Meet up 2025: Lao Cai emerges as a hub for trade and investment connectivity between Vietnam, ASEAN and Southwest China

With a wealth of potential and advantages, as well as a strategically significant location in politics, economy, the military, and international relations, Lao Cai Province is well-positioned to become a hub for trade and economic connectivity.

Spreading potentials and advantages

The event is expected to bring together around 250 delegates, including representatives from diplomatic agencies, international organizations, promotion agencies, foreign business associations in Vietnam, leaders from various provinces and cities, Vietnamese industry associations, as well as promotion organizations and business associations from Southwest China.

Previously, to promote investment attraction and support startup activities in Lao Cai Province, on March 28, 2024, VCCI and the People’s Committee of Lao Cai Province organized a signing ceremony for a Memorandum of Understanding on cooperation for the 2024–2029 period.

Speaking at the ceremony, VCCI President Pham Tan Cong noted that Resolution No. 41-NQ/TW of the Politburo on building and promoting the role of the business community in the new era was issued on October 10, 2023. The Government is currently drafting an Action Program to implement Resolution No. 41-NQ/TW and consulting with VCCI on this program. Several localities have actively developed and issued their own Action Plans to realize the Resolution.

According to VCCI President Pham Tan Cong, Lao Cai holds an important geo-economic and geopolitical position and plays a central role along the Kunming – Lao Cai – Hanoi – Haiphong – Quang Ninh economic corridor. It serves as a gateway not only for Vietnam but for ASEAN countries to reach the Yunnan Province and the Southwest region of China.

Resolution No. 11/NQ-TW dated February 10, 2022, of the Politburo, regarding orientations for socio-economic development and defense-security assurance in the northern midland and mountainous region of Vietnam until 2030, with a vision to 2045, and Prime Minister’s Decision No. 316/QĐ-TTg dated March 29, 2023, have identified “building Lao Cai into a center connecting economic trade between Vietnam, ASEAN countries, and Southwest China.”

Strategic vision

Previously, on December 20, 2024, Standing Deputy Prime Minister Nguyen Hoa Binh signed Decision No. 1620/QĐ-TTg approving the Implementation Plan for building Lao Cai into a center connecting economic trade between Vietnam, ASEAN countries, and Southwest China (the Plan).

The overall goal of this Plan is to develop Lao Cai into a key gateway and hub for transport and economic connectivity in the northern midland and mountainous region, and between Vietnam and ASEAN countries with Southwest China. This entails modern and synchronized transport infrastructure, contributing to making Lao Cai a growth pole and a relatively well-developed province nationwide by 2030.

To realize this goal, the Plan outlined key tasks such as building and developing synchronized, modern, and sustainable infrastructure connecting different regions and growth poles across the country in each phase. It also emphasizes actively mobilizing resources from within and outside the country to invest in vital projects that can drive development breakthroughs for the northern midland and mountainous region of Vietnam.

“With a future outlook on Vietnam–China cooperation, the promotion of enterprise growth and economic development in Lao Cai will have a significant spillover effect on both the Northwest region and the entire country. This forms the basis for both VCCI and the People’s Committee of Lao Cai Province to share a common purpose and determination to foster the growth of the business community and the business environment in Lao Cai, and it is also the driving force for VCCI to expand its activities in Lao Cai and the Northwest,” affirmed VCCI President Pham Tan Cong.