Quang Tri plans to boost Lao Bao as economic growth engine

Quang Tri province will submit the adjusted plan for the Lao Bao Special Economic-Trade Zone to the Ministry of Construction for appraisal and then to the Prime Minister for consideration and approval in the first quarter of 2025, expecting to complete the plan within the year.

The adjusted plan covers an area of 15,804 ha, covering two towns and five communes in the central province's Huong Hoa district, which borders Laos. 

Established in 1998, the trade zone is one of the eight key border economic zones in the country. The Prime Minister has agreed to prioritize investment and development from the state budget for the zone during the 2021-2025 period.

This comprehensive economic model functions as an industrial park, export processing zone, border economic zone, and a "special non-tariff zone," where pilot mechanisms and policies with the highest level of incentives according to current Vietnamese law and international treaties that Vietnam has signed or acceded to will be applied. To date, the zone has attracted approximately VND3.7 trillion ($144.5 million) from businesses to invest in around 60 production and business projects.

According to provincial leaders, the adjustment of the Lao Bao Special Economic-Trade Zone plan to 2045 is a pressing task aimed at socio-economic development, ensuring national defense and security, and aligning with the planning of the North Central and Central Coast region, as well as the province's development planning for the period 2021-2030, with a vision to 2050.

Additionally, the goal is to build this area into a dynamic and sustainable economic growth pole for the province, in line with Vietnam's border economic development strategy. This is particularly crucial in the era of international economic integration, with an aim towards forming a joint cross-border Lao Bao (Quang Tri, Vietnam) - Densavan (Savannakhet, Laos) Economic-Trade Zone.