Authorities of the northern mountainous province of Lao Cai have promised all possible support to investors, saying that they are willing to share responsibilities and interests with them.

Holding a working session with Ministry of Industry and Trade officials, Chinese Economic and Commercial Counsellor and representatives from Vietnamese and Chinese firms in Lao Cai on November 14, Secretary of the Lao Cai Party Committee and Chairman of the provincial People’s Committee Nguyen Van Vinh made clear the province’s consistent policy of investment attraction.

Under the policy, economic and trade ties between Lao Cai and the Chinese province of Yunnan will be given special attention while efforts to build the Kunming – Lao Cai – Hanoi – Hai Phong – Quang Ninh economic corridor on which Lao Cai lies will be ramped up.

Lao Cai, thanks to geographical advantages, always sustains high economic growth and expands external relations, Vinh noted, adding that it has resulted in growing foreign investment over the past time.

According to him, the number of domestic and foreign projects in the locality has hit 430 with a capital of 60 trillion VND (2.8 billion USD), up 9.3 times from 2005. Among them are China’s Seo Chung Ho hydro-power plant, Quy Sa iron ore mine and Lao Cai cast iron and steel plant worth up to 400 million USD in total.

From January-October, Lao Cai’s export-import turnover surpassed 1.5 trillion USD, of which exports grossed 927.5 million USD. Its trade is expected to net 1.85 billion USD this year, up 20 percent from 2012.

The working session was part of the ongoing Vietnam-China international trade fair that kicked off the same day, during which dozens of economic deals worth nearly 250 million USD were struck.-VNA