Aug. 4 – The government has just approved development plans for the Cau Treo Border Gate Economic Zone in central Vietnam’s Ha Tinh Province that will last until 2025.
In February, the zone was allowed to exempt goods from import tariffs – specifically materials, equipment and unfinished products imported for production and installation in the area. The tax exemption is valid for five years beginning March. Development plans for the zone will involve dividing it into specialized areas that include urban, residential, industrial, farming, tourist sites, ecological parks, and sporting facilities.
The zone does a lot of business with neighboring Laos, exporting US$40 million worth of goods in 2009. It will be a general economic zone with facilities accommodating businesses in industry, trade, service, residences, agriculture and forestry. Moreover, Cau Treo serves as a trade link to the East-West Economic Corridor.
