4 projects with total capital of more than 2,000 billion 'poured' into Lai Chau

TPO - On October 13, at the 2024 Investment Promotion Conference, Lai Chau Provincial People's Committee awarded investment policy decisions to 4 projects, with a total capital of more than 2,000 billion VND.

Lots of potential

Chairman of Lai Chau Provincial People's Committee Le Van Luong said that Lai Chau is a province with potential to develop sectors and fields such as agriculture and forestry; tourism, trade, services; industry - construction.

With agricultural land accounting for 71%, Lai Chau has great potential for developing key crops (specialty rice, tea, rubber, cinnamon, macadamia) and rare medicinal herbs (Lai Chau ginseng, dodder seed, seven-leaf flower, cardamom).

Lai Chau has 7/10 highest mountains in Vietnam, with primeval forests and unique cultures of 20 ethnic groups, creating the premise for tourism development.

In particular, with a dense river and stream system, steep slopes, and many rare minerals, Lai Chau has the conditions for investors and businesses to develop the hydropower industry, and mineral exploitation and processing.

After 20 years of construction and development, many socio-economic indicators of Lai Chau province have improved. The average growth rate reached over 9%/year; the poverty rate decreased by an average of 5%/year; the local budget revenue increased 70 times. The investment and business environment has been increasingly improved. The Provincial Competitiveness Index (PCI) in 2023 ranked 35/63 provinces and cities, up 27 places compared to 2018.

Accompanying investors

Speaking at the conference, Mr. Hoang Quang Phong - Vice President of the Vietnam Federation of Commerce and Industry - emphasized that Lai Chau's efforts have borne fruit, the province's competitiveness has increased to the middle of the country. Through the time of visiting and working in Lai Chau, it shows that Lai Chau is ready to welcome investors and take responsibility for the success and development of investors and businesses.

The Vice President of the Vietnam Federation of Commerce and Industry hopes that in the coming time, Lai Chau will continue to accompany businesses to handle problems arising in cooperative relations. Businesses and entrepreneurs will continue to accompany the leaders and people of Lai Chau province, fulfilling their commitments to the province and its people.

Standing Deputy Secretary of Lai Chau Provincial Party Committee Vu Manh Ha and Chairman of Lai Chau Provincial People's Committee Le Van Luong presented the investment policy decision to the investor.

Closing the conference, Chairman of Lai Chau Provincial People's Committee Le Van Luong affirmed that Lai Chau is committed to creating an equal, favorable, practical, effective and fast investment environment. The province turns its potentials and advantages into concrete and practical results; seriously implements preferential and support policies for investors in the process of studying, researching and implementing projects in the province with the motto "Businesses prosper - Lai Chau develops".

At the conference, Lai Chau Provincial People's Committee granted investment policy decisions to 4 projects with a total capital of over 2,000 billion VND; granted certificates of Lai Chau ginseng growing facility codes to 2 units; signed memorandums of understanding on cooperation with 12 investors in the fields of real estate, tourism, fruit trees, and medicinal herbs with an investment scale of over 3,000 billion VND.

Dinh Thuy

Source: https://tienphong.vn/4-du-an-tong-von-hon-2000-ty-rot-vao-lai-chau-post1681996.tpo