(KPL) Twenty two local and foreign companies have signed agreements with relevant authorities to invest in the Thakhek Specific Economic Zone (TSEZ) since 2012.
Almost 600 plots of land of local people have been reportedly affected by the 75-year project.
The compensation for people’s property loss caused by the concessional project will cost the developer more than 25 billion kip.
Since the establishment of the economic zone, only 10.5 billion kip, equivalent to 40.8 % of needed compensations, have been paid to affected families.
The amount is for 263 plots of land they have already given to the economic zone developer.
The Thakhek Specific Economic Zone has attracted 22 domestic and foreign investment projects with a total investment of approximately US$12.9 billion, and a registered capital of US$4.03 billion, said Mr. Daolai Keodouangdy, Director of Khammouan Provincial Department of Planning and Investment.
Fifteen investment projects in the economic zone are operated by domestic investors with other two projects invested by foreign companies.
Five other projects are operated as a joint venture between local and foreign investors.
Last year witnessed one company signing a contract worth US$1.5 million with the developer of the economic zone.
Sitting on 1,035 ha, TSEZ has been divided into 10 small zones including, among others, commerce, department stores, restaurants, banking and finance, hotels and entertainment, convention, real estate, and logistics.
Source: Lao News Agency