Japanese companies invest in Savan-Seno zone
Japanese companies invest in Savan-Seno zone
Four Japanese companies have invested in the Savan-Seno Special Economic Zone (Savan Seno SEZ) in Savannakhet province, the Pathetlao Daily reported on June 10.
An official launch of the companies’ operations took place in the province last week, the newspaper reported. Present at the event were Deputy Minister and Vice President of the Lao National Committee for Special Economic Zones (NCSEZ) and Head of the NCSEZ Secretariat, Ms Bouatha Khattiya, senior officials from Savan Seno SEZ, and representatives of the four companies.
The first of the four new companies is Savan TVS Consultant Co., Ltd., which offers consulting services in law, investment, accountancy, and building design and inspection. The company has invested US$300,000 and has registered capital of US$50,000.
The second company is Lao Nishimatsu Construction Co., Ltd., which provides construction design, repair and maintenance services for buildings and factories. It has invested US$1 million and has registered capital of US$500,000.
The third operation is a representative office of Toyorozai Co., Ltd., which will gather investment information on the Savan Seno SEZ for its headquarters, along with exporting Lao timber products to Japan.
The company’s investment and registered capital were both listed at US$30,000.
The fourth is Nippon Koei Co., Ltd., which offers consultancy services for the 115kV transmission line being installed between Savannakhet and Saravan provinces.
So far, more than 60 companies have registered to operate in the zone, with investment valued at US$223.1 million, a senior official revealed at a recent seminar in Vientiane.
Companies registered in the zone are based in Canada, the Netherlands, France, Holland, China, Japan, the Republic of Korea, Hong Kong, Malaysia, Thailand and Laos, said the Savan Seno SEZ authority’s Vice Governor, Mr Thongsay Sayavongkhamdy.
Japanese investment and joint venture businesses in the zone are now valued at over US$21 million, he added.
The Savan-Seno SEZ is located along Road No. 9 linking Laos to Thailand and Vietnam, making it easier to transport goods produced in the zone to neighbouring countries and further afield.
Special economic zones in Laos include those at the That Luang Marsh in Vientiane, Savan-Seno in Savannakhet province, Vientiane Long Thanh Golf Course, as well as the Golden Triangle in Bokeo province, Boten Dankham in Luang Namtha province, and Phoukhiew in Khammuan province.
Special economic zones are designed to attract foreign investment to drive Laos’ economic growth and create jobs for local people.
