HCM City (VNA) – A workshop washeld in Ho Chi Minh City on January 25 to call on Vietnamese businesses toinvest in the Savan Seno Special Economic Zone in the Lao province of Savannakhet.
Cao Thi Phi Van, Deputy Director of the Investment& Trade Promotion Centre (ITPC) of Ho Chi Minh City, said Vietnam is now oneof the biggest foreign investors in Laos.
Enterprises from the southern economic hub ofHCM City have actively invested in the field of agriculture and forestry, shesaid, adding that in 2017 alone, 36 businesses from the city poured over 40million USD into projects in Laos.
The workshop creates a chance for investors inVietnam and HCM City in particularly to explore investment opportunities in theLao special economic zone, thus further promoting trade and investmentcooperation between the two countries.
Thongsay Sayavongkhamdy, Director of themanagement board of the Savan Seno Special Economic Zone, said Savan Seno isthe first special economic zone of Laos. It was established in 2003 inSavannakhet province which is considered a centre of trade, investment andservices in the central region of Laos.
The economic zone is located on Highway 9connecting Vietnam, Laos and Thailand on the East-West Economic Corridor,linking with China in the north and Cambodia in the south through Highway 13,he said.
Thanks to favourable transport conditions,Savan Seno is one of the most attractive destinations for foreign investment inLaos, he added.
Covering nearly 1,000 hectares, the economiczone is calling for investments in the fields of production, services andtrade, food and farm produce processing, bronze and timber products, automobileand motorbike assembling, garment-textile, footwear and handbag.
Regarding services, investors are encouraged topour capital in banking, insurance and finance; logistics and distribution;international schools and hospitals; amusement parks, workshops and training;hotels, spa, restaurants and tourism centres.
The management board also appeals forinvestment in tax-free areas, wholesale and re-export centres, as well as tradeand exhibition centres.
Businesses investing in the economic zone willenjoy tariff preferences such as incorporate tax exemption for 2-10 years andcustoms clearance for all imported materials for production to export.
Investors could lease land with a maximumduration of 75 years and enjoy exemption of land rental in 12 years.
Another advantage of the economic zone is theimplementation of the one-stop-shop mechanism for all procedures related tooperation licences, tax registration, import-export licences, certificates oforigin, and construction licenses.
Additionally, the management board will supportinvestors in labour recruitment and licenses, visa application, andregistration of temporary residence, electricity and water usage.-VNA
Cao Thi Phi Van, Deputy Director of the Investment& Trade Promotion Centre (ITPC) of Ho Chi Minh City, said Vietnam is now oneof the biggest foreign investors in Laos.
Enterprises from the southern economic hub ofHCM City have actively invested in the field of agriculture and forestry, shesaid, adding that in 2017 alone, 36 businesses from the city poured over 40million USD into projects in Laos.
The workshop creates a chance for investors inVietnam and HCM City in particularly to explore investment opportunities in theLao special economic zone, thus further promoting trade and investmentcooperation between the two countries.
Thongsay Sayavongkhamdy, Director of themanagement board of the Savan Seno Special Economic Zone, said Savan Seno isthe first special economic zone of Laos. It was established in 2003 inSavannakhet province which is considered a centre of trade, investment andservices in the central region of Laos.
The economic zone is located on Highway 9connecting Vietnam, Laos and Thailand on the East-West Economic Corridor,linking with China in the north and Cambodia in the south through Highway 13,he said.
Thanks to favourable transport conditions,Savan Seno is one of the most attractive destinations for foreign investment inLaos, he added.
Covering nearly 1,000 hectares, the economiczone is calling for investments in the fields of production, services andtrade, food and farm produce processing, bronze and timber products, automobileand motorbike assembling, garment-textile, footwear and handbag.
Regarding services, investors are encouraged topour capital in banking, insurance and finance; logistics and distribution;international schools and hospitals; amusement parks, workshops and training;hotels, spa, restaurants and tourism centres.
The management board also appeals forinvestment in tax-free areas, wholesale and re-export centres, as well as tradeand exhibition centres.
Businesses investing in the economic zone willenjoy tariff preferences such as incorporate tax exemption for 2-10 years andcustoms clearance for all imported materials for production to export.
Investors could lease land with a maximumduration of 75 years and enjoy exemption of land rental in 12 years.
Another advantage of the economic zone is theimplementation of the one-stop-shop mechanism for all procedures related tooperation licences, tax registration, import-export licences, certificates oforigin, and construction licenses.
Additionally, the management board will supportinvestors in labour recruitment and licenses, visa application, andregistration of temporary residence, electricity and water usage.-VNA
VNA
