Lao Cai City Willing to Accompany Businesses

Lao Cai is a mountainous border city, on the banks of the Red River, sharing a 12 km border with China and having convenient transportation conditions. The development of the Kunming - Lao Cai - Hanoi - Hai Phong economic corridor is a great motivation to foster the development of industry, trade, tourism and services and promote its role as gateway to southwest China’s 12 provinces and cities, with a population of over 350 million. It is a large market with high demand for diverse goods. Lao Cai City has precious and diversified resources. First of all, when mentioning Lao Cai, we have to mention human resources and tourism. Lao Cai City has 6 relics, 3 of which are classified as national sites. Especially Lao Cai City is the intersection of domestic and foreign tours in the Northwest region. With favourable transportation by sea and road, the city can develop many tourist routes such as from Quang Ninh, Hai Phong and Hanoi to Lao Cai, or Quang Ninh,Hai Phong, Hanoi to Lao Cai and China.

 

Lao Cai City and its surrounding areas have rich mineral resources. The city has the country's largest apatite mine, with reserves of 1.4 billion tonnes in such communes as Ta Phoi, Cam Duong and Dong Tuyen. Besides, Lao Cai also has many other precious minerals such as Nam Thi graphite mine, Van Hoa Feldspar mine, Hop Thanh iron ore, and copper ore in Ta Phoi. There are also many minerals for building materials such as limestone, clay, sand and gravel.

 

Recognising the advantages for development, the city leaders are determined to create all favourable conditions for business development and attracting investors, contributing to socio-economic development in the city in particular and the province in general. The city leaders advocate simplifying administrative procedures, and thoroughly training staff on service standards to support businesses, individuals and organization who come to do administrative transactions. Mr Vu Van Cai, Vice Chairman of Lao Cai City’s People’s Committee, said the leaders and all the city officials always uphold the slogan: "Devotion – Creativity – Effectiveness", to ensure compliance with regulations time for all administrative procedures. Local governments are always ready to do their best within their power to assist investors' projects in the city, such as business support in clearance and consulting investment projects to ensure timely schedule and quality.

 

Realising awareness, responsibility and willingness to create all favourable conditions for enterprises of the local government, the number of investment projects in the city are increased. In the period 2006 - 2010, the total registered investment capital in the city reached VND4,050 billion /102 investment projects. From 2011 until now, the registered capital reached VND3.280 billion/72 investment projects.

 

To attract investment in the future, Mr Cai added that the city will continue to direct and extend interest to create a favourable investment environment and promote best "OSS" in the clearance for business investment. This will be a good motivation for Lao Cai city to continue to grow further in the coming years and contribute significantly to the province’s socio-economic development.