22:28 (GMT +7) - Wednesday 27/05/2020

Vietnam Today

Lang Son holds investment promotion conference

Released at: 17:27, 30/09/2019

Lang Son holds investment promotion conference

Photo: VGP

PM attends conference in northern province on September 30.

by Phi Linh

Prime Minister Nguyen Xuan Phuc took part in an investment promotion conference on September 30 in the northern province of Lang Son.

With the theme “Lang Son - A destination of success for investors”, the conference was attended by 500 delegates including leaders of central and local agencies, diplomatic agencies, business corporations, and domestic and foreign investors and enterprises.

Prime Minister Phuc presented investment approval decisions and investment registration certificates and MOUs totaling over VND105 trillion ($4.5 billion). He highly appreciated the achievements of the conference, held in a place that has many difficulties.

He noted five characteristics in five major changes in Lang Son over recent years. Firstly, socioeconomic development is strong, uniform, and comprehensive. People’s lives have been improved. The province has paid attention to harmonizing economic policies with society and the environment.

Secondly, the province has cooperated fully with the Ministry of Transport (MoT) and investors to build the 64-km Bac Giang - Lang Son Highway, thereby creating important conditions to attract development.

Thirdly, with a border of more than 200km, Lang Son has preserved, strengthened, and boosted cooperation with China’s Guangxi province.

Fourthly, its investment environment is constantly improving.

Fifthly, the face of Lang Son city and localities have changed greatly.

Prime Minister Phuc also emphasized a number of economic advantages to create a clearer flow of trade and investment into Lang Son, including the border-gate economy and tourism.

Lang Son is the first point in Vietnam on the Nanning Economic Corridor (China) - Lang Son - Hanoi - Hai Phong, and is also a bridge and gateway not only for Vietnam but also for ASEAN countries and Guangxi and southern China markets within the ASEAN-China Free Trade Area (CAFTA).

Lang Son is only 230km from Nanning, the capital of Guangxi province, and 150km from Hanoi. It therefore has access to a market of 50 million people in Guangxi, with a GDP of $300 billion, and Hanoi, with $100 billion.

Annual trade turnover of goods through border gates in Lang Son is over $5 billion; more 3.8 times higher than the size of its economy.

The border gate economy is a major strength of Lang Son, which needs to be further promoted, creating great momentum for the local economy.

Lang Son needs to focus on resources, including budget, investment capital, policies, and people for economic development based on three economic pillars. They are the border gate economy, sustainable tourism, smart agriculture, and export processing. For border-gate economic zones, it is necessary to concentrate on building trade and logistics infrastructure, serving the rotation of goods in localities throughout the country.

User comment (0)

Send comment