Create an environment to attract investment in off-budget projects

To achieve the target of 8% GRDP growth in 2025, Son La province focuses on attracting investment in non-budgetary projects, accompanying and supporting investors and identifying these projects as one of the key driving forces.

The Nordic Village tourist area - Nordic space, Van Ho commune.

The province currently has 3,942 operating enterprises with a total registered capital of over VND70,733 billion. In the past 6 months, the province approved 14 new non-budget investment projects with a total capital of nearly VND10,000 billion; adjusted 15 projects, increasing capital by nearly VND1,000 billion. The projects focus on agricultural processing, construction materials, industrial park infrastructure, and renewable energy in line with the orientation of green and sustainable development.

The project "Preservation, processing and production of agricultural products" invested by Musa Green Joint Stock Company in Muong Bu commune is being accelerated, with a total capital of 15 billion VND, a scale of more than 18,000 m², the goal is to produce 1 million m³ of banana fiber, process 4,000 - 6,000 tons of agricultural products per year, and a revenue of about 20 billion VND/year. Mr. Nguyen Van Tien, Director of the Company, said: With legal support from the province and local authorities, the unit is currently assembling the production line, testing it, and striving to operate in the fourth quarter of 2025. When operating, the factory will consume about 200 hectares of bananas, creating regular jobs for 40 local workers.

At Mai Son Industrial Park, VFI Investment Trading Production Joint Stock Company is implementing an instant cereal and dried fruit factory with an investment capital of VND70 billion and a capacity of 4,120 tons/year. Mr. Le Toan Thang, Factory Director, said: The project started on March 18, 2025 and is expected to be completed and put into operation from September 15, 2025. The company hopes that the province will support the connection of raw material areas and facilitate procedures to ensure long-term investment.

With the efforts of local Party committees and authorities, in the first 6 months of 2025, the province's GRDP reached 16,541 billion VND (at 2010 comparative prices), an increase of 8.76%; state budget revenue reached about 2,432 billion VND, equal to 58.7% of the central budget estimate, 54% of the provincial People's Council's estimate and an increase of 173.34% over the same period. Mr. Nguyen Minh Tien, Director of the provincial Department of Finance, said: In the context of limited budget, attracting private investment is the key driving force. The province is reviewing the planning, publicizing the list of key projects and establishing working groups for each project to promptly remove obstacles.

In addition, the province focuses on administrative reform, building e-government, shortening the time to process documents, creating a transparent and friendly investment environment. Non-budgetary projects are mainly in the fields of agricultural processing, urban infrastructure, eco-tourism and renewable energy, suitable for local potential. However, attracting investment is still difficult due to weak transport and logistics infrastructure; complex terrain, far from economic centers, increasing transportation costs, reducing competitiveness; lack of human resources and vocational training not close to reality; many projects are slow to implement despite investment decisions, affecting trust and land use efficiency.

Mr. Nguyen Quoc Khanh, Chairman of the Provincial Business Association, said: The private economy contributes greatly to GRDP, the budget and creates jobs for over 100,000 workers. However, most businesses are small, with little capital, mainly operating in construction, services, tourism, facing difficulties in accessing capital, land, technology and markets. The Association has recommended that the province specify policies to support small and medium enterprises; improve access to resources; promote training, market promotion, and digital transformation. At the same time, it proposed to cut 30% of administrative procedure time and costs; abolish 30% of unnecessary business conditions; and switch from "pre-inspection" to "post-inspection". The Association also suggested that the province maintain regular dialogues with businesses, ensuring full and timely feedback; recommend the State Bank to reduce counterpart capital to 15%, and raise the loan ratio to 85%.

According to the plan, in the third and fourth quarters of 2025, the province will focus on accelerating the progress of public investment projects, especially inter-regional infrastructure, such as the Hoa Binh - Moc Chau expressway; the route connecting National Highway 37 with 279D; resolutely handling slow-progressing and ineffective projects. In 2025, strive to complete the Moc Chau Tea Factory, with a processing capacity of 125 tons/day and the 4,000-cow dairy farm, promoting local socio-economic development.

The province is developing a medium-term public investment plan for the 2026-2030 period, focusing on selecting key projects. At the same time, it is proposing to amend legal regulations to facilitate investors, especially in terms of procedures, decentralization, and site clearance. Continue to improve infrastructure, institutions, and the investment environment and accompany businesses. Focus on digital transformation and online public services at a high level, contributing to information transparency, cost savings, etc., improving management efficiency, attracting non-budgetary investment, contributing to promoting short-term growth and creating a foundation for Son La to develop into a center for commodity agriculture and processing industry.

Source: https://baosonla.vn/kinh-te/tao-moi-truong-thu-hut-dau-tu-cac-du-an-ngoai-ngan-sach-FxyomK8Hg.html