Lai Chau asked to call on strategic investor in rare earth element mines

14:19 | 01/10/2017 Investment

Deputy Prime Minister Truong Hoa Binh has requested that Lai Chau province call on strategic investors to invest in rare earth element mines towards deep processing and environmental protection.

Deputy PM Truong Hoa Binh speaks at the meeting

Politburo member and Deputy PM Truong Hoa Binh made the requirement at a working session with leaders of Lai Chau province on socio-economic development and defence security in the locality, on September 25.

At the working session, Chairman of the provincial People's Committee Do Ngoc Anh said that the province posted a Gross Regional Domestic Product (GRDP) of over VND6.86 trillion (US$301.84 million) in 2016 and a total budget revenue of over VND1.86 trillion (US$81.84 million), up 87% over the same period in 2015.

He also noted that the poverty rate was reduced to 34.8% in 2016, a decrease of 5.59% compared to 2015.

Particularly, the province has completed the relocation and settlement of over 9,000 local households affected by Son La, Lai Chau, Huoi Quang and Ban Chat hydroelectricity projects.

Deputy PM Binh said that Lai Chau is still among one of the poorest provinces in the country, with instable economic growth and a low standard of living.

Therefore, the Deputy PM asked the province to make greater efforts to achieve the set socio-economic development targets, including the acceleration of disbursement of investment projects and restructuring of the agriculture sector.

The province should call on investors in areas of its strength, particularly the mining industry, tourism and agriculture.

The Deputy PM also instructed the province to pay greater attention to social issues, particularly vocational training, education and health to contribute to reducing the poverty rate.

The Lai Chau authorities also suggested that the Government support the province in dealing with cross-border smuggling, trade fraud and crimes, while providing the province with further capital to develop its transport infrastructure, policies towards ethnic minority groups, vocational training, and others.

Deputy PM Binh accepted the suggestions from the local authorities and asked the related central ministries and sectors to discuss and put forth appropriate measures.

Theo NDO