PM Nguyen Xuan Phuc at the first ever investment and tourism promotion conference in Lao Chau, April 23, 2016. Photo:VGP

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Firstly, the province needs to enhance administrative procedure reform and create an open environment, he said, adding that it is necessary to regard the benefits of investors as the province and nation’s benefits.

Secondly, it is necessary to beef up cooperative relations with the neighboring nation and to build up the borderline of peace and friendship in order to expand export market.

Thirdly, it has to pay attention to ensuring social security, improving local people’s living standards and maintaining the cultural identities to safeguard  balanced economic and social development.

PM Phuc took the occasion to ask investors to strictly realize their commitments while assuring them that the Government pledges to maintain a peaceful environment and macroeconomic stability.

Lai Chau is one of the four poorest localities in Viet Nam that PM Phuc planned to visit since he took office. Earlier, he also attended the first investment and tourism promotion conference in the central province of Quang Tri in a bid to seek ways for robust economic growth.

In a bigger picture, the move also reflects one of his top priorities that he named shortly after being voted in as Prime Minister.

First encouraging signals

The province expects to attract investment in infrastructure, commercial centers, hydro-electricity and rare land projects, said Chairman of the provincial People’s Committee Do Ngoc An.

An committed to creating most favorable conditions for investors to launch effective and sustainable investment in Lai Chau.

Also at the conference, the provincial People’s Committee handed over decisions approving investment orientations to 10 projects worth over VND eight trillion.

Since 2004, the province has lured 124 projects with the registered capital of more than VND204 trillion but private investment remains modest.

The province is home to only three valid foreign direct investment (FDI) projects, valued at US$4 million.

Currently, the mountainous province is calling for investment in 21 key projects./.

By Thuy Dung