The northern border province of Lang Son will develop its Dong Dang border- gate economic zone, which authorities hope will create new opportunities for investment projects.

The provincial People’s Committee recently publicised its decision to establish a management board for the zone, following a decision by Prime Minister Nguyen Tan Dung.

According to the decision, the zone will cover Lang Son City, Dong Dang and Cao Loc towns, and a number of communes in Cao Loc, Van Lang and Van Quan districts.

The new economic zone aims to help the region become a key economic area for such sectors as urban development, trade and services.

The zone development will be carried out in line with work on the key northern economic area so that after 2010, Lang Son will become one corner of the Lang Son Province -Ha Noi-Hai Phong City-Quang Ninh Province ‘economic quadrangle’.

The zone also aims to be a key part of the economic corridor along the Bac Bo (Tonkin) Gulf. It will be developed into a trading and services zone that helps boost imports and exports between Viet Nam and other ASEAN countries and China.

The zone is expected to help create an attractive investment environment; to develop production and boost the economic transformation of Lang Son Province. It also aims to raise border security and solve social problems by improving the material and spiritual life of local people as well as strengthening the Viet Nam- China co-operation on the economy, trade and services.

The Government is encouraging organisations and individuals (both domestic and foreign) to invest in and do business in the zone, with special emphasis on exports and imports, trade fairs and exhibitions, border – gate markets and investment in social infrastructure, housing, tourism and the financial and banking sector.

The zone will benefit from preferential policies for industrial zones, processing zones and economic zones.

Investment projects in the zone enjoy an enterprise income tax of 10 per cent, applied for 15 years after a project starts operations.

At present, a number of projects are being implemented in the province to keep pace with development of the border- gate economic zone.

One of these projects is the Phu Loc 4 urban area development project in Lang Son City, invested by the Ha Noi Real-Estate Corporation.

The urban area covers more than 40ha in Vinh Trai and Hoang Van Thu wards in Lang Son City. Launched in September 2005, the project has a total investment of more than VND2.5 trillion (US$ 143 million).

Another key project is the building of Phu Loc Trading Centre and Lang Son Market, with investment surpassing VND100 billion ($ 5.7 million). The trade centre will be based on 21,000sq.m and include more than 900 kiosks while creating thousands of jobs for local people.

According to the general director of the Ha Noi Real-Estate Corporation, To Duc Nhuan, the Lang Son Market located inside the Phu Loc Trading Centre aims to become one of the most modern and largest markets in the region.

“The corporation has invested VND6 billion to popularise and attract clients to the Phu Loc Trading Centre and Lang Son Market,” he said. (VNS)