CT Strategies eyes free trade zone project in Binh Duong

VOV.VN - US firm CT Strategies is considering the possibility of developing free trade zones in Binh Duong, an industrial hub in southern Vietnam, said Andrew Farrelly, CEO and Co-founder of CT Strategies, in a working session with the Binh Duong provincial administration on July 3.

Ferrelly highly appreciated the infrastructure development as well as the economic potential of Binh Duong, saying the locality meets all conditions to form free trade zones, aiming at export and free trade facilitation.

He said he had jumped to the conclusion following a fact-finding tour of the province which he said has a convenient transportation system connecting with deep-water seaports and international airports.

According to the CEO, free trade is developing strongly in the United States and other countries around the world to help the business community reduce taxes, avoid being taxed repeatedly, and increase competitiveness.

Mai Hung Dung, vice chairman of the provincial administration, welcomed the US firm’s plan, saying that forming a free trade zone is Binh Duong’s important goal to step up the clearance of goods and enhance professional management of the logistics system.

Binh Duong is well aware that the logistics system, if not well developed, is also a ‘bottleneck’ for the local economy in the coming time, said Dung.

The official said the locality always focuses on solutions to attract investment and industrial development, especially green, modern and environmentally friendly industries. It supports businesses including CT Strategies to seek investment fields suitable to local development policy.

Binh Duong has so far attracted 4,113 FDI projects with total registered capital of US$40 billion.

Headquartered in Washington D.C., CT Strategies provides strategic services to clients seeking innovative insight, advisory services, and technology applications to address border management, supply chain, and port operation challenges in the US and around the world.

It has opened its head office in Da Nang city and is promoting consultancy on free trade zone projects in some localities such as Quang Nam, Quang Tri, Can Tho, Hai Phong and Hue.

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