At the conference, the provincial People’s Committee granted decisions approving investment policies for four projects.

These include the 28MW Là Si 1A hydropower project with a total investment of VNĐ1.05 trillion for energy company ES-LC; the 24MW Nậm Ngà hydropower project with a total investment of VNĐ970 billion for Nậm Ngà Hydroelectricity Company Limited; a forestation project in Sìn Hồ worth VNĐ115 billion for KDT Đại Việt; and a high-tech forestation project in Tân Uyên District worth VNĐ28 billion for Thai Lai Tâm Huệ An.

Lai Châu Province investment promotion conference held on Sunday — VNA/VNS Photo

The province also granted growing codes for Lai Châu ginseng to Sao Đỏ Tây Bắc and Thái Minh High-tech Agriculture at the conference and signed memorandums of understanding with 12 investors in sectors including real estate, tourism, medicinal and fruit tree plantation, as well as processing and consumption of agro-forestry products worth over VNĐ3 trillion in total.

Lai Châu also announced 61 projects that are open for investment, including tea plantation and production in Tân Uyên and Tam Đường districts, a Tam Đường golf course, a Sìn hồ resort complex, a Tân Uyên golf course, a vegetable and fruit processing plant in Than Uyên and a shopping complex in Tam Đường.

Bùi Nguyễn Anh Tuấn, deputy director of the Domestic Market Department under the Ministry of Industry and Trade, said that Lai Châu has significant potential in mining, agriculture and tourism. The ministry will provide support to Lai Châu to attract investors and expand markets.

Lai Châu welcomes investors and pledges to create the most favourable conditions for investors to do business in the mountainous northern province and contribute to the province’s sustainable development, according to Lê Văn Lương, chairman of the provincial People’s Committee.

The focus will be on removing difficulties, offering high incentives and simplifying administrative procedures for investors. Business registration certificates will be issued in no more than two days, with investment policy decisions made in no more than two thirds of the prescribed time and construction permits in no more than 10 days.