Lao Cai business development

Lao Cai always creates open mechanisms, creating all conditions for businesses to develop. With the motto "Businesses prosper, Lao Cai develops", local private businesses, which are on the rise, will have the opportunity to break through.

When Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development (referred to as Resolution 68) was issued, the private economic sector was identified as one of the most important driving forces of the national economy.

For Lao Cai, this is even more meaningful as the province strives to become a growth pole, a center for international economic trade connections, developing in the direction of “green, harmony, identity, happiness”, focusing on four main pillars: industry, tourism, border gate economy and agriculture - forestry. The private economy, with private enterprises as the core, is being given opportunities and resources to lead the economy and promote growth.

According to Mr. Nguyen Huy Long - Chairman of Lao Cai Province Business Association: The whole province currently has over 10,000 registered businesses, creating jobs for over 60,000 workers and contributing over 65% of the total local budget revenue.

This is the main force in the socio-economic development of the province, especially in key economic sectors such as: mining, construction, logistics, tourism, high-tech agriculture and import-export.

In addition, Lao Cai Enterprises also contribute to social security programs, new rural construction, support to overcome the consequences of natural disasters, eliminate temporary housing, and care for the poor. ...

In addition to large enterprises, the private economic sector of Lao Cai province also has tens of thousands of small and medium enterprises, along with hundreds of thousands of individual business households operating in the fields of: trade, services, agriculture, processing, construction...

The dynamism of Lao Cai's private economy has contributed to diversifying the economy, creating jobs for hundreds of thousands of workers, and increasing people's income, especially in rural areas.

Along with Resolution 68 of the Central Committee, the 1st Congress of Lao Cai Provincial Party Committee, term 2025 - 2030, identified 3 breakthroughs to ensure the goal of sustainable development and improve people's lives.

Firstly , it is necessary to make a strong breakthrough in development mechanisms and policies, to open up, liberate, and mobilize all resources to focus on prioritizing the development of the four economic pillars. Build unique and outstanding mechanisms and policies to attract strategic investors to promote breakthroughs in science, technology, innovation, and digital transformation to serve and create development. At the same time, promote decentralization, delegation, and authorization in the direction of empowering grassroots levels and leaders to enhance autonomy and self-responsibility in the direction of local decisions, local actions, and local responsibilities. Create the most favorable production and business environment for enterprises to promote private economic development, build a startup ecosystem, new production and business models and methods with the motto "Enterprises prosper, Lao Cai develops".

The second is a breakthrough in developing high-quality human resources, promoting the attraction and use of talents. Strongly innovate personnel work, focus on building a team of leaders at all levels, commune-level officials with expertise, skills, thinking, prestige, and equal to the task. Attract and create a breakthrough in the quantity and quality of human resources in the non-state sector; build a strong team of enterprises and entrepreneurs in production, processing, trade, and services; attract experts and scientists to serve innovation, digital transformation, green economy, and circular economy in areas where Lao Cai has advantages.

Third is a breakthrough in investment in building synchronous and modern socio-economic infrastructure with connectivity; focusing on building inter-regional and international, multi-modal transport infrastructure, developing infrastructure for border economic zones, border free economic cooperation zones, modern logistics centers, industrial park infrastructure, industrial clusters, tourism infrastructure, urban chains along the Red River dynamic axis and technological infrastructure serving the management and administration of sustainable socio-economic development, digital transformation, green development, energy conversion, and adaptation to climate change.

The synchronous implementation of three strategic breakthroughs will remove bottlenecks, open up new development momentum, and create a solid foundation for Lao Cai to make a breakthrough in the 2025-2030 period and the following periods. Enterprises in general and private enterprises in particular need to seize this opportunity to join the general flow of the whole province, increase investment, and promote production.

Mr. Nguyen Van Son - Director of Son Lan Lao Cai Company Limited, an enterprise awarded the title of Vietnam Golden Star in 2024, said: Resolution 68, in addition to correctly recognizing the role of the private economy, also sets out policies to support the development of the private economy, from mechanisms to policies... I think that Resolution 68 is a driving force for the business community to rise strongly and contribute more to the development of the country.

“In the process of establishing the business, in addition to the business tax exemption policy, I also received enthusiastic support from the Yen Bai ward government, the Economic Department, and the Tax officers of Region 6. This helped me feel more confident in my business process,” said Mr. Nguyen Xuan Nghi, Yen Bai ward.

The statements of businessman Nguyen Van Son - a successful business owner, or Mr. Nguyen Xuan Nghi - a new entrepreneur show that Resolution 68 has created a big boost for the business community.

By the end of August 2025, the whole province had 840 newly registered enterprises and 480 branches, an increase of 15% over the same period last year. In August alone, the whole province granted new registration certificates to 195 enterprises and 64 branches, an increase of 15.5% over the same period, with a total registered capital of more than VND 1,070 billion.

New businesses focus on agriculture, trade, services, tourism and construction. The above results show that support policies have been effective, creating momentum for increasing the number of newly established businesses as well as encouraging businesses to return to operation after a period of suspension.

Enterprises and entrepreneurs are those who dare to think, dare to do, face challenges, directly create material wealth for society and create jobs for workers... In the current period, Lao Cai enterprises will continue to innovate, strengthen digital transformation, apply science and technology, improve productivity, quality, and efficiency of production and business activities; create jobs, improve income and life for workers; build an increasingly strong business community, actively carry out social security work, contributing to the overall development of the province.

Source: https://baolaocai.vn/doanh-nghiep-phat-tai-lao-cai-phat-trien-post884403.html