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June 21, 2007

Chinese investment dominates in Lao Cai province
Making the most of their close geographical proximity to the northern border province of Lao Cai Chinese businesses have been quick to dominate the volume and scope of foreign direct invested (FDI) projects in the Lao Cai area.

To date Chinese firms make up 78.4% of all FDI businesses in Lao Cai with a registered capital of US$229.35 million or 90.4% of all FDI investment.

China’s bordering province of Yunnan emerged as the biggest investor by pouring US$220.5 million into Lao Cai with two 2006 initiatives alone being worth US$203.5 million.

These two included a minerals and metallurgy joint venture with an investment of US$175 million and a US$28.5 million in electricity investment.

In the first half of this year, the Lao Cai administration approved in principle five other FDI projects from Yunnan investors, covering agriculture, industry and healthcare. VNA

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