The launching ceremony for the construction of Luofu Avenue and the plaque unveiling ceremony of two companies invested by Guangxi Beibu Gulf Investment Group Co Ltd were held on Oct 16 in Dongxing, Guangxi Zhuang autonomous region, boosting the construction of the cross-border economic cooperation zone between Dongxing and Mong Cai, Vietnam.

The Dongxing-Mong Cai cross-border economic cooperation zone is an important platform for the opening up and cooperation between China and ASEAN that is currently under construction, with a planned area of 84 square kilometers. 

The zone will make full use of the resources and markets in both China and ASEAN to develop cross-border distinctive industries spanning import and export processing trade, cross-border finance, cross-border tourism, as well as cross-border e-commerce.

After its construction is completed, Luofu Avenue will connect multiple traffic arteries in Dongxing-Mong Cai cross-border economic cooperation zone.

The port investment company invested in by Guangxi Beibu Gulf Investment Group Co Ltd unveiled on that day will cover a total area of around 3,500 mu (233.33 hectares), with an overall investment of about 10 billion yuan ($1.5 billion). The company will manage the investment, construction, operation, and management of the logistics industrial park in Dongxing-Mong Cai cross-border economic cooperation zone.