Lang Son Province Announces Investment Promotion Plan for 2024
At a recent conference, the People’s Committee of Lang Son Province unveiled its investment promotion plan for 2024. The plan aims to transform the province into a dynamic economic hub, attracting investment and solidifying its position as a strategic border gateway.
Economic Development and Growth
Lang Son’s economic growth has remained steady over the past decade. From 2011 to 2020, the Gross Regional Domestic Product (GRDP) expanded at an average rate of 5.32%. In 2023, the economy rebounded, with an estimated GRDP growth of 7.0%. The province’s primary industries, including agriculture, industry, and services, all contributed to this uptick.
Lang Son’s strategic location as a transit point between Vietnam, ASEAN, China, and Europe has played a crucial role in its economic development. The province is a key trade corridor for agricultural exports to China.
Investment Opportunities
At the conference, Lang Son announced 14 new investment projects with a total registered capital of 18,602 billion VND. Additionally, nine memoranda of understanding were signed with investors, representing a potential investment of 21,527 billion VND.
Future Prospects
The province’s development plan is driven by a vision to transform Lang Son into a leading economic center within the northern mountainous region of Vietnam. The plan aims to boost investment, enhance infrastructure, and promote sustainable development. Lang Son’s strategic location and its potential for economic growth make it an attractive destination for both domestic and international investors.
Key Economic Indicators
GDP Growth Rate: 5.32% (2011-2020)
GRDP Growth Rate: 7.0% (2023 estimated)
Total Investment: 18,602 billion VND (14 new projects)
Potential Investment: 21,527 billion VND (9 MoUs)
Export Value: 2,750 million USD (2023 estimated)
Revenue Budget: 7,700 billion VND (2023 estimated)
Expenditure Budget: 15,736 billion VND (2023 estimated)
Source: Lang Son Statistical Office
