Cao Bang: The Best Offer for Investors

Cao Bang, the northernmost province of Vietnam is consistently impressive and attractive:

Cao Bang has several border gates with China. The province is rich in minerals, hydropower and tourism potential, as well as agriculture and forestry. Today, with the development of communication, the province is closely linked with the rest of the country. New projects have been built, bringing faster growth and attracting more investments, especially in mining and hydropower. There are still numerous opportunities for investors. The province is improving its investment mechanisms and preferential treatments, and accelerating administrative reform and land clearance: Cao Bang is fully committed to make the best opportunities available for investors.

Coming to Cao Bang, visitors and investors will be warmly welcomed by ethnic nationalities of the province, and learn more about the favourable conditions and management of the authorities. In the past seven years (2001-2007) with the assistance of the central government and cooperation of the investors, Cao Bang has made good use of opportunities and developed its potentials, keeping abreast with the growth of the nation.

 

The Prime Minister has approved the master plan for socio-economic development of the province to the year 2020, and in 2007 endorsed the restoration and development of Pac Bo historical relic and Ban Gioc tourist centre with investment capital of VND2,500 billion.

Cao Bang has long been known as a land of great potential with “white rice and clean water” or “Phan Me coal and Cao Bang tin”. Today, the province has opened up with the development of industries like mining, hydropower, agriculture and forestry processing, and tourism. However, great potential still remains with little exploitation.

The mineral resources are of large quantity and good quality with 22 kinds in 150 mines, especially 60 million tonnes of iron ore, 5 million tonnes of manganese, and 180 million tonnes of bauxite, which could be exploited for dozens of years. The province has a network of rivers such as the Bang, Hien, Quay Son, Bac Vong, Gam and Nho Que with high slope capable of generating hydropower up to 300-400MW. The natural area of 6,724 sq. km includes 5,987 sq. km of agriculture and forestry land with good climate and areas favourable for the development of resources zones for the processing industry. With a 311 km border, three border gates and several border markets, the province is a great place to develop trade with China. Besides, tourism can be developed with landscapes as Ban Gioc Waterfalls, Nguom Ngao Cave, Thang Hen Lake, Phia Oac mountain peak of 1931 metres and historical relics as Pac Bo where President Ho Chi Minh lived and worked, and Tran Hung Dao forest where the first unit of the Liberation Army was established.

 

So far, the province has attracted several investment projects. In FDI alone, by October 2007, Cao Bang has granted licenses to 40 projects with investment capital of VND4,177 billion. However, it remains short of its potential and the demand in the province. The most significant project is the steel ingot plant of Vietnam Coal and Minerals Group capitalized at VND1,291 billion. However, it still lacks a project for intensive processing of iron ore. In hydropower, by 2007, the capacity was only 20MW (5% of the demand). In 2007, there will be two more hydropower stations with 30MW. Meanwhile forestation and agriculture-forestry processing, while promising, remain without big investment projects. In tourism, Cao Bang needs big projects as the potential remains almost completely untapped. With the current industrialization and urbanization, Cao Bang calls on investment in infrastructure, especially in Cao Bang town, industrial zones and centres in Cao Bang town and districts of Hoa An and Phuc Hoa.

 

Cao Bang will ensure the best opportunities and hopes that investors will be successful, in their interest and that of the province.

 

To attract more investment, Cao Bang has improved preferential mechanisms, accelerated administrative reform, assisted in land clearance and removed hurdles for the early implementation and operation of projects.

 

The province has advanced planning in various fields: industrial development in 2006-2010, small hydro-power projects, mineral exploitation and processing. It has also readjusted policy and preferential treatment in local areas in accordance with the Investment Law and Decrees, ensuring investors an exemption of land rental for at least 11 years from project operation, income tax exemption for the first four years and 50% reduction for the following nine years. In addition, investment projects can be assisted in access to bank loans and capital mobilization, investment promotion, workforce training and preferential treatment in import-export taxes.

 

In recent years, the province has applied “one-stop policies” for businesses. The formalities for an investment project take no more than 15 days (for those requiring no evaluation) and 25 days (requiring evaluation).  In most of the cases it is even faster than that, even in only three days. The province also focuses on land clearance to accelerate project implementation.

 

Cao Bang will make greater efforts to welcome investors and expects to receive their comments and contributions to ensure successful investment and the prosperity of “beautiful Cao Bang”.

 

-          Welcoming investors with the most favourable conditions for investment implementation and operation.

-          Assisting investors in finding locations, conducting administrative formalities and renting land.

-          Ensuring investors preferential treatment by central and local authorities.

-          Providing investors infrastructure for projects in industrial zones and centres.