Ministry proposes solutions to develop border trade
Ministry proposes solutions to develop border trade
Minister of Industry and Trade Nguyen Hong Dien has put forward several measures to boost the development of border trade.
Speaking at an online meeting between relevant ministries and 25 border provinces on Monday, Dien suggested border localities build strategies and plans for industrial and commercial development in the 2021-30 period; study, propose or promulgate policies to attract investment in socio-economic infrastructure; and prioritise investment in infrastructure in the fields of transportation, electricity, water, telecommunications, trade and services.
Localities should take the initiative in proposing upgrades to and opening of new pairs of border gates, gradually eliminate trading through unofficial channels, and build mechanisms and policies to attract large domestic and foreign industrial enterprises.
The minister also proposed regular communication between the Ministry of Industry and Trade and the 25 border provinces to promptly report any problems to the Government.
Le Hoang Oanh, Director of the Asia-Africa Market Department under the Ministry of Industry and Trade, said that despite the impact of the COVID-19 pandemic, border provinces have been able to ensure both security and pandemic prevention and control, while maintaining economic development.
In 2020, 15 out of 25 border provinces reported growth rates higher than the national average, and the number rose to 20 in the first six months of 2021. Cross-border relations are maintained and several infrastructure works serving industrial and commercial development here have been formed.
However, the border areas still face many difficulties in economic development due to the low starting point. Border trade turnover reached US$30 billion in 2020, accounting for only 5.5 per cent of the country’s total trade turnover.
