The Steering Board of Northwestern Region, the Ministry of Planning and Investment, the Committee o­n Ethnic Minority Affairs, the People’s Committee of the provinces of Lao Cai, Yen Bai, Phu Tho, Dien Bien, Lai Chau and Ha Giang, and the Vietnam Investment Development Bank jointly organized a Forum o­n Investment Promotion in the Northwestern Provinces, which was recently held in Lao Cai during the middle of October, 2008.
The Forum aimed to draw more attention from the Government and support from localities and organization, as well as to attract foreign and local investors to the region with its various and unexploited potentials.
On this occasion, a reporter of the Communist Party of Vietnam Newspaper o­nline interviewed Karl Derek John, Chairman of TCK Group, and Kamal Sogani, General Director of R.K Marble Vietnam Ltd., about the investment prospects of the Northwestern Region. Here is the full text of their interviews:

Reporter: Can you tell me how you assess the potential of the Northwestern provinces in Vietnam?

Karl Derek John: The Northwest area of Vietnam has a lot of potential and my company has o­ne project in Sapa; we’re building a resort here. So we believe in Vietnam. I’ve been living here for six years. I understand Vietnam well. I love Vietnam.

Kamal Sogani: This forum helps to boost the confidence of investors to invest in the Northwestern provinces in Vietnam. So, I think in the long-term this forum will be a great success.

Reporter: Can you assess the results of this forum?

Karl Derek John: It’s very early but I think there’s a lot of good things happening in this area and this conference can help to explain to everyone what is going o­n.

Reporter: Will you decide to invest into the Northwest provinces after this forum?

Karl Derek John: Well, my company already has got o­ne project, o­ne resort project here. And through another company we represent other foreign companies who are looking to invest into Vietnam. So I have a better understand of the region than others, so I can help the investors here and can understand more from this conference.

Reporter: The Northwestern provinces of Vietnam have a lot of potential. Will you tell your friends and partners to invest into this area?

Karl Derek John: Yes, I believe there is a lot of potential here. And I think through this conference I can understand more. So, if I have investors who are interested in the kind of opportunity that this region can give, I will recommend it.

Kamal Sogani: Yes, of course. The policies are very encouraging. But there are some limitations, and hopefully the provinces of the Northwest are concerned about these shortcomings, and the poor infrastructure in this region. But they are making efforts to increase the infrastructure.And there is a lot of potential here. Certainly, I will recommend to my friends and associates to think about investing here.

Reporter: As a foreigner, can you give some advice o­n how the Northwestern provinces can attract more foreign investors?

Karl Derek John: I think the region suffers from common problems in Vietnam. The administrative system needs to be simplified. I think there have been some improvements, but we need to see more improvements. And I think information is very important.
You know, when you are making an investment decision, you really need to get information easily. I’ve been here in Vietnam for six years and I know getting information is not easy.
So if there is some way to simplify the process and get information that will be very good. Because you know people make investment decisions based o­n information

Kamal Sogani: Well, first of all is the poor infrastructure, it needs to be improved, made stronger. The road network, the rail network, the air network are very poor, and especially the lack of electricity and skilled labour. These are the main shortcomings, and the government should think about this. If they improve the infrastructure, investment will automatically come into the region.

Reporter: Thank you very much.

The Northwestern Region – Vietnam, which shares a border with both Laos and China, is a centre of trade and an important co-operation area among the Greater Mekong Sub-Region Countries (GMS). With an area of approximately 60,000 km², and the population of over 5 million inhabitants; it is endowed with numerous potentials and advantages of natural resources like climate, land, rivers and precious and scarce minerals at significant reserves, etc. As well, it possesses an age-old culture imbued with the national identity of the mountainous areas, which facilitates its economic development, with a gradually raising living standard among the region’s inhabitants.