Saysettha Development Zone attracting growing number of foreign investors

The Saysettha Development Zone has seen a growing number of companies investing in the area after improvements in basic infrastructure, according to a senior official at the zone.

The zone was established in 2010 with the aim of developing an eco-industrial city.

So far, there has been progress in basic infrastructure development. Roads, water, electricity, communications and cable television have been established on 410 hectares of land, at a cost of more than US$300 million.

These facilities will satisfy the needs of businesses already based in the zone and will attract more investment to the area, Deputy General Manager of the Lao-China Joint Venture Investment Co., Ltd., Mr Kiengkham Phoutchantavongsa, told Vientiane Times yesterday.

About 35 Chinese and foreign companies have already moved into the zone, with an aggregate investment of about US$350 million.

They have invested in agricultural product processing, clean energy production, logistics, commerce and trade, machine manufacturing and industrial construction, he added.

The zone is currently preparing to develop residential land, including a hospital and school, in the second phase of project, he said.

According to the company, in the first phase the zone will mainly develop industry, focusing on the processing of agricultural and other primary products like hardware, building materials and machinery.

The zone will also support the technological innovation and entrepreneurship of small and medium-sized enterprises.

In the second phase from 2016-2020 and the third phase from 2020-2030, the zone will mainly develop commerce and trade along with a focus on building a new part of Vientiane.

The zone expects to spend about US$650 million on infrastructure investment in three phases, on about 1,149 hectares of land, according to the company’s development plan.

The Saysettha Development Zone is operated by the Lao-China Joint Venture Investment Co., Ltd. and co-funded by the Yunnan Provincial Overseas Investment Co., Ltd. and the Vientiane Administration.

The zone is a cooperative project between Laos and China and has been listed as a high priority project under China’s Belt and Road Initiative. It is also listed as a significant development project for Laos.

The Saysettha Development Zone is located 17km to the northeast of Vientiane’s central business district. It is one of 12 zones to be established under the government’s policy to develop special and specific economic zones.

By Times Reporters
(Latest Update December 1, 2016)