BUILDING A PROSPEROUS DEVELOPMENT ZONE

Bounnhang Vorachith, general secretary of the Lao People's Revolutionary Party Central Committee and president of Laos,expects to build Saysettha Comprehensive Development Zone in the capital Vientiane,a state-level cooperative project jointly established with China, into a green,sustainable and prosperous development zone.

Bounnhang Vorachith, general secretary of the Lao People's Revolutionary Party Central Committee and president of Laos, visits Saysettha Comprehensive Development Zone in Vientiane on March 8.

The Lao president, accompanied by other government officials and Chinese Ambassador to Laos Jiang Zaidong,inspected the Saysettha Comprehensive Development Zone on March 8.

Chen Wenshan, chairman of China Yunnan Construction and Investment Holding Group (YCIH), introduced his company and outlined its investment and construction projects to the Lao president.

President Bounnhang affirmed that the development zone has been maintaining a fast pace in investment, construction and promotion. He praised the YCIH's important contributions to Laos' economic and social development through engineering contracting and investment.

After nearly a decade, US$1 billion has been invested in the zone's infrastructure,and the zone has welcomed 57 enterprises with a total investment of over US$1 billion.By the end of next year, total output in the zone is expected to exceed US$1.5 billion,with about 10,000 jobs created.

Vientiane Saysettha Comprehensive Development Zone, covering an area of 11.5 square kilometers, was jointly developed by the YCIH and the municipal government of Vientiane. It is a state-level cooperative project between China and Laos and China's only state-level overseas economic and trade cooperation zone in Laos. It is noted as an early harvest project of the Belt and Road Initiative proposed by China.