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Another new development in Laos which makes me want to puke but at the same time I also realize that progress can't be stopped - this time in Savannakhet with the "Savan City Project" - see SavanCity and an amazing video about the project:
From the Vientiane Times:
Savan city project to create international gateway to Asean
Savan City Co., Ltd and Asean Union Inc have agreed to establish joint investment companies within the Savan city project, Savan-Seno Special Economic Zone (SSEZ) in Kaysone Phomvihane district, Savannakhet province. A number of commitments from various industries included a joint investment agreement between Savan City Co., Ltd and Asean Union Inc to establish Asean Union Resort Hotel and Entertainment Ltd, Asean Union Bank Limited, and Savan Gateway Limited.
Meanwhile Khounlasy Trading Export Import Co., Ltd and Greenstar Finance Hong Kong will establish Malaysia-Lao International Bank Limited; Savan City Co., Ltd and Aderans Lao Company Limited will construct Aderans Handicraft Centre and Apartments with 250 rooms. Savan City Co., Ltd and Keerapat International School will also establish Keerapat International School at Savan City Campus. Savan-Seno Savannakhet Special Economic Zone, located ideally by the border to Thailand, and linked by road and rail to Cambodia, Vietnam, Myanmar and most importantly China, is positioned to become the trading, industrial and financial hub of Asean.
With billions of dollars in commitments and investments by Asean based companies, including banks, developers, manufacturers, education and hospitality specialists it is poised for rapid growth. Spearheaded by Savan City., Ltd, a Lao government linked company and Asean Union Inc, a Labuan based, multi-development specialist. The zone is divided into four key sectors that cater specially for each industry, services, commercial and financial, tourism and hospitality, manufacturing and heavy industries.
The CEO of Savan City Co., Ltd. Mr Chanchai Jaturaphagorn said there are several key projects that will landmark Sava-Seno, primarily, the Asean financial hub. The hub will be within an autonomous zone providing a plethora of financial services and products, governed and regulated by its own financial authority, the Laos Financial Services Commission. This unique setup will not only act as a catalyst for regional investment and trade via Laos but also provide opportunities for social and economic development for the local populace. The Integrated Entertainment resort, will become a major tourism attraction for Laos with theme parks, recreation, hospitality and food. Its objective is to rival some of Asia's top entertainment regions, as we combine Lao hospitality with modern entertainment concepts and attractions, he further added. “Savan-City as a whole is more than just about building infrastructure and trade, it is about creating a sustainable and evolutionary model that will continuously link, bond and develop private and public businesses in the region. To us at Asean Union Inc, we believe in Asean; we believe that as the world's fastest growing economic region we have a responsibility to promote and help each another. The SSEZ will remove any excuse for us not to do so,” said Faidzan Hassan, Chairman of Asean Union.
As one of the biggest supporters of Asean's economic integration, the role of the Malaysian private sector is pivotal. Malaysia has the wealth, expertise and believes deeply in Asean economic integration. Therefore as one of the economic and social leaders of the region, it should not come as a surprise that we are looking at diversifying our participation and contributing towards our neigbours, he added. The signing ceremony in Vientiane took place last Thursday, with those present including Vice President of National Assembly Dr Xaysomphone Phomvihane, the President of Thai Senate House Mr Surachai Liangboonlertchai, Malaysian Ambassador to Laos Mr Dato Than Tai Ling, and Thai Ambassador to Laos, Mr Pisanu Chanvitan.
From the Vientiane Times:
Savan city project to create international gateway to Asean
Savan City Co., Ltd and Asean Union Inc have agreed to establish joint investment companies within the Savan city project, Savan-Seno Special Economic Zone (SSEZ) in Kaysone Phomvihane district, Savannakhet province. A number of commitments from various industries included a joint investment agreement between Savan City Co., Ltd and Asean Union Inc to establish Asean Union Resort Hotel and Entertainment Ltd, Asean Union Bank Limited, and Savan Gateway Limited.
Meanwhile Khounlasy Trading Export Import Co., Ltd and Greenstar Finance Hong Kong will establish Malaysia-Lao International Bank Limited; Savan City Co., Ltd and Aderans Lao Company Limited will construct Aderans Handicraft Centre and Apartments with 250 rooms. Savan City Co., Ltd and Keerapat International School will also establish Keerapat International School at Savan City Campus. Savan-Seno Savannakhet Special Economic Zone, located ideally by the border to Thailand, and linked by road and rail to Cambodia, Vietnam, Myanmar and most importantly China, is positioned to become the trading, industrial and financial hub of Asean.
With billions of dollars in commitments and investments by Asean based companies, including banks, developers, manufacturers, education and hospitality specialists it is poised for rapid growth. Spearheaded by Savan City., Ltd, a Lao government linked company and Asean Union Inc, a Labuan based, multi-development specialist. The zone is divided into four key sectors that cater specially for each industry, services, commercial and financial, tourism and hospitality, manufacturing and heavy industries.
The CEO of Savan City Co., Ltd. Mr Chanchai Jaturaphagorn said there are several key projects that will landmark Sava-Seno, primarily, the Asean financial hub. The hub will be within an autonomous zone providing a plethora of financial services and products, governed and regulated by its own financial authority, the Laos Financial Services Commission. This unique setup will not only act as a catalyst for regional investment and trade via Laos but also provide opportunities for social and economic development for the local populace. The Integrated Entertainment resort, will become a major tourism attraction for Laos with theme parks, recreation, hospitality and food. Its objective is to rival some of Asia's top entertainment regions, as we combine Lao hospitality with modern entertainment concepts and attractions, he further added. “Savan-City as a whole is more than just about building infrastructure and trade, it is about creating a sustainable and evolutionary model that will continuously link, bond and develop private and public businesses in the region. To us at Asean Union Inc, we believe in Asean; we believe that as the world's fastest growing economic region we have a responsibility to promote and help each another. The SSEZ will remove any excuse for us not to do so,” said Faidzan Hassan, Chairman of Asean Union.
As one of the biggest supporters of Asean's economic integration, the role of the Malaysian private sector is pivotal. Malaysia has the wealth, expertise and believes deeply in Asean economic integration. Therefore as one of the economic and social leaders of the region, it should not come as a surprise that we are looking at diversifying our participation and contributing towards our neigbours, he added. The signing ceremony in Vientiane took place last Thursday, with those present including Vice President of National Assembly Dr Xaysomphone Phomvihane, the President of Thai Senate House Mr Surachai Liangboonlertchai, Malaysian Ambassador to Laos Mr Dato Than Tai Ling, and Thai Ambassador to Laos, Mr Pisanu Chanvitan.
