A view of urban development and residential areas in Điện Biên Province. — VNA/VNS Photo

ĐIỆN BIÊN — The northern province of Điện Biên is stepping up efforts to attract investment as it seeks to unlock its economic potential and develop key local industries.

Between 2023 and 2025, Điện Biên approved 44 new projects worth more than VNĐ13.6 trillion, including the VNĐ500 billion Mường Thanh Luxury Điện Biên Hotel, the province’s first planned five-star property. Other major developments include nearly VNĐ980 billion in new residential–commercial zones in Điện Biên Phủ Ward and a VNĐ670 billion pedestrian and urban complex near Mường Thanh Airport.

In total, the province has approved 222 projects with registered capital exceeding VNĐ47.2 trillion. Of these, 129 are already operational, while 93 are under construction, contributing to stronger local economic activity and the development of key industries.

Officials say these projects are expected to expand the province’s tourism capacity, create jobs and spur demand for supporting industries.

Bùi Mạnh Thắng, deputy director of the provincial Department of Finance, said Điện Biên is working to maintain investor momentum by improving its regulatory and administrative environment. Priority measures include streamlining investment procedures, expanding technical and digital infrastructure, and boosting workforce training to meet market needs.

He added that the province will strengthen dialogue with investors while removing obstacles to project execution. Slow-moving projects or those backed by investors lacking capacity will be revoked, he said, to free up space for more capable enterprises. — BIZHUB/VNS