SEZ import-export value hits US$679m in 2018

Date: 22, Jan, 2019   Time: 9:24 am
Logistics Park at the Savan Seno SEZ.

Logistics Park at the Savan Seno SEZ.

The value of imports and exports from special and specific economic zones (SEZs) in Laos reached around US$679 million in 2018.

The value of imports topped US$430 million, while the value of exports stood at US$249 million.

Imported products included raw materials, machines and equipment for production and infrastructure construction.

SEZs that imported large quantities of goods included Savan Seno SEZ in Savannakhet province, Saysettha Development Zone in Vientiane, Vientiane Nonthong Industry and Trade Park (VITA Park), the Golden Triangle SEZ in Bokeo province and others.

Exported products included electronic items, glasses, cameras, clothing, hair wigs and toys. Savan Seno SEZ,  Saysettha Development Zone, VITA Park and Pakxe- Japan SME SEZ were the largest exporters, according to a recent report of the Committee for Investment Promotion and Management.

The value of exports from the SEZs reached US$325.8 million in 2017 while the value of imports hit US$479 million.

Imported products included machines, raw materials and construction equipment for infrastructure development in the zones.

SEZs that imported significant quantities of goods in 2017 included Savan-Seno SEZ, Saysettha Development Zone, and Golden Triangle SEZ.

SEZs which exported significant quantities of goods in 2017 included Savan-Seno SEZ, VITA Park and Pakxe- Japan SME.

So far, 593 domestic and foreign companies (89 domestic companies, 474 foreign companies and 29 joint venture companies between Laos and foreigners) have registered operations in special and specific economic zones.

The Golden Triangle SEZ in Bokeo province contains 147 companies, there are 128 companies in the Boten SEZ in Luang Namtha province, 177 in the Savan Seno SEZ in Savannakhet province, 48 in the Saysettha Development Zone in Vientiane, 47 in the Vientiane Industrial and Trade Area (VITA Park), 33 in the Pakxe-Japan SME SEZ in Champassak province, and 73 companies in other SEZs.

The government earned more than US$13 million from special and specific economic zones nationwide, a threefold increase compared to previous years.

SEZs created jobs for 8,105 more people including 6,806 foreign employees and 1,299 Lao employees.

 

Source: Vientiane Times Issue 18 (22 Jan 2019)