Promoting Lao Investment Opportunities in Agriculture, Manufacturing, and Tourism sectors to Korean Businesspersons
On 1st September 2016, the Investment and Business Opportunities in Lao PDR Forum – Focusing on Ago-based and Tourism Industries- was organized in Seoul, Republic of Korea by Ministry of Planning and Investment of Lao PDR and ASEAN Korean Centre. This event attracted over 100 Korean and Lao audiences.
On the remarks of H.E. Ph.D Souphanh Keomixay, Minister of Planning and Investment, keynote speaker of the seminar said that the forum is among the activities to foster the closer co-operation between Lao PDR and Republic of Korea since the establishment of the diplomatic relation since 1995.
The remarks of Minister Keomixay elaborated the Vision 2030 of the Lao Government, the 2025 Socio-economic Development Strategy and the 8th Social and Economic Development Plan 2016-2020. One of key elements to achieve those goals is the contribution of the domestic and foreign investments. The forum showcased three key sectors of investment in Laos such as agriculture, manufacturing and tourism. Each of the topic would be given an insightful information by representative from relevant government authorities from Laos.
Minister Keomixay emphasized that the special and specific economic zones would provide a promising business manufacturing and service sectors. Currently, two out of total 12 SEZs were here with us and they were very happy to explain about their zones and talked with Korean investors in person.
Savan Park is located in Savannakhet Province (central part of Lao PDR) which takes full advantage of the East-West Economic Corridor. This SEZ covers the total land area of 234 Hectare (ha) and 47 enterprises registered in the zone.
Luang Prabang SEZ is located Luang Prabang Province with total zone area of 4,850 ha. They investment portfolio cover wide range such as real estate development, international high school, hospital medical centers, banking and financial institutions, hotel, entertainment venues and restaurants, sport center, cultural center and amusement parks, etc.
SEZs in Lao PDR features several incentives which are considered having several competitive incentives comparing to incentives granted outside the SEZs.