Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade BCHUSD, Bitcoin and Cryptocurrencies

BUY & SELL BCHUSD | View BCHUSD News & Updates

Buy Sell BCHUSD, Bitcoin and Cryptocurrencies

Economic corridor plan approved   2008-07-17 - Viet Nam News

The Prime Minister has given the go ahead to develop the economic corridor with China

Prime Minister Nguyen Tan Dung has approved a plan to develop the economic corridor of Lang Son – Hanoi – Hai Phong – Quang Ninh to 2020.

Workers build generator No1 of Quang Ninh thermo-electric plant. The Prime Minister has approved a plan to develop the economic corridor in Quang Ninh Province.

The development of the corridor was based on shared viewpoints between Chinese and Vietnamese leaders, for the development of "two corridors, one economic belt" between Vietnam and China, with further orientation to link with other ASEAN and European countries.

According to the PM’s decision, the development of this corridor falls within Vietnam and China’s shared economic and trade co-operation framework. The agreement was drawn based on the principle of mutual benefit, and that the development will not impact the investment environment, co-operation and relations of each country with other countries.

The project aims to raise the GDP of cities and provinces in the corridor to 1.2-1.4 times higher than the average national level. Other goals are to raise the total import-export turnover via the corridor by more than 20 per cent annually to US$2 billion in 2010, $4.5-5 billion by 2015 and more than $10 billion by 2020.

There will be three pairs of international border gates, four pairs of main border gates between Vietnam and China, and 13 pairs of border markets along the Vietnam-China border.

An economic co-operation zone between the cities of Dong Dang in Vietnam and Pingxiang in China is included in the plan, along with an entrepot in Bac Giang Province.

Hanoi will be developed as an international city, functioning as the capital city for Vietnam’s projected 100 million residents, and a key economic centre of the corridor.

Hai Phong will be developed as an important port city in the corridor.

A six-lane expressway linking Hanoi with Huu Nghi Quan border gate in Lang Son Province will be built at an estimated $1.4 billion.

A highway linking Noi Bai international airport with Ha Long City is also included in the plans, at a length of 114km.

Pha Lai port will be built as a vital port in the corridor’s waterways.

The deep-sea port of Lach Huyen in Hai Phong is set to be built this year, with a planned annual capacity of 25 million tonnes by 2010 and 40 million tonnes by 2020.

To boost trade liberalisation along the economic corridor, the two countries will implement a pilot model of "one time customs clearance" at the Huu Nghi border gate.

The "two corridors, one economic belt" between Vietnam and China has been in development at the initiatives of the two countries’ leaders since May 2005.

The economic belt includes Hai Phong City and Quang Ninh Province in Vietnam and Hainnan Province and Guangxi Zhuang Autonomous Region in China.

The two economic corridors are the Kunming (China) – Lao Cai – Hanoi – Hai Phong – Quang Ninh corridor, and the Nanning (China) – Lang Son – Hanoi – Hai Phong – Quang Ninh corridor.

The "two corridors, one economic belt" model has opened a new development direction for economic and trade co-operation between the two countries, taking advantage of exports from both sides. These include rubber, fisheries, fruits and vegetables, coal, crude oil and furniture from Vietnam and petrol, products to serve agriculture, steel, and equipment from China.

Other news

BUSINESS IN BRIEF 17/7   2008-07-17

Exchange rate may be VND17,200/US$1 at the highest   2008-07-17

Bach Tuyet Cotton Corp’s magic turns loss into profit   2008-07-17

No worry about high VND/US$ exchange rate   2008-07-17

CPI to slow down between 1.5 -1.7% in remain months   2008-07-17

More and more bank securities firms equitising   2008-07-17

Tra and basa catfish export turnover estimated at US$1.2 bil this year   2008-07-17

Interest rates decreasing, quietly   2008-07-17

Another bank director dismissed for interest rate impropriety   2008-07-17

US assists with textile development   2008-07-17

Gold fails to crack global market   2008-07-17

Tra fish problem needs to be settled to the roots   2008-07-16

Rally continues for Vietnam exchange   2008-07-16

Cotton maker revival chances shrink, CEO walks out of meeting   2008-07-15