Authorities of the northern mountainous province of Lao Cai have
promised all possible support to investors, saying that they are willing
to share responsibilities and interests with them.
Holding a
working session with Ministry of Industry and Trade officials, Chinese
Economic and Commercial Counsellor and representatives from Vietnamese
and Chinese firms in Lao Cai on November 14, Secretary of the Lao Cai
Party Committee and Chairman of the provincial People’s Committee Nguyen
Van Vinh made clear the province’s consistent policy of investment
attraction.
Under the policy, economic and trade ties between
Lao Cai and the Chinese province of Yunnan will be given special
attention while efforts to build the Kunming – Lao Cai – Hanoi – Hai
Phong – Quang Ninh economic corridor on which Lao Cai lies will be
ramped up.
Lao Cai, thanks to geographical advantages, always
sustains high economic growth and expands external relations, Vinh
noted, adding that it has resulted in growing foreign investment over
the past time.
According to him, the number of domestic and
foreign projects in the locality has hit 430 with a capital of 60
trillion VND (2.8 billion USD), up 9.3 times from 2005. Among them are
China’s Seo Chung Ho hydro-power plant, Quy Sa iron ore mine and Lao Cai
cast iron and steel plant worth up to 400 million USD in total.
From January-October, Lao Cai’s export-import turnover surpassed 1.5
trillion USD, of which exports grossed 927.5 million USD. Its trade is
expected to net 1.85 billion USD this year, up 20 percent from 2012.
The working session was part of the ongoing Vietnam-China
international trade fair that kicked off the same day, during which
dozens of economic deals worth nearly 250 million USD were struck.-VNA