Transport operator seeks funding for project in Khammuan SEZ
Transport operator seeks funding for project in Khammuan SEZ
Alocal trade and transport company, Jo Bounmy (Group) Limited, has completed the land clearance for an infrastructure development project in the Thakhaek Specific Economic Zone (T-SEZ) in Khammuan province.
The company signed a land concession agreement with the T-SEZ for the 14 hectare site in January this year, planning to invest more than 40 billion kip (US$5 million) to develop a trade and services area, including a car park, a warehousing system and goods transportation.
“Currently the company is fund raising, mobilising funds from abroad,” T-SEZ representative Mr Daolay Keodouangdy said yesterday.
“It may take a loan from overseas or it may attract foreign investors to enter into a joint venture and cooperate on the project's development,” Mr Daolay said.
The group will own and operate the site for 75 years, from 2015 to 2090. Once the agreement is close to expiry, the developer can extend it for another 15 years.
The zone was established in 2012 on an area of 1,035 hectares; it focuses on the development of trade, services and transport.
It is located close to the third Lao-Thai Friendship Bridge, which goes from Thakhaek to Nakhon Phanom in Thailand, and National Road No. 12 as the main route to the Da Nang International Seaport and Vung Ang deep sea port in Vietnam.
Mr Daolay said there are now 20 companies operating in the T-SEZ, both local and foreign.
The 20 companies, which are from Laos, America, China, Vietnam and Thailand, have a registered capital of more than 15.56 trillion kip (US$1.89 billion), according to a handout from the T-SEZ.
These companies expect to make an investment of more than 48.5 trillion kip (US$5.91 billion), the handout noted.
The government of Laos has a policy for economic zones which welcomes all business sectors including domestic and foreign investors.
Some of the policies include the management of a one door service and a one clearance (stamp) policy on the new management of services for industrialisation and modernisation, economic management, independent financial management and identifying the rental fee for land and real estate in the T-SEZ.
The policy for investors in the zone includes a tax rebate on fuel imports, a tax rebate on imported vehicles used for administration purposes and a different tax rebate on the importation of vehicles used for direct production purposes.
Imported raw materials and equipment will come under a separate policy on tax and duty, according to the law.
The T-SEZ is subdivided into zones for services, hotels, entertainment, distribution logistics, transportation stations, conferences and meetings, first and second class residences, a sports centre, education and public health facilities, administration and organisation offices, forestry preservation and a green area.
The website of the Lao National Committee for SEZ shows that now Laos has two special economic zones and eight specific economic zones.
The two special economic zones are Savan - Seno SEZ in Savannakhet province and the Golden Triangle SEZ in Bokeo province.
The eight specific economic zones are Boten Beautiful Land SEZ in Luang Namtha province, Phoukyo SEZ and Thakhaek SEZ in Khammuan province, That Luang Lake SEZ, Vientiane Industrial and Trade Area, Xaysettha SEZ, Longthanh - Vientiane SEZ and Dongphosy SEZ in Vientiane.
