The provincial People's Committee has just proposed the project, considering it as an important source to develop a center for goods exchange on the border with China and motivation for local economic development.

Aiming to be built with modern facilities, the market and the center are expected to renovate and improve the efficiency of trading in the local area and attract more businesses.

The Kim Thanh Exhibition and Convention Center in Lao Cai province will be rebuilt into a modern border market and trading center.

It will also promote the development of e-commerce, creating conditions for trading and exchanging goods between border residents, while preventing smuggling and trade fraud.

According to the project, they will build three different zones including a zone for fairs and a showroom for regular product, a zone for border residents' markets and a zone for wholesale markets for agricultural and aquatic products.

The first zone will be built in the current Kim Thanh Exhibition and Convention Center covering 2.69ha while the second one will be built over 2.4ha where an e-commerce trading floor and e-commerce checking and delivery area also exist.

To the west of zone 1 on an area of 6.2ha, zone 3 will host a wholesale market for agricultural and aquatic products for domestic consumption, import and export.

Lao Cai expected to call for investment of VND 200 billion (USD 8.6 million) and finish the building in the 2020-2022 period through land lease auctions.

Local provinces bordering China, such as Quang Ninh and Lang Son, have formed pairs of border markets for trade promotion which have proved effective in promoting the activities of goods exchange, trade and import and export.

Source: VNA