Lesson 1: State-owned economy creates an ecosystem.

In Lao Cai, the state-owned enterprise sector is asserting its leading role in regulating strategic economic activities, unlocking resources to work together with the private sector to propel Lao Cai forward strongly in the new era of development.

In line with the spirit of Resolution No. 79-NQ/TW of the Politburo on the development of the state-owned economy, state-owned enterprises in Lao Cai are focusing their resources on disadvantaged areas and sectors where the private sector cannot yet handle the workload. From mastering raw materials and technology in the chemical industry to the pioneering mission in the electricity and digital infrastructure sectors, the state-owned economic sector is affirming its leading role in development. This unlocks all resources, enabling private enterprises and the community to develop sustainably in this border region.

In traditional economic thinking, state-owned enterprises are often framed as slow, inefficient "giants" operating in a scattered manner compared to the vast resources they possess. However, in Lao Cai, the state-owned economy is asserting its strategic role: it does not replace private sector operations but is present only in difficult areas or key sectors where the private sector is unable or unwilling to take on the responsibility.

Comrade Do Xuan Thuy - Deputy Director of the Department of Finance, stated: “The added value of state-owned enterprises in the province is a comprehensive value, encompassing economic efficiency, social stability, resource protection, and maintaining national defense and security. In 2025 and the first months of 2026, the entire state-owned enterprise sector in Lao Cai basically preserved its capital and operated profitably, with total after-tax profits exceeding 4 billion VND. However, profit is not the only measure; the greatest value lies in its role in creating an ecosystem for other economic sectors to develop together.”

Vietnam Apatite Company Limited - the unit holding the main raw material for the national fertilizer industry - means that any fluctuations at the company's mining sites can have an impact on the entire chemical ecosystem.

Mr. Ngo Vu Minh, Deputy General Director of Vietnam Apatite Company Limited, affirmed that the company's core mission is to ensure a stable supply, especially during periods of global market volatility.

With revenue of 2.149 billion VND from this segment, the company has helped domestic fertilizer factories maintain operations, contributing to ensuring national food security.

The "boost" for the private economy also comes from bold moves in technology. Vietnam Apatite Company Limited has proactively invested in deep processing to optimize resources.

Notably, Patent No. 42310 concerns a mechanochemical method for processing dolomite-rich phosphate ore to obtain phosphate concentrate, maximizing resource utilization in the context of dwindling ore reserves.

During the period 2026-2030, the unit plans to allocate approximately 100 billion VND to science and technology, with tens of billions of VND specifically dedicated to research on the reprocessing of tailings in waste ponds and the enrichment of type IV ore.

If Vietnam Apatite Company Limited is the source of raw materials, then Lao Cai Power Company (PC Lao Cai) plays the role of building the "lifeline" of the infrastructure.

With the motto of "electricity leads the way," the power sector doesn't wait for projects to come before investing, but proactively follows the planning to create infrastructure. Mr. Nguyen Anh Tuan - Director of Lao Cai Power Company said: "The unit focuses on three pillars: investing in leading infrastructure; developing a smart grid; and reforming procedures for accessing electricity."

During the 2024-2025 period, the electricity sector invested over 913 billion VND in infrastructure. The commissioning of the 110 kV Bao Hung substation in March 2026 has provided timely energy for the new industrial parks of Viglacera Corporation and the Tran Yen Industrial Park.

Currently, four other 110 kV substations in Au Lau, Ban Qua, and Bac Ha are being implemented to be ready to supply electricity to the industrial zones and clusters that are scheduled to be established in 2027.

Smart Grid technology is also changing the operational landscape of the Lao Cai power grid. Currently, 14 out of 16 110 kV substations are operating unmanned. The establishment of 41 automated circuits (DAS) allows the system to automatically detect and eliminate fault points and switch to the most optimal power supply method. For private businesses in industrial zones, this is a "vital factor" in protecting modern production lines that are highly sensitive to power outages.

Along with the power sector, state-owned telecommunications companies such as Viettel and VNPT are also striving to build digital platforms, bringing remote border regions closer to the world through modern connectivity systems. The presence of these entities in difficult areas is not simply a matter of profit, but a mission to support the development of the digital economy and digital society.

However, in order for the state-owned economy to truly be a strategic driving force, Lao Cai is also resolutely addressing internal bottlenecks. These include the inefficient operation of some enterprises. The provincial finance sector has advised on solutions to definitively resolve outstanding debts, review divestment in inefficient non-core investments, and accelerate the restructuring of units to streamline operations.

In 2026, despite facing numerous challenges such as dwindling resources and volatile markets, the goals set by state-owned enterprises remain very ambitious.

Vietnam Apatite Company Limited aims to achieve revenue of approximately VND 3,311 billion and contribute VND 324 billion to the state budget; the electricity sector continues its plan to invest approximately VND 535 billion in infrastructure in 2026 to maintain a stable power supply for economic development.

The shift from "substituting for others" to "creating" is shaping the new face of Lao Cai's economy. There, state-owned enterprises are using public resources to facilitate private investment flows, creating a sustainable ecosystem. When the state-owned economy creates a solid ecosystem, other economic sectors gain the best "launchpad" to thrive, contributing to making Lao Cai an important growth hub in the Northern Midlands and Mountains region.

Final article: Linking economic efficiency with national welfare and sovereignty goals.

Source: https://baolaocai.vn/bai-1-kinh-te-nha-nuoc-kien-tao-he-sinh-thai-post900152.html