SSSE, AMZ Group ink security joint venture
SSSE, AMZ Group ink security joint venture
State Security Services Enterprise (SSSE) has reached a joint venture agreement with AMZ Group Company Limited to implement modern security services in Laos using advanced technology.
Under the agreement, technologies will be developed for use by SSSE so it can meet security challenges as the nation readies for regional integration under the Asean Economic Comm unity (AEC).
The joint venture cooperation agreement was signed by SSSE Director Police Colonel Bounhoung Mahaxay and CEO and President AMZ Group Company Limited Mr Alivan Sithara in Vientiane on Tuesday.
While witnessing the signing ceremony, Deputy Minister of Public Security, Brigadier General Sinthavong Sayakone, also noted the cooperation between the two sides would signify an essential development in society's security.
“A joint venture agreement marks outstanding cooperation between the two sides in capital investment. It is hoped the agreement will be implemented under the guidelines of government regulations and the relevant laws,” he said.
He also said that security services were ever more important with greater demands placed upon them once the country was officially integrated with the Asean Economic Community.
“Regarding to our commitment, we have set to become more active in the protection and development of our nation,” he said.
SSSE was established under the supervision of the Ministry of Public Security with registered capital of more than 19.5 billion kip, divided into 19,592 shares each worth 1 million kip.
In the new joint venture AMZ Group will hold 49 percent of shares while SSSE will hold the other 51 percent, according to the agreement.
