Five enterprises sign a memorandum of understanding on investment cooperation with the districts of Bac Ha, Si Ma Cai, Bat Xat, Muong Khuong and Van Ban.    

NDO – The People’s Committee of Lao Cai Province held an investment promotion conference on March 31 to call on investment in agriculture and forestry sector, under which the province is committed to implementing 24 specific policy contents to support investors in the field.

The event saw the participation of representatives from the four provinces of Hai Duong, Bac Giang, Hoa Binh and Son La along with Non-Governmental Organisations such as Great, SNV, Helvetas, and IDH in addition to nearly 70 enterprises and cooperatives operating in agricultural sector.

Lao Cai has 525,000 ha of agricultural land, accounting for 82% of the province’s total natural area with various climate sub-regions and large potential to develop different crops and livestock. The province also has 25 ethnic groups with diverse cultural identities, creating various specialty products and OCOP products.

The agricultural sector is the lever of the local economy with an average growth rate of over 5% per year. Several concentrated raw material areas have been formed in the province, such as 3,584 ha of medicinal herbs, 6,364ha of tea, 3,332 ha of banana, 1,689 ha of pineapple, 46,844ha of cinnamon, and so on.

However, the application of scientific and technical advances in the production stages has not been synchronised while deep processing remains modest.

At the conference, enterprises and organisations discussed measures to solve difficulties and obstacles related to land, human resources, and preferential policies in order to attract strategic investors to Lao Cai in the field of agriculture and forestry.

The province will prioritise attracting investment in the production and processing of six key commodities: tea, medicinal herbs, bananas, pineapples, cinnamon, and pig raising and forestry economy.

Lao Cai is also committed to implementing 24 specific policy contents to support investors in areas of cultivation, animal husbandry, agricultural product processing, and support for cooperative development, among others.

On the occasion, five enterprises signed a memorandum of understanding on investment cooperation with the districts of Bac Ha, Si Ma Cai, Bat Xat, Muong Khuong and Van Ban regarding the development and processing of medicinal herbs, vegetables, flowers, temperate fruit trees, and livestock.