Lai Chau: Attracting investment in the industrial sector to promote potential and advantages

According to the Director of the Department of Industry and Trade of Lai Chau province, to increase the value of agricultural and forestry products, it is necessary to attract investment and develop the processing industry.

Recently, Lai Chau province held the 2024 Investment Promotion Conference. At the conference, Lai Chau province granted investment approval decisions to 4 enterprises with an investment capital of more than 2,000 billion VND. Notably, most of this figure is attracted to hydropower projects. Specifically, the La Si 1A hydropower project has a capacity of 28MW, a total investment of 1,050 billion VND for ES-LC Energy Joint Stock Company; Nam Nga Hydropower has a capacity of 24MW, a total investment of nearly 970 billion VND for Nam Nga Hydropower Company Limited. The remaining capital is attracted to afforestation, tourism , agriculture and forestry projects, etc.

Lai Chau province promotes its potential and attracts hydropower development. Photo: BXD

It can be said that, promoting strengths, in recent years, Lai Chau province in general and Lai Chau industry and trade sector have taken advantage of terrain advantages with rivers, streams, slopes... to attract development of hydropower industry. Hydropower projects in Lai Chau have been promoting good efficiency after investment , contributing part of electricity output to the national grid, making an important contribution to ensuring energy security, increasing industrial production value... promoting economic development. Regarding hydropower planning, Lai Chau province's planning for the period 2021 - 2030, with a vision to 2050, has been approved by the Prime Minister, including 160 hydropower projects approved by the Ministry of Industry and Trade with a total capacity of 4,271.35MW, average annual electricity output of 15.6 billion kWh. It can be said that hydropower projects in Lai Chau are promoting good efficiency, contributing to generating revenue, increasing industrial production value, creating jobs and stable income for workers, and reducing poverty for local people. On the other hand, this project has mobilized private investment capital, thereby reducing investment capital from the state budget for ensuring energy security...

Mr. Vuong The Man - Director of the Department of Industry and Trade of Lai Chau province. Photo: Minh Thu

Returning to the story of attracting investment in the industrial sector of Lai Chau province, it can be said that apart from hydropower, other industrial sectors are still quite modest, not commensurate with the potential... However, at the recently held 2024 Investment Promotion Conference, there were more positive signals. There were 12 memorandums of understanding on investment cooperation and investment memorandums signed between Lai Chau Provincial People's Committee and a number of investors in the fields of: Real estate, tourism, medicinal herbs, agricultural and forestry product processing, product consumption with an investment scale of over 3,000 billion VND. In addition, Lai Chau Provincial People's Committee announced more than 60 lists of projects calling for investment in the fields of: Agriculture - forestry, tourism and trade - services. Notably, there are many projects associated with the industrial and commercial sectors such as tea growing and production areas in Tan Uyen and Tam Duong districts; vegetable and fruit processing factory for export in Than Uyen district; Tam Duong supermarket and commercial center. It can be said that projects related to agricultural and forestry processing industry are receiving attention from Lai Chau province, promoting investment attraction...

Lai Chau promotes investment attraction and development of processing industry. Photo: CTTĐTLC

Talking to reporters of the Industry and Trade Newspaper, Mr. Vuong The Man - Director of the Department of Industry and Trade of Lai Chau province shared information and plans of the industry to promote investment attraction for industrial development associated with local economic development. Mr. Vuong The Man analyzed that Lai Chau has great agricultural potential, but in essence this is also the potential of the processing industry, because agricultural products are the initial raw materials, input materials. Agricultural products must be processed and deeply processed when brought to the market to bring product value, increase production value and income for farmers. After forming an agricultural and forestry production area, the responsibility of the Industry and Trade sector is very important in creating products associated with processing and bringing them to the market. The Industry and Trade sector determined to do it step by step so that Lai Chau has quality products... First will be small products, OCOP products, in the long term will develop large-scale goods. The Industry and Trade sector is responsible for connecting with businesses in production, processing, forming product lines, and diversifying product types to meet consumer tastes. Along with production and processing, it is necessary to connect with distribution businesses, bringing products to domestic and international markets to enhance and promote the value of goods.

Currently, Lai Chau province has produced and built brands for a number of agricultural and forestry products. Photo: Minh Thu

In the immediate future, to overcome Lai Chau's difficulties in industrial development such as terrain, traffic, large area, and difficulty in product collection, the Ministry of Industry and Trade will promote industrial promotion activities to bring industry to remote areas. The role of industrial promotion needs to be promoted, closely following production areas, initially linking processing industry with raw material areas to increase value. Lai Chau will consider bringing machinery to on-site production, mechanization, reducing the load on transportation, and increasing productivity. Concentrated agriculture is associated with the development of industrial production, processing industry, etc.

Mr. Vuong The Man - Director of the Department of Industry and Trade of Lai Chau province said that in the coming time, Lai Chau province will closely follow and join the trend of opening and integration to attract investment and develop the industrial sector, promote attracting enterprises to deeply process local products with strengths, attract and develop distribution enterprises...

Minh Thu

Source: https://congthuong.vn/lai-chau-thu-hut-dau-tu-linh-vuc-cong-nghiep-de-phat-huy-tiem-nang-loi-the-354319.html