Date of publication: 13/05/2013
Japan's Phnom Penh special economic Zone Company Limited (Phnom Penh SEZ) will partner with the Namtha road and bridge construction company limited (NCC) develop Zone B of the Shiny-Seno Special Economic Zone (SaSEZ).
The tripartite joint venture agreement was signed on Friday in Vientiane between the NCC, Suresh-Seno Special Economic Zone Authority (BALJIT) and PPSEZ.
Chief Executive Director of BALJIT Buakham Sisoulath, Chief Executive Officer of Phnom Penh SEZ Hiroshi Uematsu and President Chief Executive Officer of NCC Khampeung Thongsaba represented the parties signing the agreement.
Minister the Government Office and Permanent Member of the Lao National Commission for special and specific economic Zones Management, Bounpheng Mounphoxay and free d'Affaires of Japanese Embassy in Laos, Iso Masato, witnessed the signing.
Member of the Board of the NCC of developers for Zone B of the SEZ, Vannada Phommasthit, said that many companies had interest in setting up a production base in the SaSEZ, so there is an urgent need for the development of the required infrastructure, utilities and facilities.
SaSEZ the Zone B covers an area of 220 hectares and two Japanese companies are now building factories on the site. One of these is the Nikon Corporation, which has a factory under the name of Nikon Lao co., Ltd. builds
"The roof is now going on and the company hopes to start construction in August and completion operations a month later," Phommasthit said.
Nikon's activities in Laos open the door for at least 20 companies from also the Nikon Group company here.
The agreement the parties may jointly develop, manage and operate the project (SaSEZ the Site B) the establishment of the required infrastructure, utilities and facilities of the highest standards to meet and needs of both foreign and domestic investment.
With the accession to the PPSEZ BALJIT and NCC in the development, the tripartite cooperation will set up a new joint venture named Suresh-Japan Joint Development Company Limited with a view to listing on the Lao stock exchange within the next three years.
In her comments on the signing ceremony said the Minister to the Government Office and the Vice President of the National Committee for the particular and specific economic Zones Management, Khattiya Bouatha, "contemporary signing will improve the cooperation between Laos and Japan and building the SaSEZ as a model of economic cooperation and development. This is something that the Government of Laos has had in mind for a long time. "
Masato has responded to the special features of Japanese operators, say that they take a long time to treat before making any investment decision because they not only the short display of opinion but also look at potential revenue in the long run.
"The creation of the Shiny-Japan economic zone will help keep the Lao economy in ways both direct and indirect.These include the employment and building a modern city which is a technological hub, "said Masato through an interpreter.
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