Welcome investors in new development space

Within the framework of the 25th Vietnam - China International Trade Fair (Lao Cai), many investment promotion and economic cooperation activities took place, including introducing mechanisms, policies and investment attraction projects; introducing import-export policies and mechanisms combined with trade between Vietnamese and Chinese enterprises; economic and trade cooperation talks between Lao Cai province (Vietnam) and Yunnan province (China)...

At these events, Lao Cai province conveyed the message of welcoming investors in a new development space, large scale, high competitiveness, safe and transparent business environment and strong regional connectivity.

Many mechanisms and preferential policies for businesses

After the merger, Lao Cai province has an area of ​​over 13,200 km², a population of nearly 1.8 million people, and a new, larger development space. Recognizing its opportunities and potential advantages, Lao Cai province has been focusing on perfecting mechanisms and policies; high-quality human resources; building a synchronous, modern, and interconnected socio-economic infrastructure. With its potential, advantages, and open policies, Lao Cai is ready to welcome investors to cooperate, accompany and succeed.

Businesses and investors visit product display booths at the fair.

According to the list of investment incentive areas, Lao Cai province currently has 61 communes and wards identified as areas with particularly difficult socio-economic conditions; 34 communes and wards with difficult socio-economic conditions are entitled to investment incentives. Lao Cai border gate economic zone is entitled to incentives corresponding to areas with particularly difficult socio-economic conditions.

Industrial parks located outside Lao Cai Border Gate Economic Zone such as Southern Industrial Park, Minh Quan Industrial Park, Au Lau Industrial Park, Tran Yen Industrial Park, Tang Loong Industrial Park, enjoy incentives corresponding to areas with difficult socio-economic conditions.

Businesses exchange and seek cooperation opportunities.

Lao Cai province has also issued a list of 39 industries with special investment incentives and 70 industries with investment incentives in key areas including high technology, information technology, supporting industry; agriculture ; environmental protection, infrastructure construction; education, culture, society, sports, health; science and technology, electronics, mechanics, and materials production.

Regarding corporate income tax incentives, according to regulations, projects in economic zones enjoy a preferential tax rate of 10% for 15 years; exemption for 4 years, and a 50% reduction for the next 9 years. In industrial zones (outside economic zones) identified as preferential investment areas, enterprises enjoy policies applied to areas with difficult socio-economic conditions, including a tax rate of 17% for 10 years, exemption for 2 years, and reduction for the next 4 years.

Investing in Lao Cai, businesses are also exempted from import tax to create fixed assets under investment incentives.

In addition to tax policies, Lao Cai province also has many forms of investment support such as support for the development of technical infrastructure systems and social infrastructure inside and outside the project fence; support for training and human resource development; credit support; support for science, technology, technology transfer...

Enterprises from An Giang province introduce products on the sidelines of activities at the fair.

Mr. Vu Lan - Deputy Director of the Department of Finance said: With the spirit of "Prosperous enterprises - Lao Cai development", considering the success of investors as the success of the province, Lao Cai always accompanies investors in researching, surveying, implementing projects, ensuring effective production and business activities in the province.

The province also strengthens decentralization, delegation of authority, and authorization; thoroughly cuts down on investment, production, and business conditions and procedures; applies incentive mechanisms and policies to support investment on the principle that investors enjoy the highest level of incentives according to regulations; resolutely implements the 5 no 's: "No delays; no causing trouble or harassment; no creating barriers or overlapping in performing tasks; no shirking responsibility or evasion; no creating inequality among enterprises".

Strengthening cooperation for common development

According to the orientation of the Politburo and the Government, Lao Cai is determined to become "The center of economic trade connection between Vietnam and ASEAN countries with the Southwest region - China" . Not only a border province, Lao Cai is building a solid "bridge", forming "a dynamic economic zone" on the economic corridor of Kunming - Lao Cai - Hanoi - Hai Phong. The strategic vision of Lao Cai province is to build the Lao Cai - Hekou Cross-Border Cooperation Zone into an outstanding model of institutional cooperation, bringing benefits to both sides.

Lao Cai business community actively participates in activities within the framework of the fair.

To realize this vision, in addition to implementing the common import-export policy, Lao Cai commits to closely coordinate with Chau Hong Ha and Yunnan province to continue reforming border gate procedures; promoting the development of the "smart border gate" model, applying digital technology to optimize processes and shorten customs clearance time.

The province also calls for and creates the most favorable conditions for investors, especially Chinese enterprises, to invest in industrial parks, logistics zones, processing centers, warehouses... right at Lao Cai Border Gate Economic Zone, thereby developing the supply chain and increasing the added value of goods.

Mr. Hoang Chi Hien - Director of the Department of Industry and Trade said that the department is committed to accompanying businesses, proactively removing all difficulties and obstacles; ensuring an open, transparent and stable investment and business environment.

The Vietnam - China International Trade Fair goes beyond the framework of a trade promotion event, becoming a comprehensive cooperation forum.

The exciting activities within the framework of the 25th Vietnam - China International Trade Fair (Lao Cai) were organized in the spirit of cooperation and sharing, achieving practical results and enhancing mutual understanding. This event is not only an annual trade promotion activity of the border area but also a forum for comprehensive cooperation in economics, trade, investment, tourism and people-to-people exchange between localities of the two countries; creating an important opportunity to introduce economic and investment potential, helping businesses of both sides meet partners, seek investment and business opportunities for mutual benefit and development.

Source: https://baolaocai.vn/chao-don-cac-nha-dau-tu-trong-khong-gian-phat-trien-moi-post887318.html