VIENTIANE (Vientiane Times/Asia News Network): Phongsaly provincial authorities have given the green light to a Chinese business group to carry out survey and a feasibility study on the development of a new Triangle Special Economic Zone (SEZ), local media reported.
If approved, the zone would be located in the province’s Nhot-ou district at the shared border between Laos, China and Vietnam.
A Memorandum of Understanding (MOU) was signed on Tuesday (Aug 24) between a representative of the business group and provincial authorities, permitting the investors to carry out the survey and feasibility study in relation to the project.
Witnessing the signing at the provincial Administration Office were provincial Governor Khamphoy Vannasarn, the group’s executives, and officials from both sides, the Lao Economic Daily reported.
Under the MOU, the investor is required to begin the survey and feasibility study within 30 days of signing the agreement, which is valid for 18 months.
The Chinese group will survey an area of about 250sq km for the project, Deputy Director General of the provincial Planning and Investment Department, Khammala Souvong, told those attending the signing ceremony.
The site would include 100sq km for services and tourism, while the remaining 150sq km would be used for agriculture and industry development.
The precise areas allocated for development will be more clearly defined after the survey is complete. A report in this regard will be submitted to provincial authorities and the government for consideration.
The investors will also survey and design a road linking Yai-ouneua village to the planned development site. A social and environmental impact assessment will also be carried out.
The feasibility study and survey will be used as a reference to draw up a master plan for the development of the Triangle SEZ.