Investor interest rises in Savan-Seno zone
Investor interest rises in Savan-Seno zone
Investment in the Savan-Seno Special Economic Zone (SSEZ) is now booming, with 60 companies having registered to operate in the zone, valued at US$223.1 million, according to the zone's senior official.
The authority's Vice Governor, Mr Thongsay Sayavongkhamdy unveiled the latest update of the registered companies for business operation at the zone at a seminar in Vientiane on Friday.
The seminar was jointly organised by NUOL's Laos-Japan Human Development Institute and Savan-Seno Special Economic Zone authority, and supported by Japan International Cooperation Agency (JICA).
“The number of registered companies at the zone is actually more than 60 but these are the most active companies,” he said.
According to Mr Thongsay, the foreign companies registered at the zone come from Canada, Netherlands, France, Japan, the Republic of Korea, Hong Kong, Malaysia, Thailand and Laos.
He also said that many foreign companies still want to hire more Lao employees to work with them.
“The Japanese investment and joint venture businesses at SSEZ are now valued at over US$21 million,” Mr Thongsay said.
T eachers, students and administrative staffers at the N ational University of Laos (NUOL) took part in the seminar to hear about the carrier opportunities and job recruitment information at Savan-Seno Special Econ omic Zone in Savannakhet province.
NUOL President Prof. Dr Soukkongseng Sayngaleuth attended the seminar, noting that the gathering of teachers and students of NUOL marked a significant interest for Savan-Seno Special Economic Zone.
“It is also part of the sharing of ideas about economic integra tion, especially the Asean Economic Community,” he said, adding that teachers and students will be able to expand the knowledge of SEZs and the AEC as well.
Deputy Director General of the Lao National Committee for Special Economic Zones Secretariat, Dr Kheungkham Keonouchanh, also said that 158 companies have registered to operate businesses in special and specific zones nationwide.
“The government already earns over US$10 million but when more companies have registered to operate in these zones, it will generate at least US$5 million per year for the government budget,” he said.
Most importantly, the Japanese multinational corporations Nikon and Toyota recently decided to build factories in the Savan-Seno special economic zone as Laos becomes more closely integrated with the region and the world.
Presently, the existing 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.
