news-and-events

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.

 

 

 

To: All Foreign and Domestic Enterprises investing in Mining, energy, agriculture and other concession projects in Lao PDR.

Subject: The 2nd Official Announcement on the official use annual investment report template for all concession projects in Lao PDR.

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(The meeting hosted by Minister Somdy Doungdy and Ambassador Takeshi Hikihara)

On December 16, 2015, the 9th Lao-Japan Public and Private Sectors Joint Dialogues 2015 was organized at Lao Hotel Plaza by Ministry of Planning and Investment and Embassy of Japan to Lao PDR in collaboration with JBIC Bangkok, JETRO Vientiane, and JICA Laos. 

In the remarks of Minister Somdy Doungdy, Minister of Planning and Investment, Chairman of the meeting, there was strong emphasys on the 5 year Social and Economic Development Plan 2016-2020 and the vision 2030 of the country. One of key elements is the contribution of the domestic and foreign investments. Thus, Minister Somdy  strongly support the liberalization and improvement of the business environment. From the Ease of Doing Business Report, Laos has improved 5 ranks from 139 in 2015 to 134 in 2016. We aim to have the 2 digits rank in the near future. "We hope the dialogue today would be a significant platform to solve some existing issues related to Law and approval procedure; taxation; and customs and logistics" said by Minister Somdy. This would attract Japanese Investors and contribute to the development of the Lao PDR and embrace with the mutual benefits of both sides. The Ambassador Takeshi Hikihara, co-chair of the meeting, shared the common views with Minister Somdy and also emphasized that the improving of the business climate would bring the win-win benefits to both sides.

In the wrap up statements, Minister Somdy and Ambassador Hikihara acknowledged some of the issues have been solved during the dialogue  and the existing problems that are needed to address together. Moreover, both sides agreed to organize the 10th Laos-Japan Public and Private Sectors Joint Dialogues 2016.

Lao-Japan Public and Private Sectors Joint Dialogues was launched in 2007. The dialogue is the annual meeting, which acts as the platform to discuss and solve the issues confronted by Japanese business community in Laos.

 

 

On 6th October 2015, the Laos Investment Seminar was organized in Tokyo, Japan by Ministry of Planning and Investment of Lao PDR and ASEAN Japan Centre. This event attracted about 250 Japanese investors.

On the remarks of H.E. Mr. Somdy Douangdy, Minister of Planning and Investment, keynote speaker of the seminar, Minister Somdy said that the seminar is among the activities to celebrate the 60th Anniversary of Laos and Japan Diplomatic Relation. 

The speech covered the 5 year Social and Economic Development Plan 2016-2020 and key targets that are needed. One of key elements is the contribution of the domestic and foreign investments. Thus, the investment environment improvement and investment liberalization are significant to attract Japanese Investors to Laos and contribute to the development of the Lao PDR and embrace with the mutual benefits of both sides. The liberalizing the service sector is one of the top priority of the Lao Government agenda, the equity participation of the foreign investors is up to 100% for the wholesales/retails business and 70% for the tourism business. 

Minister Somdy and Ambassador Khenthong Nuanthasing, Lao Ambassador to Japan, expressed the common point that the special economic zone would play crucial role in attracting the Japanese investments. There are over 10 SEZs located in strategic locations around the country. 

Three speakers from SEZ of Laos shared vivid information of their SEZs and how the Japanese investments would take the opportunities and benefits from investing in the zones.

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 and 42 enterprises registered in the zone.   

Pakxe-Japan SME Specific Economic Zone is located in Champasack province (southern part of Lao PDR). This SEZ is divided to three zones covering about 205.5 Hectare of totally land area. This new SEZ established in August 2015 and welcomed 6 enterprises.

Thakhek Special Economic Zone is located in Khammouane Province (central part of Lao PDR). It is few minutes from the 3rd Mekong Friendship Bridge between Laos and Thailand. This SEZ has about 1244 Hectare for the future development.

SEZs in Lao PDR features several incentives which are considered having several competitive incentives.

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Last update: 06 February 2020.