LAO PDR (Vientiane Times) - The Savan Seno Special Economic Zone (SEZA) recorded imports worth US$172 million and exports of US$188 million in the period from January to August 2019, according to a recent report. The total in-transit value at Savannakhet Dry Port during the same period was US$2.7 billion. The General Manager of Savan Park, Mr. Tee Chee Seng, highlighted these figures during a visit by the Singaporean Ambassador to Laos, H. E. Mdm Leow Siu Lin, on November 19.
Savan Park authorities first told the envoy about the development of the park and the Savannakhet Dry Port during her visit to the office. Mr. Tee said the Savan Seno Special Economic Zone C - Savan Park is strategically located on the East-West Economic Corridor, and Savan Park is a stone’s throw from Mukdahan province in Thailand and Savannakhet airport.
He highlighted the rapid development of Savan Park, where 69 companies from around the world are currently registered. Most of these operate factories in the automotive, automation and electronic sectors. Mr. Tee also told the ambassador that Savan Park is fully protected under Prime Minister’s Decree 177, which offers numerous incentives to investors.
“All infrastructure at Savan Park, such as road and drainage, has been completed, an electricity substation is in place within the park, water pipes have been installed, the telecommunications system is complete, and dormitories for employees are available within the zone,” he said. The park serves as a ready platform for investors to set up manufacturing facilities, he added.
The ambassador said she was impressed by the development of Savan Park and Savannakhet Dry Port. She noted the potential for exporting fresh vegetables to Singapore using the convenient road transport facilities available at Savannakhet Dry Port. “Foreign investors should fully utilize the ready platform available in Savan Park for expanding investments, as Savan Park has been completed with all infrastructure, logistics, accommodation and human resources in place,” the ambassador said. The Singaporean ambassador also visited Savannakhet Dry Port and foreign companies that have invested in Savan Park to learn more about their operations.
The Lao government gives full support to Savan Park as it is also home to the first approved dry port. The Savannakhet Dry Port has also been acknowledged by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP). Lao President Bounnhang Vorachit signed the ratification of the Savannakhet Dry Port to comply with UNESCAP’s requirements on October 16.
The Savan Seno Special Economic Zone is now able to issue investment licenses and company registration within five working days. The facility is also able to issue a Certificate of Origin (C/O) to investors within the zone as products with a “Made in Laos” tag receive tax incentives from other countries, the authorities reported. Complete facilities are in place at the Savannakhet Dry Port, such as a One Stop Service office with customs and SEZA officers, and port operators are on hand to provide full assistance.
Currently, LTL and FTL road transport services are available from China to Singapore, with goods taking only seven days to travel from one end to the other, and passing through the Savannakhet Dry Port as a transit hub.
Those welcoming the Singaporean ambassador were the General Manager of Savan Park, Mr. Tee Chee Seng, the Chief Operating Officer of Savan Logistics, Mr. Jean Pierre Grzelczyk, and Director of Investment Promotion and the Legal Affairs Division of Savan Seno Special Economic Zone Authority (SEZA), Mr. Souksakhone Xayxana.