Lao Cai to sign cooperative deals worth USD5.3 billion

Monday, 22/07/2019 17:20
The northern mountainous province of Lao Cai will sign cooperative deals with 11 partners for a total capital of USD5.3 billion and grant eight investment decisions for projects.

Building Lao Cai into developed province in northwest

 

Sa Pa town in Lao Cai is attracting more and more foreign tourists

So said Mr. Hoang Chi Hien, Head of the provincial People’s Committee’s Office, in a press brief to introduce the Lao Cai Investment, Trade and Tourism Promotion Conference, scheduled on September 20th.

These eight projects include four on tourism and service, two on urban development, one on pharmaceutical development and one on industrial development with a total capital of about USD1 billion.

The conference is expected to create conditions for business and investors to meet, discuss and propose solutions for the Government and local authorities to boost production assistance and cooperation.

It will focus on discussing investment in border trade and tourism such as: logistics projects, industrial projects, hi-tech agricultural projects, production and processing of pharmaceutical projects, and development tourism services.

Over the past 15 years (from 2004 to 2018), Lao Cai approved investment in 618 projects with registered capital of VND93 trillion; including 23 urban areas projects, capitalized with VND6.63 trillion. Projects are in all fields, such as: mineral exploitation and processing industry, metallurgy, chemicals, energy, tourism services, hi-tech agriculture, health, education, environment, urban development.

The province has granted licenses to 29 FDI projects with registered capital of USD574.7 million with the focus on border economy, tourism services, and mineral exploitation and processing./.

BTA

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