Success Story of Savan Park SEZ Zone C
Success Story of Savan Park SEZ Zone C
Commonly known in short as ‘Savan Park’ (Zone C) at the Savan-Seno Special Economic Zone (SEZ), the facility now houses more than 50 registered and operating companies thanks to an increase in the number of investors, according to the latest data.
“To be frank, I’m delighted to personally witness the progressive and rapid economic activities at Savan Park as the result of close collaboration between the Lao government, Malaysian concession holder, Savan Pacifica Development Co. Ltd. which is responsible in promoting and attracting investment into that SEZ Zone C as well as the roles played by Savan Logistics in providing land transport services linking seven countries in the region,” Ambassador of Malaysia to the Lao PDR, H.E. MohdAiniAtan told Vientiane Times recently.
The Ambassador and Mr. Johan AriefJaafar, Second Secretary, Embassy of Malaysia to the Lao PDR made a site visit to Savan Park from 22-23 April 2017, and was warmly welcomed by the Governor of the Savan-Seno Special Economic Zone Authority, Mr. ThongsaySayavongkhamdy.
While meeting with local authorities of the SEZ, the Ambassador and his delegation visited the Customs Office, Savan Logistics and Kitani Electric (Lao) Co., Ltd. in Savan Park (Zone C).
“Under the incentive collaboration between a Malaysian company – Savan Pacifica Development Co., Ltd., the Lao government and Savan Logistics, the Savan Park SEZ Zone C has already emerged as the most progressive and successful business and investment ventures in the Lao PDR and there are more investments to be expected in the future coming into the SEZ, Ambassador MohdAini said.
He went on to say that with all the necessary infrastructure and facilities, such as the necessary land transport facilities and dry port connecting seven countries in the region already at the stage of being operational, it will further stimulate economic activities in the area.
“Laos is generally known as a land-locked country, sandwiched by Thailand and Vietnam. But the dry port enables Laos to be a land-linked country, lessening the dependence on seaports,” he said.
The Savannakhet dry port is located in Savan Park in the Savan Seno Special Economic Zone C. It is the commercial and industrial hub for the gateway to the global market. Savan Park Zone C is a joint venture between the Lao government and Pacifica Stream Development Company Limited.
Ambassador MohdAini noted that the Lao economy was on a robust growth path. Savan Park makes a significant contribution to economic development with a total of 55 registered and operating companies on the 234 hectare site that constitutes Zone C.
“I’m quite confident that the number of investors can be increased, thanks to the Lao government’s tax incentives and their policies to promote investment in the park.”
Savan Park is zoned as a free trade industrial and commercial centre under Prime Minister’s Decree 148. Investors who set up a base in this zone enjoy the lucrative benefits of the privileges detailed in Prime Minister’s Decree 177.
As part of the initial achievements at Savan Park, Savan Logistics based in the Special Economic Zone or Savan Park (SEZ), recently proposed the establishment of Common Control Areas (CCA) in the park, aimed at easing traffic congestion at the Lao-Thai border crossing.
The CCA initiative also supports the government’s priority to tackle congestion at the border as quickly as possible, as recently suggested by Deputy Prime Minister SomdyDuangdy.
It is expected that the establishment of CCA at Savan Park will not only ease traffic congestion but will facilitate the provision of a single service in customs clearance and other document procedures.
Savan Pacifica Development Co. Ltd. would like to congratulate H.E. MohdAiniAtan, Ambassador of Malaysia to the Lao PDR for Presenting his Letter of Credential to H.E. BounnhangVorachit, President of the Lao PDR on 4 May 2017.
