Logistics promotes the development of the East-West economic corridor in the North Central region

Developing Logistics to exploit potential and advantages

The East-West Economic Corridor starts from Mae Sot (Thailand) and runs through Tak, Sukhothai, Kalasin, Phitsanulok, Khon Kaen, Yasothon and Mukdahan (Thailand), Savannakhet to Dansavanh border gate (Laos) and Vietnam.

Regarding the East-West Economic Corridor Development Strategy: linking countries and territories in the Greater Mekong Subregion (GMS) along the East-West economic transport corridor to use central Vietnam seaports as "in and out" gateways for imports and exports from Laos and Northeastern Thailand.

Mr. Peter Hong - Permanent Vice President and General Secretary of the Association of Vietnamese Entrepreneurs Abroad delivered the opening speech at the workshop. Photo: Thanh Le

Among the economic corridors in the Central region, the East-West economic corridor connecting Myanmar - Thailand - Laos - Vietnam - East Sea through Cau Treo and Cha Lo border gates along Highway 8 and Highway 12A to Vung Ang and Hon La ports; through Nam Can and Thanh Thuy border gates along Highway 7 and Highway 46 to Cua Lo port has a very important position. This is one of the favorable conditions for the development of Thanh Thuy Border Gate Economic Zone.

With the advantage of minerals, geographical distance and deep-water seaports to develop and provide logistics services from the provinces of the North Central region of Vietnam as well as supply in Laos, this corridor will bring many benefits: regional connectivity, creating an environment of economic, cultural and political cohesion; helping Laos and Vietnam export minerals to the sea at low cost; helping Laos and the Northeast region of Thailand import machinery, equipment, raw materials and chemicals for the mineral exploitation industry.

Mr. Nguyen Ngoc My - Vice President of the Association of Vietnamese Entrepreneurs Abroad gave an overview report on the East-West Economic Corridor. Photo: Thanh Le

Deputy Director of Nghe An Department of Planning and Investment Pham Van Vinh reported at the workshop. Photo: Thanh Le

Business Connection

To implement the Logistics strategy, according to delegates, it is necessary to focus on the components of the Logistics ecosystem such as developing transport infrastructure, synchronizing transnational institutions, developing Logistics support services, and developing human resources.

At the same time, the success of implementing Logistics strategies requires understanding, consensus and coordinated action not only from state agencies at the central and provincial levels of Vietnam and Laos, but also from the business community and Logistics investors.

Signing of a joint cooperation agreement between the North Central Branch of BAOOV and the Nghe An Provincial Business Association. Photo: Thanh Le

Vice President of the Association of Vietnamese Enterprises Abroad Nguyen Ngoc My said: “The development of the East-West economic corridor creates many opportunities for socio-economic development of localities, but whether those opportunities are successful or not depends on businesses. For the East-West economic corridor in the North Central region to develop to the regional and international level, it requires the combination of two sides: domestic businesses and overseas Vietnamese businessmen.”

Signing of investment cooperation between UIMEX Group of the United States and Hidumi Pharma Nghe An Green Science Joint Stock Company to produce spirulina products. Photo: Thanh Le

Nghe An province has 200 enterprises participating in import-export activities. Goods passing through Nghe An ports average 7 million tons per year, of which Nghe Tinh port alone is about 3.7 million tons.

“Logistics companies are not commensurate with their potential strengths, the biggest bottleneck is the limited logistics service infrastructure. Currently, the province is coordinating with investors to build deep-water ports. Nghe An in particular is eager to welcome overseas Vietnamese to invest in the province” - Deputy Director of Nghe An Province Investment and Promotion Center Nguyen Van Nam emphasized.

Conference scene. Photo: Thanh Le