The appeal of a favorable investment environment

Lao Cai is proving its position as the most attractive destination in the Northwest region. The approval of 49 new investment projects in just 11 months of 2025, with a total capital equivalent to nearly 17,000 billion VND; and 67 active FDI projects with registered capital exceeding 1 billion USD... are the clearest evidence of efforts to change management thinking. This is the tangible result of a well-planned investment attraction strategy: decisive leadership, streamlined procedures, and pre-investment in infrastructure.

This represents a significant shift in the quality of capital flows. Previously, investment in Lao Cai mainly consisted of small-scale projects or mineral exploitation, but now, the investment portfolio includes large-scale projects capable of transforming the local landscape.

Most notably, the groundbreaking ceremony for the investment, construction, and operation of infrastructure in the Tran Yen Industrial Park took place in July 2025. The project, invested by Viglacera Corporation – a leading enterprise in Vietnam's industrial real estate sector – covers an area of over 254 hectares with a total investment of over 2,184 billion VND in Phase I.

The industrial park is well-planned in terms of electricity, water, and wastewater treatment, and is located near the Noi Bai - Lao Cai expressway and the soon-to-be-constructed railway line, promising to create tens of thousands of jobs and boost the economy of the southern region of the province.

Besides industry, the tourism and service sector has also witnessed very large-scale projects. Provincial leaders have directly inspected and supervised the progress of the Muong Hoa Cultural Park project, which covers 83 hectares and has a total investment of over 22,000 billion VND.

Investors such as Sun Group, Vin Group, T&T, Becamex, Alphanam, etc., are also increasingly present, actively researching and implementing important projects.

To achieve the positive results mentioned above, Lao Cai province has drastically changed its management methods. The biggest change lies in shifting from the old, passive approach to a proactive, service-oriented one, and especially in moving from checking documents before granting licenses to monitoring the operational process after licensing.

The province is committed to creating favorable conditions for investors to enter the market as quickly as possible. This is a key factor in attracting capital.

The decisiveness was not limited to written documents; it was also demonstrated through the actions of the leader. In October and November, Provincial Party Secretary Trinh Viet Hung, along with other members of the Provincial Party Standing Committee, conducted on-site surveys in key economic areas such as the Sa Pa National Tourist Area, the Tang Loong Industrial Zone, and urban development projects in the North.

These on-site surveys are not merely ceremonial but aim to directly listen to and resolve difficulties for investors right at the construction site. A spirit of proactive action has spread from the highest leadership down to every official and employee.

One of the key solutions to help Lao Cai attract investment is to fully exploit its unique geographical location: a bridge between the Vietnamese and ASEAN markets and the vast southwestern region of China.

The 25th Vietnam-China International Trade Fair (Lao Cai) recently concluded is clear evidence of this position. Beyond just exhibition booths, the fair witnessed the signing of 16 economic contracts totaling up to 330 million USD. Lao Cai has proactively implemented various technical solutions to facilitate the smooth flow of goods.

A prime example is the establishment of a priority process at the Kim Thanh (Vietnam) - Bac Son (China) border gate, which has helped to achieve a total customs clearance volume of approximately 10 million tons. Lao Cai's proposals, such as extending customs clearance hours during the day, establishing a cross-border economic cooperation zone, and developing smart transportation services, have all received strong support from Yunnan province (China).

Despite the very positive investment outlook, provincial leaders and the business community frankly acknowledge the obstacles that still need to be addressed.

According to Mr. Nguyen Huy Long, Chairman of the Provincial Business Association, the business community still desires more transparent support mechanisms, especially in accessing clean land and transportation infrastructure, requiring more decisive involvement from all levels of government.

In response to these expectations, the Standing Committee of the Provincial Party Committee issued a conclusion requesting the acceleration of the adjustment of the Lao Cai Provincial Planning for the period 2021-2030, with a vision to 2050.

The detailed planning of industrial parks and economic zones is a top priority so that investors can see a clear overall plan before deciding to invest. The province is also developing a scientifically planned list of investment projects for the 2026-2030 period, focusing on investors with strong financial capabilities, advanced technology, and environmentally friendly practices.

This success stems from the province's ability to harmoniously address the challenge of both leveraging its existing gateway advantages and striving to improve the internal business environment. Through an open mindset, decisive leadership, and a strategic infrastructure development plan, Lao Cai is gradually realizing its goal of becoming the economic hub of the Northern Midlands and Mountainous region.

With this growth momentum, the Lao Cai border is no longer a dividing line, but has truly become a bridge and a driving force for overall development.

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