Vietnam’s Lào Cai Approves $920 Million Investment Projects to Accelerate Green Growth
Lào Cai, The Gulf Observer: Vietnam’s northern border province of Lào Cai on Friday approved 24 new investment projects worth more than VNĐ24 trillion (approximately US$920 million) as part of its strategy to promote green, sustainable development and strengthen its position as a regional gateway for cross-border trade.
The projects were endorsed during the province’s annual investment promotion conference, held under the theme “Connectivity for Green, Sustainable Development,” bringing together government officials, investors and business leaders.
Addressing the conference, Deputy Prime Minister Hồ Quốc Dũng said investing in Lào Cai was not only a sound business opportunity but also a chance to preserve the cultural heritage of the province’s ethnic communities, improve living standards in mountainous areas and support the province’s target of achieving annual economic growth of more than 11 percent through 2030.
The Deputy Prime Minister identified five priority sectors for future investment, including logistics and border-trade infrastructure, deep-processing industries integrated with renewable energy, world-class tourism and cultural industries, high-tech ecological agriculture, and modern urban and hospitality development.
He urged central ministries, government agencies and the Vietnam Chamber of Commerce and Industry (VCCI) to work closely with provincial authorities to implement investment-friendly policies and accelerate transport infrastructure projects linking Lào Cai with neighboring regions. He also emphasized the importance of utilizing the province’s young workforce to enhance competitiveness and welcomed the confidence shown by domestic and international investors.
Secretary of the Lào Cai Party Committee Dương Quốc Huy highlighted the province’s strategic location at the crossroads of Vietnam’s northern mountainous and midland regions, describing it as an increasingly attractive destination for both local and foreign investment.
He reaffirmed the provincial government’s commitment to improving the business environment through infrastructure development, administrative and digital reforms, and more efficient public services for businesses and residents.
Chairman of the Lào Cai People’s Committee Nguyễn Tuấn Anh said sustained reforms had significantly enhanced the province’s investment climate. He noted that Lào Cai currently hosts 1,446 active investment projects with a combined registered capital exceeding VNĐ294 trillion (about US$11 billion), including 68 foreign-invested projects valued at more than US$753 million.
The 24 newly approved projects focus on industrial infrastructure, solar energy, mining, mineral processing and commercial housing, reflecting the province’s key development priorities.
Ahead of the conference, Deputy Prime Minister Hồ Quốc Dũng and provincial leaders visited an exhibition featuring products from the “One Commune, One Product” programme and other local specialties, showcasing Lào Cai’s potential as an investment, trade and tourism destination.
