A Memorandum of Understanding (MoU) on investment in Savan-Seno Special Economic Zone (SSSEZ) between the SSSEZ Authority and Thai Airports Ground Services (TAGS) was signed here on 12 December at Donchan Palace Hotel in Vientiane Capital jointly by Mr Bouakham Sisoulat, representative of the Lao government and SSSEZ Authority Governor and Anouphong Rotchanoukarin, TAGS President.
MOU focuses the feasibility study and design of investment in 270- hectare SSSEZ with the aim of establishing a trade and Investment centre and crossroad service. The Lao Government holds 30 percent of share, while other 70 percent TAGS.
The main target is to use advantage potential and strategy of the area as East-West Economic Corridor to attract both domestic and foreign investments in the processing industry, trade and service and focuses on employment creation and improving living conditions of people.
The main works after the MoU was signed are survey, design, land clearing, resettlement and infrastructure improvement.
This project is authorized by the Lao government.