Creating an open and transparent investment environment

With the motto "The government accompanies with enterprises", in recent years, Lao Cai province has always considered difficulties and obstacles of investors and businesses like us to solve. This has helped more and more businesses come to Lao Cai.

Commercial housing area in Lao Cai city invested by Bitexco Group.

 Before investing in Lao Cai, Cuong Phat Hanoi Market Management Exploitation and Construction Cooperative sent a working group to study the investment environment in the locality.  Realizing that Lao Cai is a province with many preferential mechanisms and policies and the government always accompanies with investors and businesses, Cuong Phat Hanoi has decided to invest in the construction of Pho Moi tourist market (city).  Lao Cai).  The project has a total investment of nearly VND 400 billion, with a construction area of ​​more than 11,500 m2, including 520 business kiosks in 31 categories and 66 adjacent houses on the road.  This is the first tourism market project in Vietnam and is designed in harmony between the characteristics of traditional markets and the sophistication of modern shopping space.  After more than 2 years of construction, the project's items are entering the finishing stage and expected to be put into operation at the end of 2019.

 Mr. Nguyen Huu Cuong, Chairman of Hanoi Real Estate Club, Director of Cuong Phat Market Management Exploitation and Construction Cooperative, said: We chose Lao Cai to invest because it is a locality with a lot of  tourist sites, geopolitics are very good and the state management agencies create maximum conditions for businesses.  Therefore, the appraisal and approval of related documents ensures timely and problems are led from the ward to the departments and offices of Lao Cai city and the provincial agencies support definitive settlement.

 Operatition in Lao Cai province for more than a decade, Phu Hung Production, Import and Export Joint Stock Company has been investing heavily in urban development projects and commercial infrastructure construction in the province.  Lao Cai city, with a total investment of about 2,000 billion dong so far.  Bui Duy Dong, Chairman of the Board of Directors of this company, assessed that Lao Cai province had quick investment procedures, ready to support investors and businesses when facing difficulties and problems together with the advantages of developing industry, tourism, border gates, Lao Cai attracts many large investors to participate in urban and real estate development.  The projects, urban areas and large constructions are completed, which are creating an important highlight in the economic picture of Lao Cai.

 Not only in the field of commerce, tourism, and real estate, Lao Cai industry also attracts many strong investors and businesses involved in processing of minerals.  Duc Giang - Lao Cai Chemical Co., Ltd is one of the leading enterprises in the country in producing products from apatite ore.  With the active support of related departments and agencies of the province, the company has invested in project activities in Tang Loong Industrial Park, while focusing on deep-processing products from valuable ores.  High economy, meeting the requirements of domestic and export markets, such as food phosphoric acid, DCP animal feed additives ... Up to now, the company has provided stable jobs for 1,500 local employees. In 2018, the company's revenue reached 5,500 billion VND, the average income of employees reached more than 13.5 million VND / month.

Lao Cai industry also attracts many investors and businesses.

 According to Pham Van Hung, Deputy General Director of Duc Giang - Lao Cai Chemical Co., Ltd, the investment and production environment in Lao Cai province has been increasingly improved, especially the provincial leadership in solving problems for the company.  Clear evidence is that the revenue from production and business of the company grew well, the amount of tax paid annually increased.  The company hopes that in the coming time, the province will support and allow the unit to invest in the field of exploitation to take initiative in input materials.

 Currently, the province's industrial parks and complexes have attracted 170 investment projects, with a total capital of nearly 23 trillion dongs, of which 131 projects come into operation and the production value reaches about 20,000 billion dong / year, accounting for nearly 70% of industrial production value of the whole province.  Industrial parks and clusters create nearly VND 1 trillion in revenue for the province and create jobs for 10 thousand workers.

 According to information from the Department of Planning and Investment, from 2016 to date, the province has attracted 138 investment projects with a total additional registered capital of VND 21,143 billion, of which 133 investment projects and 5 foreign investment projects.  11 ODA projects have been mobilized with total investment capital under the signed agreements and credit agreements of VND 3,505 billion, of which VND 1,836 billion is from ODA capital and VND 669 billion is counterpart fund.  Received 96 foreign programs, projects and grants with nearly VND 300 billion.

 Investment projects have been bringing socio-economic benefits to the province.  In 2018, GRDP growth rate reached 10.23% / year - the year with the highest growth rate in the last 3 years, ranking 3rd compared to 14 provinces in the Northern Midland and Mountain area, after Bac Giang Province and Thai Nguyen province;  The average income of the people reached 61.84 million VND / person / year, equal to the average of the whole country;  total state budget revenue in the province reaches VND 8,368 billion.  In the first 6 months of 2019, economic growth reached 10.02%.

Talking to the reporter, Mr. Nguyen Duy Hai, Deputy Director of Department of Planning and Investment, said: With drastic implementation of administrative procedure reform at all levels and branches of the province, such as reducing time  administrative procedures, especially the procedures for enterprise registration, land, tax, customs procedures, development and implementation of preferential policies under the Law on Public Investment, have contributed to step by step removing  remove barriers of business investment, create favorable conditions for businesses and investors, attract investment resources for the province's development.

 To continue attracting high-value projects, while improving the efficiency of investment attraction in the province, the province determines to mobilize a variety of resources to invest in construction, renovation and upgrading of structures.  socio-economic infrastructure along the direction of synchronism and modernity, especially transportation network, infrastructure of bordergate economic zones, industrial parks and complexes;  continue to adjust, supplement and perfect suitable incentive mechanisms and policies, create a more favorable, more open and transparent investment environment;  maintain meetings and dialogues between provincial leaders, leaders of departments, branches and localities with enterprises and investors in order to promptly remove difficulties and problems arising;  enhance link effectiveness in the areas of planning, tourism development, deep processing industry, trade, border trade and high-tech agriculture.


(According to Quang Minh / Lao Cai Newspaper)

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