CT Strategies seeks to build free trade zone in central Vietnam
The United States-based CT Strategies, a border management solution provider, aims to cooperate with Vietnam’s central province of Thanh Hoa in developing a free trade zone (FTZ).
A delegation of CT Strategies and Thanh Hoa authorities discussed the collaboration on Monday. The American firm suggested the project location at Ha Linh commune, Ha Trung district.
CT Strategies and Thanh Hoa authorities at a meeting in Thanh Hoa province, central Vietnam, March 10, 2025. Photo courtesy of THanh Hoa TV.
A free trade zone can help improve socioeconomic growth, overcome trade protection barriers, attract investment, boost technology transfer, and create jobs, CT Strategies highlighted. It can help Vietnam avoid issues of the growing trend of trade protection.
Backing the proposal, Thanh Hoa Vice Chairman Nguyen Van Thi asked agencies to study the proposal and establish a researching team for the task.
Vietnam currently has no FTZs. Many localities have suggested the establishments of FTZs, such as Danang city, Ba Ria-Vung Tau province, and Hai Phong city.
Thanh Hoa’s export revenue reached $6.3 billion in 2024, up 23.4% year-on-year. Meanwhile, its import expenditure grew 20.3% to $10.04 billion.
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