MOIT VIETNAM | Linking Economic and Social Development of Five Localities in Vietnam, Laos, and Thailand along the East-West Economic Corridor
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Linking Economic and Social Development of Five Localities in Vietnam, Laos, and Thailand along the East-West Economic Corridor
In his remarks at the conference, Chairman of the Da Nang People's Committee Le Trung Chinh highlighted that the exploitation of each locality's potential and advantages along EWEC 2 has become increasingly effective in recent times. This has contributed to socio-economic development, connected world cultural heritage sites, and facilitated access to resources, land, and labor in these localities. It has also promoted cross-border trade and passenger and freight transport among the countries along the corridor, enhancing international trade. Additionally, the development of cross-border tourism has been strengthened, economic linkages have been established to improve competitiveness, and development has been accelerated.
However, there are still many limitations. The transportation infrastructure along the corridor remains inconsistent, with many areas deteriorating. Trade and goods exchange between localities are not yet vibrant, and tourism has not yet flourished. Furthermore, road transport costs are still high, administrative procedures between countries are not uniform and remain cumbersome, and coordination mechanisms between localities along the corridor still have inadequacies. To maximize the effectiveness of EWEC 2 in the future, Chairman Le Trung Chinh proposed several key solutions to promote socio-economic development along the East-West Economic Corridor 2.
Localities along the East-West Economic Corridor (EWEC) need to focus on improving road infrastructure, especially National Route 14D. They should also explore and propose to their governments the standardization of administrative procedures, customs, fees, and charges at border crossings. This would help reduce costs and transportation time, facilitating smoother cross-border tourism along the corridor. Locally, Chairman Le Trung Chinh stated that Da Nang will actively seek investment and work on building modern logistics infrastructure to lower costs and enhance the competitiveness of goods along EWEC. Additionally, Da Nang will intensify efforts to promote the logistics sector, connect investments with provinces in southern Laos, and expand its market reach to the Central Highlands and EWEC 2. "Da Nang will develop an information network (database) to provide logistics services to businesses within the city and other localities along EWEC. This system will help businesses access information on administrative procedures, tax rates, and import-export procedures relevant to their products," Chairman Le Trung Chinh affirmed.
He also encouraged Lao localities to propose attractive mechanisms and policies to attract Vietnamese investment in various sectors. Lao businesses should enhance the exchange of goods and supply materials and agricultural products to Vietnam. Furthermore, Da Nang will strengthen its activities to link and cooperate on investment, trade, and tourism with Ubon Ratchathani Province in the near future. According to Chairman Lê Trung Chinh, to boost cross-border tourism and improve connectivity between local tourist destinations along the corridor, travel companies from these localities should actively promote destinations, develop travel routes, and focus on ecological, leisure, cultural, historical, and community-based tourism. The southern region of Laos plays a key role in connecting the major tourist areas of Thừa Thiên Huế, Da Nang, and Quảng Nam with northeastern Thailand via Ubon Ratchathani, which holds great potential for developing these tourism types. Da Nang will continue to collaborate with Quảng Nam Province to organize trade and investment promotion missions to southern Laos and Ubon Ratchathani in Thailand, contributing to the socio-economic development of the five localities across the three countries—Vietnam, Laos, and Thailand—along the East-West Economic Corridor.
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