Completing the legal framework and preparing for agreement negotiations

On the morning of May 28th, the Quang Tri Provincial People's Committee held a meeting of the Standing Committee of the Steering Committee for the development of the Lao Bao - Densavan Cross-Border Economic Zone Project and the Quang Tri Province Free Trade Zone Pilot Project to hear reports on implementation progress, review, and finalize related contents. Mr. Le Duc Tien, Vice Chairman of the Quang Tri Provincial People's Committee and Head of the Steering Committees, chaired the meeting.

According to a report from the Quang Tri Provincial Economic Zone Management Board, in the past period, the unit has coordinated with departments and agencies to review and supplement many important contents to serve the preparation for negotiating the pilot agreement on the construction of the Lao Bao - Densavan cross-border trade economic zone.

The content focuses on preferential mechanisms and specific policies regarding trade, investment, logistics, and import/export; assessing the current state of border gate infrastructure, warehouses, digital infrastructure, and transportation connectivity; and reviewing the legal basis and researching land mechanisms for implementing cross-border economic zone models.

The People's Committee of Quang Tri province held a meeting of the Standing Committee of the Steering Committee for the development of the Lao Bao - Densavan Cross-Border Economic and Trade Zone Project and the pilot project for the Quang Tri Province Free Trade Zone

The project development process involved several steps, including gathering feedback from central ministries and agencies, experts, and local authorities in Vietnam and Laos. The Quang Tri Provincial People's Committee also organized numerous workshops and consultation meetings to incorporate feedback, provide explanations, and finalize the draft project.

The Ministry of Finance has submitted a report to the Prime Minister, requesting that Quang Tri province continue to review and clarify the objectives, development model, policy mechanisms, resource mobilization plans, and legal basis to ensure feasibility during implementation.

Regarding the pilot project for the Quang Tri Free Trade Zone, the locality has completed the steps of establishing the Steering Committee, the working group, issuing operating regulations, and selecting a consulting unit to develop the project proposal. Currently, the Academy of Policy and Development is coordinating with relevant departments and agencies to conduct field surveys, collect data, and develop the project's content framework in many key areas of the province and connecting points along the East-West Economic Corridor (EWEC).

Opinions at the meeting indicated that both projects received close attention and guidance from the Central Government, the Provincial Party Committee, and the People's Committee of Quang Tri province. However, these are new models involving many fields, requiring specific policy mechanisms, large investment resources, and high competitiveness.

Regarding the Lao Bao - Densavan cross-border trade zone project, delegates suggested that the Quang Tri Provincial People's Committee consider hiring a consulting firm and allocating funds to further refine the project; and at the same time, review and fully update the contents according to the direction of the Ministry of Finance. During the project development process, it is necessary to clearly define the general principles in the Agreement between the two countries to serve as a basis for building mechanisms and policies suitable for practical implementation.

Regarding the pilot project for free trade zones, delegates requested that the implementation location be determined soon to provide a basis for developing a feasible and consistent project proposal.

Speaking at the meeting, Vice Chairman of the Quang Tri Provincial People's Committee Le Duc Tien emphasized the significance of the Lao Bao - Densavan Cross-Border Economic Zone Project, and requested the members of the Steering Committee to continue to coordinate closely and promptly complete the dossiers and contents of the projects in accordance with the requirements of the Ministry of Finance and other central ministries and agencies.

According to Mr. Le Duc Tien, relevant agencies need to proactively review mechanisms and policies to ensure feasibility and consistency in the implementation process. Initially, the province will focus on completing the legal framework and preparing the necessary content for negotiating the Agreement.

Regarding the pilot project for the Free Trade Zone, the Vice Chairman of the Provincial People's Committee requested that the members of the Steering Committee and the consulting unit refer to and build upon the experiences of other localities. At the same time, they should focus on surveying and researching to quickly develop and finalize the project in a way that is suitable to the potential, advantages, and practical conditions of Quang Tri province.

The leaders of the Provincial People's Committee also requested relevant departments and units to provide maximum support to the consulting unit in order to quickly finalize the project framework for submission to the Steering Committee for consideration and feedback.

Unlocking new growth drivers for Quang Tri

The development of the Free Trade Zone Project is seen as a strategic step to expand the economic development space of Quang Tri in the new phase.

According to many domestic and international experts, the formation of a free trade zone requires the convergence of conditions such as deep-water seaports, international land border crossings, a connected transportation system, and a sufficiently large supply chain. After Hai Phong and Ho Chi Minh City, Quang Tri is considered to have many advantages for developing this model linked to regional and international supply chains.

In particular, with the My Thuy seaport expected to become operational in 2026, the end point of the East-West Economic Corridor will be directly connected to a deep-water seaport, creating significant opportunities for logistics, import and export, and international cargo transshipment.

My Thuy International Seaport

Following the directives of the Central Committee, the Standing Committee of the Quang Tri Provincial Party Committee assigned the Provincial Party Committee's Propaganda and Mass Mobilization Department to lead a provincial-level scientific research project on the formation of a free trade zone in Quang Tri. At the same time, it assigned the Provincial People's Committee to develop a proposal to be submitted to the competent authorities for consideration of a pilot model of a free trade zone and a "duty-free port" associated with the My Thuy seaport and the international land border gate.

Simultaneously, My Thuy International Port Joint Venture Company is also researching a supply chain linking My Thuy seaport with the two-way flow of goods on the East-West Economic Corridor, aiming towards a model of "duty-free port - free trade zone - smart supply chain".

Along with the pilot implementation of the Lao Bao - Densavan cross-border trade economic zone, as per the policy of the Politburo and Government of Vietnam and Laos, the formation of a free trade zone in Quang Tri is expected to create new appeal for strategic domestic and foreign investors, thereby opening up new growth drivers for the locality in the coming time.

Regarding the pilot project for the Free Trade Zone, Mr. Le Duc Tien, Vice Chairman of the Quang Tri Provincial People's Committee, requested that the members of the Steering Committee and the consulting unit refer to and build upon the projects of other localities, while focusing their efforts and intellect on conducting surveys and research to quickly develop and finalize projects that are suitable to the potential, strengths, and practical conditions of Quang Tri province. He also requested that relevant departments and units provide maximum support in all aspects to the consulting unit, determined to quickly finalize the project framework for submission to the Steering Committee for consideration and feedback.

Source: https://www.vietnam.vn/