Ministry proposes solutions to develop border trade
Minister of Industry and Trade Nguyen Hong Dien on August 16 put forward several measures that need to be done in the coming times to boost the development of border trade.
Kim Thanh II International Border Gate in Lao Cai province which borders China (Photo: VNA)Speaking at an online meeting between relevant ministries and 25 border provinces, Dien suggested border localities build strategies and plans for industrial and commercial development in the 2021-2030 period with a vision to 2045; study, propose policies or promulgate local policies to attract investment in socio-economic infrastructure; and prioritize investment in infrastructure in the fields of transportation, electricity, water, telecommunications, trade and services.
Localities should take initiative in proposing the upgrading 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 applying regular communication between the Ministry of Industry and Trade and 25 border provinces to promptly report any arising problem to the Government for timely settlement.
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 defence 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 6 months of 2021. Cross-border relations are well maintained and several infrastructure works serving industrial and commercial development here have been formed.
However, the border areas still faces many difficulties in economic development due to the low starting point. Border trade turnover only reached 30 billion USD in 2020, accounting for only 5.5 percent of the country’s total trade turnover./.
You should also see
Energy industry needs nearly 5 trillion VND of investment in 2021-2030
The total investment capital demand for the whole energy sector in the 2021-2030 period is between 4.13-4.8 trillion VND (163.01-189.46 million USD), according to a plan to implement the National Power Planning in the 2021-2030 period with a vision to 2050.
See more
Business
Long An, Japan's Okayama city explore cooperation opportunities
Leaders of Vietnam’s southern Long An province and Japan’s Okayama city engaged in a dialogue on April 26 to discuss cooperation between the two localities.
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pook of both domestic and international investors for socio-economic development.
Business
Vietnam’s rice exports may exceed 2024 target
With positive results recorded so far, Vietnam can exceed its target of 7.6 million tonnes in rice export volume set for 2024, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, said at a conference in the Mekong Delta city of Can Tho on April 26.
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
