Lai Chau Striving to Create Investor-Friendly Environment

Despite numerous socioeconomic challenges, Lai Chau possesses much potential and opportunities for investors, such as the abundance of resources and minerals, agriculture, forestry and aquaculture, hydroelectric plants, services and tourism. In the near future, with support from the Provincial Committee, People's Council, People's Committee and government agencies, the province will continue to work on the overall socioeconomic development master plan, departmental plan and product plan in order to make more opportunities available for investors; build policies and mechanisms to attract investment and strive towards a more open and transparent investing environment; and help businesses expand their operations and increase their efficiency through worker training programmes. It is expected that more local and foreign investors will be interested in and invest in the province

 

Being a producer of tea products, we hope to receive more support from government departments in order to build, plan and manage the material-specific areas in a more sustainable way, protect the brand, as well as introduce and popularise tea products with a perennially good reputation such as "Than Uyen Tea." In addition, since tea is a consumer product which has direct effect on people's health, government agencies should step up their investigation, license granting, and quality inspection activities in order to raise consumer safety and protect the brand and reputation of honest tea-producing businesses.

 

Over the last few years, leaders of Lai Chau province and government departments and agencies have made numerous efforts to support local businesses. However, going forward, the province needs to revise their inspection and license granting activities for investment projects and improve the capacity of government employees. In this difficult period, businesses should take a hard look at themselves and step up the restructuring process, improve management capability, balance their finances, and complete ongoing projects, while at the same time being more selective when purchasing production machinery and starting new projects.

 

Lai Chau needs to attract capable and experienced investors to invest here for the long term and in a sustainable manner. In this difficult time, the Government should put in place favourable policies to help small and medium businesses (SMEs) stabilise their operations and overcome the challenges facing them; offer consulting services for local SMEs about business concepts and the investment environment amidst the global integration process in order to help SMEs improve their competitiveness and devise their own plans to better suit the pace of economic development of the province in the near future.

 

Operating a business in the province, I feel that the formality procedures are very convenient for businesses. What the province needs to improve, however, is to build a comprehensive government structure as well as an efficient working style in the local provincial offices. Because of its unique characteristics as a mountainous province which faces many challenges, the province should initiate reforms to attract more investment, such as a more favourable tax policy to differentiate itself from other provinces and build rapport with investors.

 

In order to create a breakthrough in the development of Phong Tho District, the province will step up reforming procedures to create a more conducive environment for investors. First and foremost, the waiting time for formality procedures should be reduced and the procedures will be publicised to make it easier for investors to follow through. The district will continue to encourage a "one door" policy to better serve investors. At the same time, there will be improvement in office employees' capability, administrative procedures, office etiquette in dealing with customers and working style, so employees take more responsibility for their work.