Lao Bao Special Economic-Commercial Zone attracts 50 investment projects

Da Nang (VNA) – The Lao Bao Special Economic-Commercial Zone in the central province of Quang Tri has attracted 50 investment projects with a total registered capital of 4 trillion VND (205.1 million USD).

Nguyen Van Binh, deputy head of the zone’s management board, said five of the
projects are wholly foreign-invested, with a combined capital of 640 billion VND
(32.8 million USD).

To date, about 810 billion VND (41.5 million USD) has been disbursed for 30
operational projects and 15 are still under construction.

Binh said the results are satisfactory after 11 years of the zone’s establishment,
especially at a time when there is limited capital for infrastructure development.

Foreign trade through the Lao Bao international border gate has increased
significantly with the development of the zone, said Binh. Import-export values last
year totalled 278 million USD, up 46 percent over the previous year.

“The zone is now considered as a driving economic force in Quang Tri
province,” he said. “It has also proven its role in taking advantage of the
East-West Economic Corridor.”

Lao Bao is set to contribute about 28 percent to Quang Tri’s total production
value and 35 percent to the province’s total foreign trade turnover by 2015. He
expected the zone to lure 10-15 investment projects every year over the next five
years.

Priorities for the zone’s development in the coming years should include improving
infrastructure, training human resources and boosting cooperation and communication
linkages with other countries in the region, especially Laos and Thailand , he
said.

“The Government should assure stability and consistent policies for the zone,
especially preferential treatment for investors and enterprises,” Binh suggested.
The zone’s area is expected to expand from 15,800ha to 18,200ha over the next 15
years, according to Binh.-Enditem