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Tue, 03/12/2024 - 14:46
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Vietnamese, Lao provinces consider building joint cross-border economic zone

Hanoi, March 12 (VNA) – Building the Lao Bao - Densavan joint cross-border economic and trade zone between Vietnam and Laos is one of the key projects that the central province of Quang Tri is implementing, according to Permanent Vice Chairman of the provincial People’s Committee Ha Sy Dong.

In an interview granted to the Vietnam News Agency, Dong said that on the 2,067km-long Vietnam - Laos border, there are currently eight pairs of international border gates, of which Quang Tri province alone has two - Lao Bao and La Lay.

Also along this borderline, only in the Lao Bao - Densavan border gate area, two symmetrical economic zones: Lao Bao Special Economic - Trade Zone and Densavan Border Trade Zone have been set up. This is a favourable condition for the two provinces of Quang Tri and Savannakhet to propose to the two governments to allow the pilot building of the Lao Bao - Densavan joint cross-border economic and trade zone, thereby opening up cooperation in many areas between Vietnam and Laos.

He said that in the draft project on the zone, the two sides will build a model of "two countries, one economic zone", which shares the same mechanisms, policies and operational management, and has special preferential policies with the principle of equality and mutual benefit, and respects each other's independence, sovereignty and territorial integrity.

Based on compliance with legal requirements of both sides and international practices, the zone will be unified in a common regional planning, organisation and operation. The area will have the same policies, rules and standards, and apply the highest preferential mechanisms and policies.

To prepare for the project, Quang Tri is mobilising and attracting investment to develop transport infrastructure connecting the delta area to Lao Bao International Border Gate, including the 56-km Cam Lo – Lao Bao expressway whose investment is estimated at nearly 14 trillion VND (568 million USD).

In the future, the province will also consider building the Dong Ha - Lao Bao railway to be linked with the Densavan - Savannakhet railway of Laos, thereby forming a railway on the East West Economic Corridor (EWEC).

To complete the project, in mid-March, Quang Tri and Savannakhet provinces will jointly organise an international conference at the Lao Bao - Densavan International Border Gate to conduct field surveys with the participation of scientists, managers, leaders of ministries and sectors of the two countries, added Dong./.