Enhancing Laos-Vietnam economic connectivity via East-West logistics corridor

VOV.VN - More than 80 businesses from Vietnam, Laos, and Thailand gathered at an international conference in Vientiane on November 4 to discuss ways to strengthen regional links and develop East-West logistics corridors.

The gathering was co-organised by the Vietnamese Ministry of National Defense and the Lao Ministry of Industry and Commerce.

Delegates share the view that Laos has numerous opportunities to develop into a regional transportation hub as it boasts advantages in terms of connecting goods in East Asia and West Asia, as well as the central location between China, Vietnam, Cambodia, Thailand, and Myanmar. In addition, they said Laos has a lot of potential for developing logistics services along the East-West corridor to contribute to economic development in the Mekong sub-region.

Addressing the event, Somvixay Vongthirath, deputy director of the Lao Trade Promotion Department, emphasised that logistics play an important role in promoting Laos’ trade, import-export, and services. Although Laos does not have a shipping route due to its geographical location, it receives assistance from Vietnam by connecting with Vietnamese maritime transport routes, he said.

Laos will continue to strengthen cooperation with Vietnam to develop border trades and trade services which connect to Vietnamese logistics infrastructure and services, he said.

Vongthirath welcomed the initiative to organise the conference, which he said would help promote logistics activities and increase the overall value of trade and economic connectivity between the two countries. 

For his part, Senior Lieutenant Colonel Bui Van Quy, deputy general director of Saigon Newport Corporation (SNP), stressed that there are bright prospects ahead for developing logistics services which connect Laos and Vietnam through the East - West logistics corridors. He added that SNP is keen to contribute to the further development of the transport industry in Laos through its ecosystem of seaports, warehouses, and logistics services

At the event representatives from both Vietnamese and Lao enterprises also raised existing issues relating to removing hurdles and facilitating the import and export of goods throughout the region.

Representatives from Saigon Newport Corporation, the Laos International Freight Forwarders Association (LIFFA), and the Vietnam Business Association in Laos (AVILA) also signed a Memorandum of Understanding (MoU) on logistic cooperation.

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