Saysettha Comprehensive Development Zone in Vientiane, Laos, has become an important partner for Chinese enterprises to invest in Laos.
Covering an area of 11.49 square kilometers, it is China’s only overseas economic and trade cooperation zone in Laos as well as the first State-level comprehensive development zone in Laos.
In recent years, the number of settled enterprises has increased by leaps and bounds, from 39 at the end of 2017 to 107 at the beginning of 2022.
Among them, Chinese-funded enterprises accounted for 73.62 percent. Others include enterprises from other countries such as Laos, Thailand, Japan, the United States, Malaysia, and Singapore.
These enterprises are involved in warehousing and logistics, energy and chemical industry, electronic product manufacturing, biomedicine, agricultural product processing, textile processing, headquarters economy, business services, and the health and wellness industry.
The first-phase project-the Vientiane New Town Demonstration Zone- has been completed, which can provide a full range of support services for settled enterprises.
Li Xiaodong, vice president of Yunnan Overseas Investment Co., Ltd., developer of the zone, said after all the enterprises enter operation, their annual output value is expected to exceed $1.8 billion and help create more than 10,000 local jobs.
"The role of Vientiane Saysettha Development Zone as a platform accommodating overseas investment and production capacity transfer of Chinese enterprises in Laos has become more and more prominent,” he said.
The zone’s petrochemical refinery site with a capacity of 3 million tons/year is the first and only petrochemical project in Laos. The project effectively fills the gap in Laos' petrochemical industry and changes the situation of completely relying on imports for refined oil.
Enterprises in the zone are enjoying promising development for the Yunnan Overseas Investment plans to shape the zone into a sub-center of Vientiane in 7-10 years.
