Front view casino in the Golden Triangle Special Economic Zone (Photo: laosgpsmap.com)Vientiane (VNA) – The Lao Government sees the establishment of special economic zones (SEZs) among crucial targets that would develop the nation’s socio-economy and provide more jobs for its people.
More than 500 private and foreign enterprises have invested a total of 4 billion USD in 13 SEZs and employed 22,000 local labourers so far, Buatha Khattiya, Vice Chair of the Lao National Committee for Special Economic Zones, was quoted by the Vietnam News Agency.
In a bid to attract more investment and complete the plan to set up 58 SEZs by 2020, the country has made adjustments to its policies to create favourable conditions for foreign businesses.
A report from the Ministry of Planning and Investment showed that the Golden Triangle Special Economic Zone in Tonphong district, Bokeo province has drawn in more than 700 million USD. More than 657 million USD of this amount was provided by China’s Dok Ngiew Kham Group for infrastructure development.
Recently the Lao Phousi Group was granted a license to construct an SEZ in Luang Prabang province on an area of 4,850 hectares. The 1.2-billion-USD zone will be developed into a modern tourism and service site with electricity and water systems, roads, hospitals, schools, hotels, banks, shopping malls and nursing homes for foreigners.-VNA
