PRESS RELEASE BY THE
EMBASSY OF MALAYSIA IN VIENTIANE, LAO PDR
EXIM BANK MALAYSIA PROMOTES
DONGPHOSY SPECIFIC ECONOMIC ZONE
DONGPHOSY SPECIFIC ECONOMIC ZONE, VIENTIANE CAPITAL
25 AUGUST 2016
1. Dongphosy Specific Economic Zone (DSEZ) hosted the official visit of the top management team of EXIM Bank Malaysia, Chairman of the Board, Datuk Mat Noor Nawi and Chief Executive Officer and President, Madam Norzilah Mohammed to the Dongphosy Special Economic Zone in the Hadxaifong District, Vientiane Capital on 25th August 2016.
2. The top management team of EXIM Bank Malaysia showed keen support as the financier of the development in partnership with the Lao Joint Development Bank to accelerate the development of the infrastructure and 340 retail shoplots of the iconic 53 hectares retail and tourism Duty-Free Special Economic Zone in Vientiane Capital.
3. The DSEZ is a key national project jointly developed by a Malaysian company UPL Lao Co. Ltd and the Lao Government at a right junction of the commissioning of the Kunming-Vientiane highspeed train station at the vicinity, the Vientiane Logistic Park and situated next to the 1st Lao-Thai Friendship Bridge. The DSEZ is a strategic partnership between government and private sector business initiative to create a modern shopping and trade hub to cater for international tourists and the Lao shoppers.
4. Following the visit of the Honourable Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry of Malaysia, to the DSEZ early this month, the EXIM Bank had echoed the Honourable Minister in applauding the UPL Lao’s commitment to create an international standard commercial property development centre and thus further promoting Malaysian brands in Lao PDR.
5. The top management team of EXIM Bank was given a briefing by Mr Soubahn Chounraxa, Chairperson of the Dongphosy Specific Economic Zone Executive Board, to invite Malaysians to invest in the DSEZ. Among others, he highlighted the Lao PDR Government's commitment to create an attractive business ecosystem in the DSEZ which includes financial incentives and modernised friendly policies for foreign business ownership and ease of doing business in the country. Related to this, Mr. Soubahn further detailed the many tax incentives at the disposal of the future investors at the DSEZ.
6. The EXIM Bank tour of the DSEZ was accompanied by His Excellency Dato' Than Tai Hing, the Malaysian Ambassador to the Lao PDR who is supportive of the DSEZ’s unique development concept that is a combination of business incentives and business activities including a hybrid hypermarket and do-it-yourself centre, specialist hospital and medical hub, international standard business park, high end residential units, mixed-use integrated resort and the largest al-fresco retail shophouse complex.
7. The top management team of EXIM Bank Malaysia concluded the tour by stating that EXIM Bank Malaysia was committed to help strengthening of the collaboration between Malaysia and Lao PDR business partnership through the DSEZ as one of the attractive investment destinations in the country and promoting Malaysian companies to explore business opportunities and establish themselves in the Lao PDR.
Embassy of Malaysia in Vientiane
25 August 2016