HANOI, Nov. 16 (Xinhua) -- Vietnamese Prime Minister Nguyen Xuan Phuc has approved an expansion of a Border Gate Economic Zone in the country's northern China-bordering Lao Cai province to boost cross-border trade between Vietnam and China.
According to the decision taking effect recently, the Lao Cai Border Gate Economic Zone, some 250 km northwest of the capital Hanoi, will include a tax area, a border gate area and other functional areas, reported Vietnam's state-run news agency VNA on Wednesday.
The expanded zone is expected to be put into operation by the first quarter of 2017.
With the expanded economic zone, Lao Cai's import-export revenue is forecast to reach 4.6 billion U.S. dollars by 2020 and 10 billion U.S. dollars by 2030, said VNA.
