Lao NEWS on LNTV: More than US.7 bil committes towards investment in SEZs in Laos.3/2/2015, VO More than US.7 billion committes towards investment in special and specific economic zones (SEZs) in Laos
INTRO: More than US.7 billion has been committed towards investment in special and specific economic zones in Laos as the country continues its integration with the rest of the region and the world.
STORY: These figures were unveiled at an annual meeting held in Vientiane on Monday chaired by the Deputy Prime Minister in charge of economic affairs, specifically production and goods circulation, Somsavat Lengsavad. Of the total figure, more than US billion has been spent on development activities in these zones, carried out by 158 companies from around the world.
Government spokesperson and Vice President of the Lao National Committee for Special Economic Zones (NCSEZ), Madame Bounpheng Mounphosay, said the government has invested about US million in activities to facilitate SEZ development and in return has received about US million from the zones’ obligations.
The 10 SEZs in Laos include the That Luang Marsh specific economic zone in Vientiane, Savan-Seno special economic zone in Savannakhet province, Golden Triangle special economic zone in Bokeo province, Boten Dankham specific economic zone in Luang Namtha province, Vientiane Long Thanh Golf Course in Vientiane, and the Phoukhiew specific economic zone in Khammuan province. Special economic zones are designed to attract foreign investment to Laos to drive the country’s economic growth and generate income for local people. By gaining wealth, people can create a foundation for Laos to graduate from the list of least developed countries by 2020.
Laos currently has two special economic zones and eight specific economic zones, which combined cover an area of more than 13,500 hectares and have generated more than 10,000 jobs.
The national meeting was attended by ministers, provincial governors and other high-ranking officials as well as representatives from all 10 SEZs in Laos.,