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Promoting Vietnam-China economic corridor development

Measures to boost cooperation between Vietnamese and Chinese enterprises in the Kunming-Lao Cai-Hanoi and Hai Phong economic corridor were discussed at a seminar in Sa Pa, northern Lao Cai province on December 2.

The seminar, which drew the participation of nearly 150 scientists, economic researchers and businesses from Vietnam and China, received many papers on how to accelerate economic development along the corridor in the new context.

In the past year, the Kunming-Lao Cai-Hanoi-Hai Phong economic corridor has seen a big leap in economic development activities, including an increasing number of signed contracts and goods exchanges. Total revenue through the Lao Cai international border gate has hit VND700 billion – the highest figure so far.

In the coming period, the two countries will put forward a framework agreement which will pave the way for the opening of international border gates, national gates and sub-gates along the economic corridor. The agreement is expected to streamline procedures for import-export activities, tax collection, quarantine, customs declaration and goods checking. It will also propose international payment methods to ensure these methods are conducted in a quick, accurate and less risky manner.

Lao Cai, a key locality in the economic corridor, is applying all possible solutions to encourage investment. Nguyen Huu Van, chairman of the Lao Cai provincial People’s Committee, expressed his hope that participants in the seminar will propose concrete and specific measures to submit to the two Governments so that the economic corridor will perform more effectively for the benefits of the two peoples and friendly neighbourliness. (VOV)

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