Camera factory opens in Savannakhet special zone
Camera factory opens in Savannakhet special zone
The KOYO Lao Company camera component factory located in Zone B of the Savan-Seno Special Economic Zone (SSEZ) in Savannakhet province is ready to produce its first batch of components after the factory opened on Monday.
T he factory was opened by Deputy Prime Minister Somsavat Lengsavad and Savannakhet provincial Governor Dr Souphanh Keomixay. The ceremony was also attended by representatives from the Japanese Embassy to Laos, government officials and company representatives.
KOYO Lao signed an agreement with the government for a site in the special economic zone last April after which the company designed the factory and began construction in August. The building was finished in January this year with a total investment of US$500,000.
The factory produces camera components for Nikon in Japan, one of the most famous names in photography.
KOYO Lao decided to go ahead with the project after the government offered attractive terms to encourage investment in special economic zones.
Investment in the zone will help to develop the skills of the Lao workforce and produce goods of the right standard for integrating Laos into the Asean Economic Community.
KOYO Lao's investm ent will also contribute to the provincial economy and help with poverty reduction, said Dr Souphanh.
Savannakhet is a large province with one of the highest populations in the country and a constantly growing economy, he explained.
The province is located along the East-West Economic Corridor and is improving its infrastructure, currently upgrading National Road No 9, designing a new airport, and expanding electricity and water supplies into the special zone.
Savannakhet will also further develop Kaysone Phomvihane district, the provincial capital, and expand trade and tourism, Dr Souphanh said.
The province is ready to cooperate with investors by providing support and facilities for business operators from Japan and other countries.
So far 39 companies have registered to operate in the SSEZ, from Laos, Malaysia, Hong Kong and Japan and six factories are already producing goods for export.
vientiane times
