Lao Cai promotes investment attraction

This is a garment export production project with a total investment of 99 billion VND in Dong Pho Moi Industrial Park. The project started construction in June 2024 and is expected to be operational in the second quarter of 2025, half a year earlier than planned. From investment preparation to project construction, everything happened very quickly, with the maximum support of the Lao Cai Provincial Economic Zone Management Board.

Garment export production project with total investment of 99 billion VND.

Mr. Hoang Van Vi, Deputy Director of Koria-Vina Garment Factory Project shared: “ Lao Cai has a very favorable mechanism for expansion and investment attraction. Enterprises are given the best possible conditions by the province and the Economic Zone Management Board in the shortest possible time. The policy mechanism and labor force are cheaper than down there.”

The social housing project in Van Hoa commune, Lao Cai city, the entire cleared land on a scale of more than 1.6 hectares has been handed over to investors since the beginning of this year. It is expected that by the end of the year, 765 apartments will be opened for sale, promising to create great attraction for low-income people to access social housing.

Social housing project in Van Hoa commune, Lao Cai city.

Mr. Nguyen Van Ha, Director of the Van Hoa Social Housing Project, Lao Cai City, shared: “After researching in Lao Cai and participating in investment promotion, our company decided to invest in construction in Lao Cai province. The company was supported in legal procedures and land to facilitate the implementation process.”

Shortening the time for approving investment policies, administrative procedures, removing bottlenecks in terms of land, building preferential policies on taxes, land, etc. These are the efforts of Lao Cai to attract more investors to industrial parks, clusters and localities in the province. "Attracting investment focuses on a number of fields, agriculture, forestry, infrastructure. This is new, attracting here will attract economic development of the province, there is also very good coordination from detailed planning to site clearance to handling administrative procedures, land, urban areas", said Mr. Phan Trung Ba, Director of the Department of Planning and Investment of Lao Cai province.

Instead of waiting for investors to come, Lao Cai is proactively seeking large corporations and enterprises to invest in potential and strong areas. Along with that, a series of investment promotion activities are continuously organized both inside and outside the province, creating a positive effect to make Lao Cai a successful destination for the business community.

Trung Kien - Xuan Anh

Source: http://laocaitv.vn/chinh-tri-xa-hoi/lao-cai-day-manh-thu-hut-dau-tu