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HÀ NỘI —The northern mountainous province of Lào Cai plans to build the Kim Thành border market and a trade centre to attract investment.
The provincial People’s Committee has just proposed the project, considering it as an important source to develop a centre for goods exchange on the border with China and motivation for local economic development.
Aiming to be built with modern facilities, the market and the centre are expected to renovate and improve the efficiency of trading in the local area and attract more businesses.
It will also promote the development of e-commerce, creating conditions for trading and exchanging goods between border residents, while preventing smuggling and trade fraud.
According to the project, they will build three different zones including a zone for fairs and a showroom for regular product, a zone for border residents’ markets and a zone for wholesale markets for agricultural and aquatic products.
The first zone will be built in the current Kim Thành Exhibition and Convention Center covering 2.69ha while the second one will be built over 2.4ha where an e-commerce trading floor and e-commerce checking and delivery area also exist.
To the west of zone 1 on an area of 6.2ha, zone 3 will host a wholesale market for agricultural and aquatic products for domestic consumption, import and export.
Lào Cai expected to call for investment of VNĐ200 billion (US$8.6 million) and finish the building in the 2020-22 period through land lease auctions.
Local provinces bordering China, such as Quảng Ninh and Lạng Sơn, have formed pairs of border markets for trade promotion which have proved effective in promoting the activities of goods exchange, trade and import and export. — VNS
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