On the afternoon of March 22, Mr. Trinh Xuan Truong, Chairman of the Provincial People's Committee, had a working session with the Delegation of US Enterprises; Saigon Telecommunication & Technologies Corporation (Saigontel); Thanh Loi Trading and Investment Construction Company Limited.

Participating in the working session were leaders of departments: Foreign Affairs, Planning and Investment, Construction, Industry and Trade, Natural Resources and Environment, and the Management Board of the Provincial Economic Zone.On the side of the Delegation of US Enterprises were Mr. David Lewis, Chairman, CEO of Energy Capital Vietnam (ECV); Mr. Carl Anderson, Knights of Columbus Fund Management Company, founder of Rock Spring Law Group.Representing Saigon Telecommunication & Technologies Corporation (Saigontel) was Ms. Nguyen Cam Phuong, General Director.Representing Thanh Loi Trading and Investment Construction Company Limited was Mr. Nguyen Thanh Loi, Chairman of the Company.

At the working session, Mr. Trinh Xuan Truong, Chairman of the Provincial People's Committee, provided a general overview of the socio- economic situation, potential, and strengths of the province.

Mr. Truong emphasized: Lao Cai is currently effectively exploiting four economic pillars, including industry, border economy, tourism, and agriculture-forestry. In terms of tourism, the Sa Pa National Tourism Area is being oriented to become an internationally renowned tourist destination. In addition, Lao Cai has many other promising destinations such as Y Ty, Bac Ha... In terms of agriculture and forestry, Lao Cai has a suitable climate and soil conditions for developing many unique agricultural products.

Lao Cai is located in the economic corridor of Kunming (China) - Lao Cai - Hanoi - Hai Phong - Quang Ninh (Vietnam), serving as a growth pole and economic trading hub between ASEAN and the Southwest - China region. The import-export value before the pandemic reached 3.5 - 5 billion USD. With nearly 200 km of border roads, Lao Cai's consistent policy is to become a connectivity point for trade, tourism, culture, and history.The province's infrastructure connectivity is gradually being comprehensively invested in with expressways and railways, with plans for an airport in the future.

Chairman of the Provincial People's Committee Trinh Xuan Truong provides a general overview of the economic and social situation to the delegation.

In terms of minerals, Lao Cai boasts 35 types minerals with numerous large reserves such as iron, apatite, and copper; the mineral processing industry significantly contributes to the budget. However, the province still lacks industrial facilities for deep processing of minerals.

To efficiently exploit its potential strengths, Lao Cai province is focusing on investing in connectivity infrastructure, such as upgrading the Nội Bài - Lao Cai expressway, constructing the new high-speed railway line Lao Cai - Hanoi - Hai Phong, commencing construction of a Grade 4C airport, and accelerating the planning and implementation of industrial zones and clusters to attract investment.

Mr. Truong suggested that the working group assist in promoting and encouraging domestic enterprises, as well as American enterprises, to explore opportunities and invest in Lao Cai, especially in projects related to advanced technology in mineral processing industries, tourism, services, and agriculture utilizing high technology.

Mr. David Lewis, Chairman and CEO of ECV, expressed his desire to invest in Lao Cai in the field of mineral processing.

Mr. David Lewis, Chairman and CEO of ECV, stated that in the past period, their delegation has visited many provinces in Vietnam to survey and seek investment cooperation opportunities in the field of mineral processing. They have noticed that establishing mineral processing centers near mineral mines like in Lao Cai would be highly advantageous. Mr. David Lewis believes that Lao Cai holds a unique position at the intersection of the Northwest and Northeast regions, with convenient transportationconnections to Hanoi, Hai Phong, and many other potentials and advantages, making it very favorable for attracting investment.

He also expresses his desire for Lao Cai province to support and introduce suitable locations for establishing a specialized industrial zone for mineral processing. American enterprises, with expertise in deep mineral processing and economic strength, are ready to invest in factories, technology transfer, and support workforce training in Lao Cai. These enterprises are committed to using high technology that does not harm the environment, aiming for green and sustainable development.

Ms. Nguyen Cam Phuong, CEO of Saigontel, stated that Saigontel is a member of Saigon Investment Group (SGI), a leading private conglomerate in investment and development of industrial – urban - service clusters. SGI has successfully invested and developed over 30 industrial, urban, and service clusters nationwide. Saigontel hopes to cooperate with Lao Cai to attract enterprises with technology and economic potential to invest.

Chairman of the Provincial People's Committee, Mr. Trinh Xuan Truong, affirmed that Lao Cai always considers the success of investors and enterprises as the success of the province; always offering preferential policies and creating favorable conditions to attract investors to Lao Cai. The investment orientation of American enterprises and Saigontel's partners towards green growth aligns well with the province's development direction.

Mr. Truong proposed that Saigontel and its American partners collaborate with the province to study investing in an industrial zone with a suitable layout and infrastructure conditions aligned with the investment orientation of the partners. Lao Cai province will direct relevant departments and agencies to create favorable conditions for Saigontel to access information and data for researching and developing plans.

Reference: Chủ tịch UBND tỉnh Trịnh Xuân Trường làm việc với Đoàn doanh nghiệp Hoa Kỳ | Báo Lào Cai điện tử (baolaocai.vn)

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