertainment area, Fansipan Sa Pa hotel (phase 2); Lao Cai golf course; Cultural Park; Lao Cai Airport ... On April 9, 2020, the Provincial People's Committee issued Document No. 1498 on the issuance plan of Sun Group's projects in the area in 2020. Up to now, projects invested by Sun Group are basically being implemented according to plan.

Bitexco Group has signed cooperation agreements to invest in 11 projects in Lao Cai with a total registered capital of more than 36.6 trillion VND, including the mixed building of The Manor urban area project, the Northeastern urban area of Sa Pa. , Suoi Ho new urban area, Sa Pa new urban area, energy investment project; high quality school system; high-quality hospital project ... In which, the highlight is a 22-storey mixed-use building that functions as an apartment, office for lease, 5-star hotel combined with a commercial center. This is the item in the overall investment project in Decision 1558 dated June 26, 2012 of the Provincial People's Committee, the project has a total investment of 1.3 trillion VND separately. Currently, the investor has performed many works, the disbursement value is 160 billion VND.

Mr. Nguyen Quang Thinh, Director of Sa Pa Lao Cai Investment and Development Joint Stock Company (a member of Bitexco Group) affirmed: In implementing projects, Lao Cai province always creates favorable conditions for businesses, from dossiers to tax legal procedures, supporting enterprises to connect electrical, water and transport infrastructure systems. This is an important factor to help investors decide to choose Lao Cai as the destination of many projects.

Total mobilization of social investment capital in the province in the period 2016 - 2020 is estimated at nearly 171 trillion dong, equaling 107% of the target of Project 5, equal to 117% of the target of the Resolution of the Party Congress of the province. XV. The results of the mobilization of capital sources have a positive trend, including declining budgetary capital, increasing out-of-budget capital mobilization in the proportion of total annual social investment capital. Specifically, the proportion of state capital decreased from 27% (in 2016) to about 19% (in 2020). Thus, in the 2016 - 2020 period, on average, 1 dong of state budget capital will attract 5 dong of capital outside the state budget.

Although it has attracted great resources outside the local investment budget, the implementation of projects has faced many difficulties. Typically, the Northwest backup area social housing project of Bitexco Group has completed the basic design and construction engineering design, has been allocated land for phase 1 at plot OCC2, built 2 buildings. A, B. The rest of the area has not been allocated land due to land clearance. For Project Complex of cultural tourism, cable car services, entertainment, entertainment, Fansipan Sa Pa Hotel of Sun Group Phase 2 is 12 months behind schedule. The main cause of the difficulties lies in the clearance to hand over to investors. In order to speed up the progress of non-budget investment projects, the Provincial People's Committee instructs the relevant authorities to review each project to take measures to remove difficulties for investors.

Mr. Phan Trung Ba, Director of the Department of Planning and Investment said: Based on the guidelines and orientations of the Government, based on the actual conditions of the locality, Lao Cai province has made many efforts to promulgate policies to attract off-budget investment and improve the investment environment. business, such as land rent incentives, corporate income tax, personal income tax, import - export tax, site clearance; policies to support businesses investing in the fields of agriculture, industry, tourism, service, trade ... The province has established a business support team to facilitate the business community in proposing and recommending. Continue through the team, consult the Provincial Standing People's Committee to direct within the day of receiving complaints and recommendations. Annually, the province organizes conferences to meet with investors in the area to inform and introduce socio-economic development orientations, and at the same time listen to opinions of the business community, thereby creating more open investment environment.

Although there are still limitations left by history, Lao Cai is making every effort to seize the opportunity to attract investors. The improvement of the investment climate, respect for investors and efforts in land clearance has been helping Lao Cai to attract investment resources outside the budget.

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