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.

Chairman of the Lai Chau Provincial People’s Committee Tran Tien Dung said that with a large land area, temperate climate, and diverse soil types, Lai Chau boasts the conditions necessary for developing high-quality agricultural and forestry products.

Its many rivers and springs also allow for the development of small- and medium-sized hydropower plants, aquaculture, and reservoir tourism.

The diversity of local natural resources also makes the province ideal for mining and the production of building materials. Upgrades on the way for the Ma Lu Thang National Border Gate to reach international standards and an abundant workforce are also local advantages, according to Dung.

He added that Lai Chau will focus on attracting investment in concentrated agricultural production to develop local specialties. 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 and forestry product processing, economic activities at border gates, and tourism.

The official pledged that local authorities will stand shoulder-to-shoulder with enterprises, actively reform administrative procedures, improve the business climate, and create the best possible conditions for investments in the province.

For his part, VKBIA Chairman Tran Hai Linh touched on fields where investors from the Republic of Korea seek opportunities.

He also spoke of the coordination in the organisation of investment promotion events, human resources training, border trade, high-quality agriculture, renewable energy, and tourism development.

The VKBIA also presented medical supplies to Lai Chau to help it fight COVID-19

Source: VNA