The provincial People's Committee said on November 13 that it had approved investment proposals for five industrial parks: Phu Xuan, Phu Xuan 1, Vo Lao, Cam Duong and Ban Qua.
The projects cover a combined area of more than 1,255ha and have total investment capital of nearly VND 14 trillion.
Once completed and operational, the industrial parks are expected to generate between 35,000 and 40,000 jobs.
The developments are seen as an important driver of the shift in employment from agriculture to industry and services, while creating more local job opportunities for residents.
Of the five projects, construction of Phu Xuan and Phu Xuan 1 industrial parks officially began on August 26, 2026. Both are expected to become operational in the first quarter of 2028.
The largest project is Vo Lao Industrial Park, covering 482.6ha with an investment of more than VND 5.171 trillion (approximately USD 201.7 million).
Cam Duong Industrial Park spans 196.3ha and has an investment of nearly VND 1.996 trillion (approximately USD 77.9 million).
The first phase of Ban Qua Industrial Park covers 76.39ha, with investment exceeding VND 1.36 trillion (approximately USD 53 million).
The Lao Cai People's Committee said the employment opportunities generated by the industrial parks would extend beyond factory jobs to services, transport, logistics, trade and industries supporting manufacturing.