Building Lao Cai into a hub for economic trade and connectivity between Vietnam and ASEAN countries with the Southwest – China region

Within the framework of the 23rd Vietnam-China International Trade Fair in 2023, Lao Cai province organized a conference on the development of logistics services in the region. Mr. Trinh Xuan Truong, Chairman of the People’s Committee of Lao Cai Province, emphasized the strategic location of Lao Cai on the economic corridor linking Kunming – Lao Cai – Hanoi – Hai Phong – Quang Ninh, a crucial gateway connecting ASEAN with Southwest China. Lao Cai aims to become a pivotal center for economic development in the Northern Midland and Mountainous region.

The Vietnam Exhibition Area

To establish Lao Cai as a trading hub between Vietnam and ASEAN, particularly with the Southwest and China regions, the province actively develops decisions, projects, and programs. This includes infrastructure investment, border economic and social planning, and the implementation of industrial and economic facilities suitable for the region.

Lao Cai commits to comprehensive investment in transportation infrastructure, attracting the development of processing industries related to logistics, and import-export activities. The goal is to make Lao Cai an attractive destination for businesses in logistics, logistics services, import-export, and both domestic and foreign investors.

At the conference, Ms. Phan Thi Thang, Deputy Minister of the Ministry of Industry and Trade, highlighted Lao Cai’s unique potential, comparative advantages, and outstanding opportunities. Lao Cai has diverse resources, making it capable of becoming a growth center in the Northern border region, connecting the economy between Vietnam and ASEAN with the Southwest – China region.

The International Vietnam-China Trade and Logistics Fair (in Lao Cai)

Deputy Minister of the Ministry of Industry and Trade emphasized that to effectively utilize potential, advantages, and promote sustainable development of the logistics industry, Lao Cai needs to deeply implement the viewpoints and directions in the Government’s Resolution on the development of Vietnam’s logistics services. They should focus on the development strategy of the Party, State, and Government for the Northern Midlands and Mountainous region, building suitable programs, plans, and projects for logistics service development.

To finance these initiatives, Lao Cai should prioritize the budget as “seed capital,” guide and attract reputable, capable, and experienced businesses and corporations to invest in and develop logistics infrastructure. They should particularly focus on attracting investment in developing logistics centers and new agricultural processing facilities, applying Industry 4.0 technology for efficient value addition and cost reduction.

To leverage the benefits of free trade agreements signed by Vietnam, promote exports, and create a source of goods and markets for logistics services, Mr. Hoa Dao, Director of the Hong Ha Trade Promotion Agency in Yunnan Province, China, expressed China’s desire to discuss with Vietnam policies and build a cross-border logistics route between China and Vietnam. He emphasized the vital role of the cross-border logistics industry in supporting international trade. The Hong Ha Trade Promotion Agency is committed to supporting the development of a modern logistics industry, focusing on the unique position of the border and cross-border areas. They prioritize building an international logistics service from Xuan Du – Dien Trung – Hong Ha (Ha Khau) – Vietnam to create a complete domestic and international supply chain, promoting mutual development.

China wishes to strengthen cooperation with Vietnam in cross-border e-commerce, cross-border logistics, trade exchange, and sharing experiences to enhance the trade development of both nations.

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