The Largest Special Economic Zone With an Area Five Times of Hong Kong in Laos to Be Built by the Enterprise From China Guangcai Group

The first Sino-Laos “One Belt, One Road” new area cooperation development project is about to be launched

Press Release updated: Oct 25, 2017 11:35 EDT

​​​​Recently, Bozon Bupaiwan, the former prime minister of Laos, and the current president of Laos Economic Research Institute, led a group of people to the headquarters of Beijing Guangcai Group and attended the first Sino-Laos new area “Boloven Economic Zone” Development Symposium at the 6th floor conference room. A total of more than 70 people participated in the meeting, including people from Guangcai Group and Chinese business representatives and discussed the cooperative development significance and prospect of Sino-Laos “Boloven Economic Zone”. Large-scale central enterprise representatives, such as China Communications Construction Corp, China State Construction Engineering Co., Ltd, and China Galaxy Financial Holdings, attended the meeting. China Development Bank, Export-Import Bank of China and other financial institutions also participated in the conversation.

Songen Deunsa, Vice Dean of the Lao National Economic Research Institute, introduced the Boloven Economic Zone. The total planning area of the Boloven Economic Zone is about 529,000 hectares, about 5 Times the size of Hong Kong. It is at the center of four provinces in the south of Laos. The border is located between Vietnam and Cambodia, as an international route, as well as an important part of the “One Belt, One Road”. Songen Deunsa claimed that the Boloven economic new area is 900-1700m above the sea, with a very cool climate. It is beneficial to develop agriculture, farming, animal husbandry, aquaculture, cultural tourism and so on. The goal of “Boloven Economic zone” is to be established as a green and sustainable development zone in 2030.

“‘Boloven Economic Zone’ has a complete plan; secondly, ‘Boloven Economic Zone’ puts the basic construction in a very good position; thirdly, the ‘Boloven Economic zone’ is green and sustainable when it comes to building industrial and agricultural projects; fourth, the ‘shared economy’ business model deserves everyone’s attention. After more than 30 years of reform and opening up, people came to know that in order to save resources, manpower, and time, we can do carpooling, and now the developed ‘bike sharing’ mode has greatly inspired people,” Hu Deping, chairman of China Biodiversity and Green Development Foundation, said at the symposium. At the invitation of Bozon Bupaiwan, the former prime minister of Laos and president of the current Lao National Economic Research Institute, Hu Deping said that he would accept the invitation and visit Laos once he has the opportunity. Also, the China Biodiversity and Green Development Foundation said that they would organize enterprises to support the development of “Boloven Economic Zone”.

Bozon Bupaiwan, the former prime minister of Laos and president of the current National Economic Research Institute, said that the “Boloven Economic Zone” would have a great impact on the local region, and that China and Laos would take a new step in strategic partnership cooperation, and that the implementation of the Boloven Economic Zone would turn out to be a good opportunity.

Liu Yi, vice president of Guangcai Group, said that in late August this year, Mr. Ren Wei, the president of Guangcai Group, led the team to visit Laos again and inspected the project of Boloven Economic Zone. Upon reaching a consensus on the development and construction of “Boloven Economic Zone”, they signed a memorandum of cooperation, which is now being approved and progress was made in the current stage. With the opening of the old railway and the construction of the international airport, more and more Chinese people are traveling to Laos, which brings big economic growth in Laos. Guangcai Group hopes to regard the development of “Boloven Economic Zone” as a starting point in jointly developing a new area economy, and promote the “One Belt, One Road” development strategy in Southeast Asia. Guangcai Group will unite various types of enterprises in China to jointly develop “Boloven Economic Zone”. As the leading group, Guangcai Group will jointly carry out the first-class development of the “Boloven Economic Zone” together with the Lao local government, giving its advantages in the development of agriculture, science and technology, cultural tourism and other fields to full play. By introducing China’s successful industries and experience to Laos, we hope to lead the local people to become rich and promote Boloven economic development.

At the symposium, senior experts at the China Development Bank said that the China Development Bank has offered the cumulative loan balance of more than 100 billion U.S. dollars to countries along the “One Belt, One Road” line, and has cooperated with many countries, willing to support the construction of “Boloven Economic Zone” and other overseas development zones.

According to this symposium, Bozon Bupaiwan, the former prime minister of Laos, the current president of the Lao National Economic Research Institute, accompanied by relevant leaders of the Chinese People’s Institute of Foreign Affairs and the Guangcai Group, also visited the Development Research Center of the State Council and the International Cooperation and Exchange Center of the NDRC, and exchanged views about the cooperation issues between China and Laos with them.

Hu Deping concluded: “‘Boloven Plateau Economic Zone’ has a good planning blueprint and I hope that Chinese entrepreneurs can invest in its development and construction. Chinese entrepreneurs must respect local culture, especially the local Buddhist culture, for Laos is a Buddhist country. If Chinese companies are going to invest in Laos, of course there would be competition, but I think excessive competition in Southeast Asian countries is not what they want since they need green development. A country needs to make money, but the common people’s income must be raised, which can avoid the rich and poor gap from being too big, and relieve the masses-and-governors tension and confrontation. I wish Laos will be better in a good direction towards development. Hence, I have to say, if our entrepreneurs enter this new area to invest and carry out successful cooperation, we need to come up with real gold and silver, but more importantly, mutual benefit and sincerity. Finally, I hope that in the process of investment, everyone here will become friends with each other. Old friendship lasts forever!”

Ren Jie, chairman of Brilliance International Investment Group, said that they would develop a new special economic zone with some resorts and financial institutions as well as some leading figures from various industries with the full support of the Laos government. In addition, he also expressed that they were confident and determined to build the largest Asian eco-agricultural tourism economic zone in Laos with the support of the China Central Enterprises and these industrial leaders.

Source: Guangcai Group

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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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