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Special economic zone discussed
The Lao National Committee for Special and Specific Economic Zones yesterday held its annual nationwide workshop on Special and Specific Economic Zones Development and Management.
"This workshop is to review the implementation of the NCSEZ over the last one year and approve plans and strategies for the Special and Specific Economic Zones Development and Management to attract more foreign investment for the implementation of the special economic and specific economic zones," said Deputy Prime Minister and also President of Lao National Committee for Special and Specific Economic Zones, Mr. Somsavat Lengsavsad.
"The special economic and specific economic zones play an important role in materializing the four breakthroughs of the resolution of the 9th Party Congress, mainly in term of economic growth, management mechanism, infrastructure development, income generation for the Lao people and poverty reduction," said Mr. Somsavat.
The government has endorsed Decree on Special and Specific Economic Zones Development and Management No 443/PM, dated Oct. 26, 2010 and it was then approved by the Standing Committee of the National Assembly, according to Mr. Somsavat.
The policy on Special and Specific Economic Zones Development in Laos is different from those for China and Vietnam because the government offer foreign companies a larger access to the development of the special and specific economic zones in the country unlike in China and Vietnam where their local investors are always given priority so that they have fewer foreign investors investing in the economic zones.
At the meeting, the participants also discussed action plans for the national socio-economic development plan.
kpl laos new agency
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