New economic corridor leading to China takes shape

16/07/2008 -- 10:51 AM

Hanoi (VNA)- Hanoi , Haiphong port city, Quang Ninh province and the northern border province of Lang Son will form a dynamic economic corridor under a new development plan. The scheme for up to 2020 aims to increase the corridor’s GDP growth rates by between 1.2 and 1.4 times over the national average. Imports-exports annual revenues conducted through the corridor are expected to grow by 20 percent on average to an estimated 2 billion USD by 2010, 4.5-5 billion USD by 2015 and over 10 billion USD by 2020. The project calls for building three pairs of international border gates, four pairs of major national border gates and 13 pairs of border markets on both sides of the borderline with China. Also scheduled for construction will be a Dong Dang-Pingxiang border economic zone, several shopping centres and tourist sites along the corridor as well as bonded warehouses in Bac Giang province. Hanoi will be upgraded into an international metropolis and a major economic hub of the corridor. Traffic systems with three major highways and an international railway system will absorb huge investments to ensure the corridor’s success. The Hanoi-Huu Nghi Quan (Friendship Gate) (in Lang Son province) road express with six lanes will be built at a cost estimated at 1.4 billion USD while nearly 1.2 billion USD will be invested in the Hanoi-Haiphong road express also with six lanes. Another expressway will be built to link the Noi Bai international airport in Hanoi with Ha Long city, a UNESCO-recognised world cultural heritage site. In an effort to boost trade liberalisation in the corridor, Vietnam and China have agreed to implement a “one-desk” customs procedure at the Huu Nghi Border Gate. Vietnam will also cooperate with China in building an international railway linking the corridor with China ’s Nanning . Construction will start this year on the Lach Huyen deep-water seaport in Haiphong with a design capacity of 25 million tonnes of cargo a year by 2010 and 40 million tonnes by 2020. The new economic corridor is part of the “two corridors, one economic belt” programme between Vietnam and China to boost economic and commercial ties in the principle of respecting each other’s independence, sovereignty and territorial integrity while endorsing equality and mutual interest.-Enditem
Send this page	Print

Vietnam Airlines cuts down expenses (16/07/2008)

Gold prices on rising trend (16/07/2008)

Rally continues for Vietnam exchange (16/07/2008)

Samsung insurer explores Vietnam market (15/07/2008)

Sixth province launches business portal (15/07/2008)

Seminar helps boost exports to Hungary (15/07/2008)

Vietnam’s e-Gov index increases 16 points (15/07/2008)

Import value to reach 80.2 billion USD (15/07/2008)

466 million USD aluminium processing factory to be built (15/07/2008)

Dai-ichi Life Vietnam collects premiums through post offices (15/07/2008)