Lai Chau province invites investment in raft of sectors
The northern mountainous province of Lai Chau introduced its strengths and called for investment to different fields during a meeting with the Vietnam-Korea Businessmen and Investment Association (VKBIA) on May 4.
An iron plate production line of Thuy Nam Co., Ltd in Lai Chau (Photo: )
Lai Chau (VNA) - The northernmountainous province of Lai Chau introduced its strengths and called forinvestment to different fields during a meeting with the Vietnam-Korea Businessmenand Investment Association (VKBIA) on May 4.
Chairman of the Lai Chau Provincial People’sCommittee Tran Tien Dung said that with a large land area, temperate climate,and diverse soil types, Lai Chau boasts the conditions necessary for developinghigh-quality agricultural and forestry products.
Its many rivers and springs also allow for the developmentof small- and medium-sized hydropower plants, aquaculture, and reservoirtourism.
The diversity of local natural resources alsomakes the province ideal for mining and the production of building materials. Upgradeson the way for the Ma Lu Thang National Border Gate to reach international standardsand an abundant workforce are also local advantages, according to Dung.
He added that Lai Chau will focus on attractinginvestment in concentrated agricultural production to develop localspecialties. It will also boost the application of high technology in agriculture,connectivity between businesses and farmers, sustainable forestry development,renewable energy, mining, building materials production, agricultural andforestry product processing, economic activities at border gates, and tourism.
The official pledged that local authorities will stand shoulder-to-shoulderwith enterprises, actively reform administrative procedures, improve thebusiness climate, and create the best possible conditions for investments inthe province.
For his part, VKBIA Chairman Tran Hai Linh touchedon fields where investors from the Republic of Korea seek opportunities.
He also spoke of the coordination in the organisationof investment promotion events, human resources training, border trade,high-quality agriculture, renewable energy, and tourism development.
The VKBIA also presented medical supplies to LaiChau to help it fight COVID-19./.
Son La hydropower company has set a target of producing over 11.7 billion kWh of electricity in 2020, up about 2.5 billion kWh compared to the previous year.
Authorities in the northern mountainous province of Lai Chau are promoting policies for community-based tourism to develop the local economy and create jobs.
Vietnam and China has agreed to reopen more border crossings to reduce the large number of container trucks queuing for customs clearance as a result of the new coronavirus (SARS-CoV-2) outbreak.
The Northern Power Corporation (EVNNPC), a subsidiary of Vietnam Electricity (EVN), has reported that its commercial power output in February picked up 11.04 percent year-on-year to more than 5.15 billion kWh, despite rampant COVID-19 outbreak.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
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Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
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PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Vietnam is now positioning itself as a global manufacturing hub with a diversified export portfolio, improved product quality, and enhanced price competitiveness.
An iron plate production line of Thuy Nam Co., Ltd in Lai Chau (Photo: ) 
