Chinese businesses have been quick to dominate the volume and scope of foreign direct invested (FDI) projects in the northern border province of Lao Cai.
To date Chinese firms have made up 78.4 percent of all FDI businesses in Lao Cai with a registered capital of US$229.35 million or 90.4 percent of total FDI investment.
China’s bordering province of Yunnan emerged as the biggest investor by pouring US$220.5 million into Lao Cai with two projects in 2006 worth US$203.5 million.
In the first half of this year, the Lao Cai authorities approved in principle five other FDI projects from Yunnan investors, focusing on agriculture, industry and healthcare.
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