Laos to uplift economic zones
Laos to uplift economic zones
The Vientiane Economic Zone Management and Development Committee plans to continue monitoring project rollout and improve facilities in Laos’ economic zones this year.
The committee will also work to improve One Door services, oversee the construction of a Buddha image in the Thatluang Special Economic Zone, and build a container yard at the Saysettha Development Zone and a Hi-tech Park at the Longthanh-Vientiane Specific Economic Zone.
There will also be position changes among committee members.
Committee head Thanongxay Khoutphaythoun said the committee will also give priority to working with the Vientiane tax sector on the collection of revenue within zones, as well as setting up One Door investment units in zones and continuing to evaluate the development of zones in line with concession agreements.
The committee will enforce the enterprise law and cancel contracts with businesses that do not carry out planned developments, while also encouraging developers to comply with the relevant laws. It will also update information and statistics linked to related sectors.
According to the committee’s annual report for 2021, it will compile information about job vacancies and employment opportunities within zones and work with the relevant departments to provide workers as needed. The committee will also conduct environmental impact assessments.
The committee’s investment plan for zones in 2022 is as follows: The Saysettha Development Zone requires $200 million in investment. The goal is to bring 10 domestic and foreign companies to the zone, generate 141 billion kip ($12.4 million) in taxes for the state budget and to provide at least 2,200 jobs for companies in the zone.
Numerous construction projects are planned, such as an electricity generating station, buildings, waste management site, and a park with a pond.
The Thatluang Special Economic Zone requires investment of $30 million. It is hoped that eight companies will set up business in the zone and generate 1.3 billion kip in taxes for the government. At least 120 jobs will be provided.
Construction projects include financial service buildings, condominiums, and road construction, as well as a Buddha statue.
For the Longthanh-Vientiane Specific Economic Zone, the committee has specified investment of $9 million. A lot of work will be carried out here, such as the upgrade of road nos 8 and 9, two low-voltage electricity transmission networks, and various other construction projects.
The Vientiane Logistics Park requires $150 million in investment. It hopes to attract seven domestic and foreign companies and to generate 200 million kip in taxes for the state budget.
Among the planned activities are road construction, building of a bridge across the railway, and the removal of obstacles to road construction, such as telephone lines and electricity poles.
