On the rails
Rail network 'a game changer for Laos, region looks set to reap benefits'
Driving industry
As Laos becomes an effective land link to regional and global supply chains, investors are tapping opportunities, pouring capital into developing and conducting businesses in 12 special and specific economic zones across the country, advancing the Lao government's efforts to drive and sustain growth and diversify the economy away from heavy dependence on natural resources.
Established in 2010 in the heart of Vientiane, the Saysettha Development Zone has attracted 150 major companies from countries such as China, Thailand, Japan, Malaysia, Singapore and Switzerland, with combined investments of about $2.3 billion, creating at least 7,000 jobs for local workers, according to latest industry figures. Companies carrying out manufacturing operations in the area enjoy investment incentives such as tax breaks, low labor costs and cheaper electricity.
Manufacturers also enjoy improved access to major markets in countries that provide exemptions or reductions of import tariffs on goods made in Laos.
Chanthone Sitthixay, the developer and operator of the Thanaleng Dry Port — is turning 327 hectares of land near the first friendship bridge across the Mekong River, also known as the First Lao-Thai Friendship Bridge, which connects Laos and Thailand, into a modern logistics park, leveraging Laos' position as a regional and global connector.
