Cao Bằng looking to attract foreign investors

October 04, 2023 - 09:05
On Tuesday, the Cao Bằng People's Committee, in collaboration with the Ministry of Foreign Affairs (MOFA), organised an event titled "Cao Bằng: Destination - Connection and Development" in Hà Nội.
Delegates officially opens the event on Tuesday. — Photo courtesy of Cao Bằng People's Committee

HÀ NỘI — Cao Bằng, a mountainous border province in northern Việt Nam, is home to many natural wonders and heritages.

Province officials, however, believe that the land's potential is far more greater than just tourism, but also agriculture and trade.

On Tuesday, the Cao Bằng People's Committee, in collaboration with the Ministry of Foreign Affairs (MOFA), organised an event titled "Cao Bằng: Destination – Connection and Development" in Hà Nội.

The event's intention, is to showcase the province's landscape, people, and its potential to a wide range of foreign businesses and officials.

Booths showcasing Cao Bằng's products, as well as a gallery full of the province's natural wonders were also included in the event.

"With geographical advantages, Cao Bằng can certainly win international partners' attention and priority in the future," said Hà Kim Ngọc, Deputy Minister of Foreign Affairs in the opening address.

"MOFA will increase its support to international organisations, investors, businesses, and INGOs who wants to invest in Cao Bằng, and create spaces for effective conversation and collaborations," Ngọc added.

Investors, businesses, and partners both domestic and international are encouraged to come to Cao Bằng for surveys and investment activities, he said.

The province commits to maintaining and effectively implementing a comprehensive foreign policy, contributing to portraying an increasingly friendly image of Cao Bằng to international friends.

Cao Bằng also pledges to diligently implement signed agreements and memoranda of understanding, enhance coordination capabilities, actively collaborate, promptly address emerging issues, and work towards sustainable development.

"With the advantage of being a border province, with a vast array of natural resources, wonders and historical heritages, as well as a diverse culture, Cao Bằng has potential to realise its key goals and make breakthroughs," said Hoàng Xuân Ánh, chairman of the Cao Bằng People's Committee.

According to Ánh, with the determination to turn challenges into advantages for growth, in recent years, Cao Bằng has united, worked together, and made fundamental and substantial changes in economic and social development.

In the 2020-25 period, the province aims to efficiently utilise all potentials and strengths for economic and social development, with a focus on developing high-tech agriculture, tourism, and border economy.

Room to grow

Beside the advantages, Ánh also acknowledge the shortcomings and challenges of Cao Bằng, such as limited infrastructure, the untapped potential in tourism, and low labour quality.

Many delegates, both domestic and international, have contributed suggestions for Cao Bằng to maximise its advantages.

Specifically, discussions revolved around guiding the development of tourism while preserving the environmental landscape and conserving heritage, with a focus on the UNESCO-recognised Global Geopark Non Nước Cao Bằng.

There was also an emphasis on developing high-tech agriculture with strategic planning and favourable policies in the agricultural sector.

Additionally, open policy mechanisms and measures to improve the investment and business environment were discussed, including attracting ODA funds for urban infrastructure and transportation development.

According to the Deputy Ambassador of Laos to Việt Nam Latana Shihara, with the similarities in nature and geography, Cao Bằng can explore collaboration with Laos provinces such as Luang Prabang and Xiangkhouang in tourism and investment.

Hong Sun, director of KOCHAM Việt Nam, said that Cao Bằng has many natural attractions for businesses.

He suggested that the province promote high-tech agriculture and connect with Korean businesses for export to South Korea.

In the event, KOCHAM also signed a memorandum of cooperation with the province of Cao Bằng.

"Korea is Việt Nam's biggest foreign market, but Koreans know very little about Cao Bằng. The province should increase promotion to attract Korean investors and tourists," said Hong.

According to Marko Moric, chairman of the Central and Eastern European Chamber of Commerce in Việt Nam (CEEC), Cao Bằng is a hidden gem that can boost Việt Nam's economy.

Moric promised support from the CEEC to connect the province and Central-Eastern European businesses. — VNS