Scaling Up Industrial Development to Capture New Investment Inflows

Under its development strategy for the 2025-2030 period, Lao Cai has identified transport infrastructure and industrial park and cluster infrastructure as key priorities to expand the province’s economic development space. The province has been accelerating the completion of infrastructure in the southern industrial parks while improving the investment environment and strengthening support for businesses, with the goal of building a modern, efficient, and sustainable industrial park system.

Upgrading infrastructure to accommodate a new wave of investment

Lao Cai holds a strategic geographic position as a gateway linking Vietnam with ASEAN and Southwest China, while also serving as a dynamic economic center in the Northwest region. Building on these advantages, the province identified industrial development and the industrial park system as a key driver to promote growth and support a sustainable shift in the economic structure.

Lao Cai accelerates site clearance to advance development of Tran Yen Industrial Park

At present, the Lao Cai Industrial Parks Management Board directly oversees four planned industrial parks located mainly in the southern part of the province, including: Phia Nam Industrial Park, Au Lau Industrial Park, Minh Quan Industrial Park, and Tran Yen Industrial Park. These industrial parks are located along the economic corridor connected to the Noi Bai-Lao Cai Expressway and interregional transport routes, creating favorable conditions for industrial development, logistics, and investment attraction.

The province has been prioritizing investment and gradually completing the technical infrastructure in these industrial parks to create ready-to-use land to accommodate new investment projects. Among them, Tran Yen Industrial Park is a new industrial park with a large scale, planned under a modern model designed to attract high-tech projects, processing industries, and supporting industries.

Under its orientation to 2030, the province will continue completing infrastructure in the industrial park system, prioritizing the attraction of processing industries, supporting industries, mechanical engineering, electronics, textiles and garments, and sectors with high added value and environmental compatibility; thereby gradually forming a modern, efficient, and sustainable industrial park network.

Synchronized tasks and solutions

The Resolution of the First Lao Cai Provincial Party Congress for the 2025-2030 term identifies infrastructure development, particularly transport infrastructure and industrial park and cluster infrastructure, as one of the strategic breakthroughs to create a foundation for rapid and sustainable growth in the coming period.

Tran Yen Industrial Park is expected to create a new growth driver for the southern area of Lao Cai province

To achieve this objective, the province has been implementing a set of key solutions, focusing on completing regionally connected infrastructure projects such as the Lao Cai-Hanoi-Hai Phong railway line, upgrading the Noi Bai-Lao Cai Expressway, studying the development of Sa Pa Airport, and building an integrated system of energy and logistics infrastructure. These projects will expand industrial development space and facilitate the movement of goods.

The province will also continue planning and developing the system of industrial parks and clusters in a synchronized and modern direction, aligned with advantages in geo-economic location and interregional transport infrastructure. The industrial parks will be equipped with complete technical infrastructure to attract processing industries, supporting industries, and production sectors with high added value.

In this process, the Provincial Industrial Parks Management Board plays an important role in advisory work and implementation, coordinating with departments, sectors, and localities in industrial park development planning, improving investment attraction mechanisms, and supporting enterprises in project implementation.

“The synchronized implementation of infrastructure development solutions, particularly for industrial parks and clusters, will create an important foundation for Lao Cai to strengthen its investment attraction capacity and promote modern, sustainable industrial development,” said Do Viet Bach, Director of the Lao Cai Industrial Parks Management Board.

Strengthening support for businesses and investors

The Provincial Industrial Parks Management Board has consistently identified close cooperation with businesses and investors as a central task in the development process. In recent years, the board has promoted proactive investment promotion, ensuring transparent information on planning, infrastructure, and available land, while accelerating administrative procedure reforms, improving the quality of public services, and applying digital transformation in management.

At the same time, the board has worked closely with departments, sectors, and local authorities to promptly support enterprises and address difficulties arising during project implementation and business operations.

In the coming period, the board will continue its commitment to improving the investment environment, strengthening management efficiency, and working alongside enterprises, while proposing that competent authorities further refine mechanisms and policies and invest in infrastructure in a coordinated manner to create more favorable conditions for the long-term development of businesses and investors in the locality.

Ngo Khuyen (Vietnam Business Forum)