Lao Cai province: ASEAN-China gateway

Mr. Trinh Xuan Truong- Chairman of Lao Cai Provincial People's Committee

"Enterprises thrive, Lao Cai province develops" is the goal and also the desire of the provincial authorities at all levels with businesses and investors coming to do business in Lao Cai province.

- In your opinion, what are the advantages of Lao Cai province in attracting investment?

First, Lao Cai province that is located in the center of the Northern midlands and mountainous region, and at the same time the central province of the border of provinces with Yunnan (China) with the position of the gateway, the outpost of the northern border, plays an important role in socio-economic development, national defense and security.

Amidst international economic integration, Lao Cai is an important transshipment center on the Kunming - Lao Cai - Hanoi - Hai Phong - Quang Ninh economic corridor and is a bridge not only for Vietnam but also ASEAN countries with China's large southwestern market- an important connection of the North-South corridor in the cooperation of countries in the Greater Mekong Sub-region (GMS).

Second, Lao Cai has many advantages for tourism development associated with the development of the region and the whole country. Especially, Sa Pa will develop into an international tourist area with many unique tourism products: ecotourism, resort, culture, spirituality...

Third, Lao Cai is a province rich in mineral resources, with over 35 different types of minerals at over 150 mines of industrial value. The river and stream system with sloping terrain creates advantages for Lao Cai in developing small and medium hydropower plants with a total capacity of over 1,000 MW.

Fourth, Hoang Lien Son mountain range is a biosphere and aquatic life reserve of many big rivers (Red river, Da river); Hoang Lien National Park is recognized as ASEAN Heritage Park, with many kinds of precious flora and fauna.

Fifth, Lao Cai has favorable traffic conditions with all kinds of important connections with regional and international provinces, such as Road (National Highways No 70, 4D, 4E, 279, Noi Bai - Lao Cai expressway); Hai Phong - Hanoi - Lao Cai railway connecting with Kunming, China; Waterways with the Red River as a main river of the Northern Midlands and Mountainous region flowing into the sea). The airline route with Sa Pa airport of 4C scale is going to be set up.

With these special advantages, Lao Cai will become a good place for investors and businesses to invest and develop production and business.

- Apart from natural advantages, what has helped Lao Cai province get the actual achievements, sir?

Over the past time, provincial leaders have always striven for a goal of turning Lao Cai into a "trading gateway". In particular, administrative reform, business environment improvement, enhancing competitiveness, and creating favorable conditions for businesses are the cross-cutting targets as set forth by the Resolution of the 16th Provincial Party Congress of the term 2020 - 2025.

Lao Cai has tried to synchronously implement drastic solutions towards a friendly, safe, open, and transparent investment environment, and to develop favorable policies for enterprises so as to mobilize domestic and foreign resources for development and investment, serving the goal of rapid and sustainable economic growth.

In which, the most important is the radical and substantive transformation of the working style from "management" to "serving" people and businesses. Lao Cai has striven to maintain the province's PCI index in the Top 10 nationwide for the 2021 - 2025 period.

Northwest highland market

- What is the direction of Lao Cai in the coming period to turn Lao Cai into a gateway to ASEAN, sir?

The Resolution of the 16th Lao Cai Provincial Party Congress has set the goal of building Lao Cai into a bridge for foreign trade between Vietnam, ASEAN countries, and the Southwest – China. By 2025, Lao Cai will continue to be a developed province of the Northern Midlands and Mountains. By 2030, Lao Cai will become a good province of the whole country.

To achieve this goal, Lao Cai province has been implementing synchronous solutions, especially focusing on "breakthrough" development of transport and urban infrastructure, creating a foundation for attracting investment capital.

Lao Cai also focuses on urban development to create momentum and spread in inclusive development, especially organizing the urban network in the direction of building smart cities in Lao Cai city and Sa Pa town, while developing Lao Cai city into a grade I urban area, a central urban area in Northwest Vietnam, an urban area bordering Vietnam - China, an important bridge of the Kunming (China) economic corridor with Lao Cai - Hanoi - Hai Phong, which is an important connection point in tourism cooperation of 3 provinces Lao Cai, Yen Bai, Phu Tho and the expanded Northwest tourism...

- What sectors and projects will Lao Cai pay priority to in the coming time, sir?

Lao Cai will pay priority to large-scale projects with positive spillover effects on socio-economic development, while encouraging the development of small and medium enterprises, and creating a healthy competitive environment.

The province also encourages and calls on businesses to invest in high-tech, deep processing, supporting industries, industries that need to use a lot of local workers...

In particular, in the field of transportation, Lao Cai will focus on inter-regional projects, especially the provinces in the urban region; routes to create new development space; routes connecting with the region, provinces that have positive impacts on local socio-economic development such as Yen Bai, Lai Chau, Ha Giang...

Thank you very much!

The average economic growth rate of Lao Cai reached 10.4%/year in the period 1991 - 2020. GRDP per capita in 2020 hit VND 77.87 million. Lao Cai got rapid economic restructuring and a decreasing proportion of the agricultural economy. Lao Cai’s State budget revenue in 2020 reached VND 9,089 billion (478 times higher than in 1991). Lao Cai is one of the few provinces that successfully built Lao Cai - Cam Duong new administrative urban area as a product of vision and creativity…

Lao Cai’s administrative reform and investment environment improvement are always at the top of the list of provinces/cities around the country, as reflected in the PCI, ICT, PAPI... Lao Cai’s external relations gained many results, positively contributing to socio-economic development, firmly defending national sovereignty, building a border of peace, friendship, and development cooperation, building a long-standing traditional friendship with Yunnan Province - China...