Vietnam to set up 4 economic zones at China border
Vietnam to set up 4 economic zones at China border
Vietnam will open four new economic zones along the border of China by 2020, a ministry official said Wednesday.
Vietnam’s Ministry of Industry and Trade and China’s Ministry of Commerce have signed a memorandum of understanding on the plan, Hoang Minh Tuan, chief of the ministry’s agency in charge of boosting trade at the mountainous areas, told a forum on promoting trade across the border on Wednesday.
Three of the zones will be located near the international border gates. These include the Dong Dang (Lang Son) - Pingxiang (Guangxi), Mong Cai (Quang Ninh) – Dongxing (Guangxi), and Lao Cai (Lao Cai) - Hekou (Yunnan).
The remaining economic zone will be established at the Vietnam – China border gate of Tra Linh (Cao Bang) – Longbang (Guangxi).
These cross-border economic zones are expected to turn the country’s mountainous areas into an economic, commercial, and service hub in the integration progress between the ASEAN and China.
The construction plan is expected to be carried out between 2014 and 2020.
The project will need some US$2 million for planning and development, and $200 million for hard infrastructure construction from the Vietnam side.
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