Quang Tri, Savannakhet to build a cross-border economic and trade zone

The cross-border economic and trade zone will become a symbol of Laos-Vietnam cooperation, promoting trade between the two countries.

Conferrence on Lao Bao-Densavan Joint Cross-Border Economic and Trade Zone - Photo: Tran Tuyen

The governments of Savannakhet and Quang Tri provinces have planned to build the Densavan-Lao Bao joint cross-border economic and trade zone, connecting economic zones at the border, promoting trade and investment, and creating motivation for socio-economic development.

The two provinces have set up working groups to push up the project. In particular, Savannakhet Province established working group 3399 for this task, replacing the previous working group 1626.

The Government of Savannakhet Province and Sankae Consulting Group have signed a contract to build a research report on socio-economic development strategies, creating a premise for establishing the planning of economic zones in the province.

Standing Vice Chairman of the Provincial People’s Committee Ha Sy Dong presented souvenirs to conference delegates - Photo: Tran Tuyen

Savannakhet has conducted many consulting sessions on building mechanisms and policies to support businesses operating in the joint cross-border economic and trade zone. The consultation sessions mentioned the model for establishing economic zones, additional funding sources for infrastructure construction, and promotion policies, including implementation roadmaps and adjustments based on the opinions of relevant ministries.

Regarding the establishment of the Densavan-Lao Bao Joint Cross-Border Economic and Trade Zone, the Savannakhet Provincial Government Committee recognizes the importance of high consensus in the establishment process. It is willing to assist partners in creating the Densavan-Lao Bao joint cross-border economic and trade zone project, turning this place into a symbol of Laos-Vietnam friendship, promoting economic cooperation, trade, investment and socio-economic development.

Visiting the Densavan border economic and trade zone model (Savannakhet province) - Photo: Tran Tuyen

However, according to Lao regulations, the project of a special economic zone must be approved by the Government and relevant local agencies and by the Agreement on national border management. Therefore, the Savannakhet Provincial Government Committee needs to receive the consent of relevant departments of the province and seek guidance from the Government before implementing the project.

On March 15, the People’s Committee of Quang Tri province and the Government Committee of Savannakhet province (Laos) organized a workshop on the Lao Bao-Densavan joint cross-border economic and trade zone, to promote cooperation between the two provinces and, at the same time discuss the establishment of this economic zone.

With high spirit and responsibility, the conference’s par successfully discussed the establishment of the Densavan - Lao Bao cross-border economic and trade zone, creating a strong foundation for the economic and social development of the two provinces.

Deputy Governor of Savannakhet Province (Laos)- Tung Lam