Construction of Lao Bao - Densavan cross-border economic and trade zone

Quang Tri Provincial Government and Savannakhet want to build a cross-border economic and trade zone Lao Bao - Densavan for mutual development.

On March 15, the workshop "Lao Bao - Densavan Cross-Border Economic Zone: From Idea to Reality" was jointly organized by Quang Tri province and Savannakhet province (Laos). The workshop attracted more than 300 delegates from Lao and Vietnamese enterprises.

Lao Bao - Densavan border gate area. Photo: Vo Thanh

The idea and plan to establish a common cross-border economic and trade zone of Densavan - Lao Bao has been planned by Quang Tri and Savannakhet provinces for a long time. The two localities expect it to create momentum for socio-economic development of the two provinces, connect border economic zones, and promote trade and investment.

Mr. Tran Dinh Thien, former Director of the Vietnam Economic Institute, pointed out that the official establishment of the Lao Bao - Densavan economic zone will become a symbol of cooperation between Laos and Vietnam. With the projects that Quang Tri plans to implement such as Quang Tri airport, My Thuy seaport, Lao Bao - Cam Lo highway, it will promote the development of the cross-border economic and trade zone. He said that if the economic zone is formed, there should be special mechanisms and policies for businesses to attract investment.

More than 300 businesses attended the workshop. Photo: Vo Thanh

Mr. Ha Sy Dong, Vice Chairman of Quang Tri Province, said that the establishment of the Lao Bao - Densavan cross-border economic zone will strongly attract investors, creating favorable conditions for enterprises in production and business activities. The cross-border economic and trade zone will aim at a new model of "Free Trade Zone", which is to form "new generation" international logistics centers, "green development" industrial parks, and smart and creative urban areas.

"The success of the pilot model will be a lesson and basis for replication in border areas along the Vietnam-Laos border," said Mr. Dong.

Lao Bao Economic and Commercial Zone in Huong Hoa district was established in 1998, located close to the border with Laos, trading through Lao Bao border gate.

Vo Thanh

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