www.lao-vita.com © Nam Wei Development Co., Ltd
Nam Wei Development Co., Ltd. started a land development business in the Laotian capital, Vientiane, in 2009; then on the 30th of October of the same year, the Ministry of Planning and Investment of the central government of Laos officially ratified the establishment of the free-trade industrial economic zone VITA PARK.
The park is a joint partnership venture between the Laotian Government, holding 30% ownership, and Nam Wei Development Co., Ltd., holding 70% ownership. Phase I of the park project covers an area of 110 hectares of park area; in the future, expansion projects shall see to the development of another 500 hectares of park land.
There were 53 companies invested in the park up till now, which 15 companies among them have completed their plant facilities and started operation. It’s estimated that another 30 companies will be functioned in the park by year 2018. There is a contract between us with the government on the provision of 500 hectares of land area for future expansion.
The commercial zone, the school of technology, the hospital and the other facilities within Vita Park will begin construction in year 2018. According to the contract signed with the government, it is expected to transform Vita Park into one-stop Park internationally in the next five years in order to satisfy everyone’s essential needs. According to the government policy, the entrepreneur and their employees of the park as well as the residents of adjacent villages will enjoy the benefit from this development.
1. The park is just about 24KM drive from the capital of Laos, Vientiane; moreover, the park administration personnel could easily relay the investors’ requirements to the National Committee for Special Economic Zone of Laos for resolution.
2. Air and land transportations are easily accessible since Vientiane is the transportation hub of the country. The international airport is merely 10 minutes drive away from the city center.
3. One could reach the Bangkok harbor by train from Vientiane, and train fare is affordable. Moreover, it is a mere 4KM distance from the freight train station of the high-speed rail soon to be constructed between China and Laos.
4. The high-speed rail between China and Laos shall be open to traffic in 2020 and will provide a direct link to the railway system of China. The opening of this route will further facilitate passenger and cargo transportation convenience.
5. Vientiane has a well-developed education system and sufficient human resource. Businesses would find it easy to recruit workers, and as commerce, industry, and technology are concentrated in the capital city area, repair services and material supplies are easy to come by.
6. Located in the prime center of the country where development is fast rising, investments in the area are prone to gain and maintain their values. Currently, there is no point of comparison between Vientiane and other parts of the Laos.
7. Investors enjoy the special courtesy and tax incentives afforded to businesses located within Vita Park.
8. Investors may request for and process the related application and government forms and documents with the park management authorities, thus saving themselves the bother and time of traveling to the city for this purpose. Bureaucratic processing red tapes for investment applications in the park is summarized, thus investors may save time and avoid unnecessary expenses in application processing.
9. Businesses may search for the necessary human resources through the technical training center within the park, a joint venture established by VITA Park and the Lao government authorities.
10. Land price in the park area is cheaper than local land price, creating an incomparable competitive advantage for businesses.
11. Maximum lease period of the initial land lease is seventy-five years; however, lease period may be extended depending on requirement.
12. The park zone is complete with the necessary infrastructures, greatly reducing building construction difficulties and problems.