Luang Prabang plans to establish SEZ
Luang Prabang plans to establish SEZ
Luang Prabang province plans to establish a special economic zone (SEZ) with a view to promoting business operations and attracting more investment, trade and tourism through the single window service.
Officials from the Lao National Committee for Special Economic Zones (NCSEZ), Luang Prabang province, and Phousy Group Co., Ltd. met in the province last Monday to discuss the feasibility study and master plan for an SEZ.
The meeting was also attended by Deputy Minister and Vice President and Head of the NCSEZ Secretariat, Ms Bouatha Khattiya, and provincial Governor Mr Khamkhan Chanthavisouk.
Luang Prabang special economic zone is expected to be located in Chomphet district and the outlying area of Luang Prabang district.
The project, covering an area of 4,850 hectares, will be developed by Phousy Group Co., Ltd.
The group will convert the area into modern urban centre related to the cultural, natural and historical potentials of the province under the regulations and incentive policies defined in the special economic development zone strategy.
Luang Prabang is a part of the SEZ development strategy in Laos from 2011-2020, which was approved by the government in April 2012.
If a specific economic zone were created it would be able to provide job opportunities and a stable income source for Luang Prabang province as well as contribute to the national budget, said Mr Khamkhan.
In addition, it will also prepare for trade and service integration with Asean member countries and other nations, he added.
According to the NCSEZ, Laos currently has two SEZs and nine specific economic zones with nine of these located in areas bordering Thailand.
The two SEZs are Savan-Seno SEZ in Savannakhet province and Golden Triangle SEZ in Bokeo province.
Specific economic zones include Boten Beautiful Land in Luang Namtha province, Pakxe-Japan SME in Champassak province, Thakhaek and the Phoukhiew SEZ in Khammuan province.
Other specific economic zones in Vientiane are That Luang Marsh, Vientiane Industry and Trade Area (VITA Park), Vientiane Long Thanh Golf Course, Xaysettha, as well as Dongphousy.
The government has generated revenue of more than US$11.4 million from special economic zones and specific economic zones from 2002-2014.
