MOIT VIETNAM | Laos is planning to establish a new Triangle Special Economic Zone
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Laos is planning to establish a new Triangle Special Economic Zone
Phongsaly province officials "gave the green light" to a group of Chinese enterprises to conduct research on the development of a new Triangle Special Economic Zone (SEZ), according to the Vientiane Times of August 27. This SEZ will be located in Nhot-ou district, Phongsaly province, which shares a border with China and Vietnam if it is permitted.
Phongsaly province officials and a representative of the aforementioned Chinese business group signed a memorandum of understanding (MOU) on August 24, according to the newspaper, allowing investors to conduct a feasibility study on the SEZ. The investor must start the survey and feasibility study within 30 days of signing the 18-month MOU.
According to Khammala Souvong, Deputy Director of Phongsaly Department of Planning and Investment, Chinese investors will survey an area of about 250 square kilometers, of which 100 square kilometers will be used for services and tourism, and Chinese investors will survey an area of about 250 square kilometers. Agricultural and industrial growth will take up the remaining 150 square kilometers. Investors will also survey and design a road connecting Yai-ouneua village to the planned development site. A social and environmental impact assessment will also be carried out.
The feasibility study report will be utilized as a guide in designing the master plan for the above mentioned SEZ development, according to the Vientiane Times.
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