Foreign businesses in the northern province of Lao Cai, which borders China, have been running smoothly despite the ongoing tensions at sea between Vietnam and China.
A tour of foreign-invested businesses based there gave Vietnam News Agency reporters insights into the current performance of their facilities.
The Lao Cai iron and steel factory, which is partnered by the Vietnam Steel Corporation and the Chinese Kungang steel and iron company, is operating steadily with the participation of more than 200 Chinese experts and workers.
Wang Xu, first Vice Director General of the Vietnam-China Mineral Resources and Metallurgy Company, the project’s investor, stated that the plant has enjoyed fantastic assistance from the local authorities.
He recalled the presence of Nguyen Thanh Duong, Vice Chairman of the provincial People’s Committee, at the May 26 ceremony to witness the first batch of cast iron being churned out from workshops of the factory and answer workers’ problems.
With construction started in 2011 with a total investment of 337 million USD, the factory can produce 12-13 batches of cast iron every day, with a total output of 1,500 tonnes.
The factory’s Vice Director, Do Xuan Thanh, said despite the tensions at sea between the two countries, Vietnamese and Chinese experts and workers at the plant have maintained a good relationship and the Chinese have been provided with the best possible living and working conditions.
At Tang Loong Industrial Park, where Chinese people account for the majority of the 422 foreign experts and workers, construction and production activities are running as normal.
Although spontaneous protests against China’s illegal placement of its oil rig in Vietnam’s waters took place in other parts of the country, sparking some social disorder, none occurred here, according to the Lao Cai Economic Zone Management Board on June 11.
Construction of the DAP fertiliser plant No.2 of the Vietnam Chemicals Group – a national work – is running smoothly with the involvement of 164 foreign workers and experts from the UK, Malaysia, the Philippines, India, Thailand and China.
Costing 265.2 million USD, the plant is designed to produce 330,000 tonnes of DAP a year, which would bring in a revenue of 4 trillion VND a year.
Nguyen Thanh Duong, Vice Chairman of the provincial People’s Committee, said the province has unceasingly worked to better its investment environment along with rolling out incentives pertaining to tax, administrative formalities, and site clearance favouring foreign staff.
Ronan Biachi, Director of five-star Victoria Sa Pa hotel, said he is pleased with the local authorities’ assistance. Policies such as tax exemption or reduction have helped the province reel in more foreign businesses, he said.
At present, the locality is home to 30 Foreign Direct Investment (FDI) projects with a total registered capital of 504.5 million USD.-VNA
A tour of foreign-invested businesses based there gave Vietnam News Agency reporters insights into the current performance of their facilities.
The Lao Cai iron and steel factory, which is partnered by the Vietnam Steel Corporation and the Chinese Kungang steel and iron company, is operating steadily with the participation of more than 200 Chinese experts and workers.
Wang Xu, first Vice Director General of the Vietnam-China Mineral Resources and Metallurgy Company, the project’s investor, stated that the plant has enjoyed fantastic assistance from the local authorities.
He recalled the presence of Nguyen Thanh Duong, Vice Chairman of the provincial People’s Committee, at the May 26 ceremony to witness the first batch of cast iron being churned out from workshops of the factory and answer workers’ problems.
With construction started in 2011 with a total investment of 337 million USD, the factory can produce 12-13 batches of cast iron every day, with a total output of 1,500 tonnes.
The factory’s Vice Director, Do Xuan Thanh, said despite the tensions at sea between the two countries, Vietnamese and Chinese experts and workers at the plant have maintained a good relationship and the Chinese have been provided with the best possible living and working conditions.
At Tang Loong Industrial Park, where Chinese people account for the majority of the 422 foreign experts and workers, construction and production activities are running as normal.
Although spontaneous protests against China’s illegal placement of its oil rig in Vietnam’s waters took place in other parts of the country, sparking some social disorder, none occurred here, according to the Lao Cai Economic Zone Management Board on June 11.
Construction of the DAP fertiliser plant No.2 of the Vietnam Chemicals Group – a national work – is running smoothly with the involvement of 164 foreign workers and experts from the UK, Malaysia, the Philippines, India, Thailand and China.
Costing 265.2 million USD, the plant is designed to produce 330,000 tonnes of DAP a year, which would bring in a revenue of 4 trillion VND a year.
Nguyen Thanh Duong, Vice Chairman of the provincial People’s Committee, said the province has unceasingly worked to better its investment environment along with rolling out incentives pertaining to tax, administrative formalities, and site clearance favouring foreign staff.
Ronan Biachi, Director of five-star Victoria Sa Pa hotel, said he is pleased with the local authorities’ assistance. Policies such as tax exemption or reduction have helped the province reel in more foreign businesses, he said.
At present, the locality is home to 30 Foreign Direct Investment (FDI) projects with a total registered capital of 504.5 million USD.-VNA
