Lao Cai ready to welcome Indian investors: Official

Lao Cai has prepared the best conditions to welcome enterprises and investors, particularly those from India, the provincial Party Committee Secretary Dang Xuan Phong said at an Investment, Trade and Tourism Promotion Conference between Lao Cai province and India held in New Delhi on July 25.
Lao Cai ready to welcome Indian investors: provincial official
At the conference. (Photo: VNA)

Phong said that he expects Indian investors will soon come to Lao Cai and play a leading role in developing a herbal medicine processing industrial zone in the province.

Lao Cai is committed to always accompanying and creating favourable conditions for Indian businesses and investors to make successful, sustainable, and long-term investments there, the official said.

Giang Thi Dung, Vice Chairwoman of the provincial People's Committee, briefed participants on the province's strengths including the famous resort town of Sapa, hundreds of mineral mines with large reserves, and about 850 species of medicinal plants.

In addition, the province is offering incentives and investment support mechanisms to attract foreign investment, she said.

Dung also proposed specific areas of cooperation and investment for Indian businesses including medicinal herb processing, tourism, high-tech agriculture, and high-tech industry.

Ambassador to India Nguyen Thanh Hai affirmed that the relationship between Vietnam and India is prosperous in all fields, particularly in economy, trade, investment, and tourism.

However, he said that the development is still not commensurate with the size of the political, cultural relationship and the high trust between the two countries.

According to him, connectivity is one of the most important drivers for the development of trade, tourism, and investment.

Indian delegates affirmed that Vietnam in general and Lao Cai in particular are top destinations for Indian investors and tourists thanks to the open business and investment environment, dynamic economy, friendly people, and outstanding natural beauty.

At the conference, six Memorandums of Understanding were signed by agencies and businesses from the two countries.

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(Source: VNA)