Investment attraction situation in Lao Cai province in the first 9 months of 2020
In the first 9 months of 2020, Lao Cai province issued investment policy decisions for 15 domestic projects and attracted investment certificates for 01 foreign direct investment (FDI) project.
DAP Factory - One of the Chinese FDI projects
So far, Lao Cai province has 21 valid foreign direct investment (FDI) projects with a total registered capital of 540.2 million USD. In which, 11 FDI projects from China, 3 FDI projects from Singapore, 3 FDI projects from Korea, 4 FDI projects of individuals and organizations from Denmark, Norway, UK, and USA. FDI projects in the province focus mainly in the fields of mining, processing, tourism, and services; projects in the fields of agriculture, forestry and fishery account for a low rate and small scale.
15 domestic projects granted investment policy decision with the registered capital of over 1,976 billion VND; in which 9 projects in the field of industrial production, 1 project in the field of agricultural production and 4 projects in the field of trade, services and tourism.
As of September 30, 2020, the province has 377 newly established enterprises, an increase of 37 enterprises over the same period, with a registered capital of 3,648 billion VND, equal to 87% of the total capital in 2020. Currently, there are 5,228 enterprises operating on the national business registration system with a total registered capital of 73,801 billion VND.
It is forecasted that the year 2021 will continue to be difficult for the investment attraction activities of Lao Cai province. Therefore, the province will continue to research investment opportunities, potential markets, and develop strategies; accelerating the collection of information and investment trends of investors through a number of organizations operating in Vietnam; at the same time proposing to the Central mechanisms and policies to attract investment suitable to the socio-economic development of Lao Cai in 2021 in the context of the Covid-19 epidemic ... /.
