Laos-China-Vietnam Triangle Development Proposed by Chinese Investors

[ASEAN NOW]

 

Authorities in Phongsaly Province have approved a feasibility study for the development and building of a new Special Economic Zone on the Lao-China-Vietnamese border.

 

The Phongsaly provincial administration and China's Yujia Investment Co., Ltd signed a Memorandum of Understanding (MOU) on a feasibility study for the development and construction of a new "Triangle" Special Economic Zone (SEZ) at the Laos-China-Vietnam triangle site on Tuesday, according to Socio-Economic News.

 

Ms. Khammala Souvong, Deputy Director of the Phongsaly Provincial Department of Planning and Investment, says Yujia Investment would conduct a feasibility study on the development of the Laos-China-Vietnam Triangle as a new SEZ within Laos in Phongsaly's Yot Ou District.

 

“The organization has 18 months after signing the MOU to complete the survey and a feasibility assessment,” Ms. Khammala Souvong explained.

 

A total of 250 square kilometers of land will be surveyed by the Chinese firm, with 100 square kilometers of service and tourism areas and 150 square kilometers of agriculture and industry sites.

 

The company will plan a road link from Ou Nue Village to the new triangle SEZ's border, as well as undertake a land-use survey.

 

Meanwhile, a design for the construction of the new triangular SEZ will be based on the project feasibility research, environmental and social effect assessment.