On March 28th, 2018 at Boten international border checkpoint, Luangnamtha province. Lao International ICD Co.,Ltd has opened ceremony of Inland Container Depot. The ceremony was honor attended by Mr. Somdy Douangdy, Deputy Prime Minister, Minister of Finance, Mr. Phetthavone Philavanh, Governor of Luang Namtha Province and relevant sectors from Luangnamtha and Bokeo provinces. The reason of establishing ICD is to facilitate cross-border transportation to be flexible, convenient, safe, transparent and reduce the transportation costs and also to attract more Foreign Direct Investment (FDI) to the Lao PDR. According to the Government’s policy states that Lao PDR is a landlocked country can be transformed into a regional center for cross-border transportation and can be gained more revenues from the massive investment. ICD is located at Boten international border checkpoint, Luangnamtha Province in accordance with the Greater Mekong Sub-region Cross-Border Transport Facilitation Agreement (GMS CBTA), which has designated that Lao PDR hold more than half of all shares, has fixed term contract of 28 years (2018-2045) with initial capital and investment value of 14 million US dollar or approximately 120 billion kip. Moreover, ICD is designated as an international depot, which is managed by IT system and ASYCUDA of the Customs Department to provide inclusive facilitation for business operations and corss-boder transportation.
News source: Lao economic daily website, dated March 29th, 2018
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