Fifty-two companies investing in the Saysettha Development Zone, Vientiane have started manufacturing with other 55 firms entering initial stages of building factories.
Most of the companies in the economic zone represent China, Thailand, Japan, Laos, Malaysia and Singapore.
Phase one of the development of the economic zone has been completed as developers have built necessary infrastructure, including roads, water supply, electricity, communications facilities, and customs offices.
“Right now, the Saysettha Development Zone is focusing on developing a commerce and tourism centre and new urban areas of Vientiane. So far we have invested 1.3 billion US dollars including 600 million dollars for basici infrastructure development,” said Deputy Director General, Laos-China Joint Venture Company Khiengkham Phoutchanthavong.
During his recent visit to the economic zone, Vice President Bounthong Chitmany appreciated the management committee of the zone upon its achievements, mostly in attracting several major foreign companies to promote the development in the zone and the Lao PDR as a whole, and make the zone a new source of revenues for Vientiane.
He noted that the zone represented the friendship and cooperation between Laos and China.
The Vice President also called on the committee to continue to implement the second phase of the development project to make the zone a model city, a commercial and tourism hub.
Source: Lao News Agency