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The government of Laos has identified certain large-scale investment projects will benefit from an influx of skilled workers, including the Amata Smart & Eco City in Luang Namtha and Oudomxay Provinces, the new international airport in Bokeo, a giant Buddha image construction project at the That Luang Marsh, an Infrastructure Development Project in the Golden Triangle, among others, Pasaxon reports.
Acting Director-General of the Special Economic Zone Promotion and Management Office, Mr. Sonepasert Dalavong, says that despite young people representing 60% of the population, domestic labor skills development is insufficient to meet labor demand in each SEZ.
Some 1,075 companies have invested in special economic zones in Laos, with investments from China, Japan, Denmark, France, and Thailand, said Acting Director-General Sonepasert Dalavong.
“Investment companies have contributed more than LAK 481 billion to the national budget, as well as exports worth more than USD 2.3 billion, resulting in the creation of 52,319 jobs. Of these, only 23,158 are Lao workers,” said Mr. Sonepasert Dalavong. “Since 2003, 21 special economic zones have been established in seven provinces covering 15,000 hectares,” Mr. Sonepasert Dalavong added.
The government of Laos has said it will attempt to attract more than 700 companies to invest in Special Economic Zones over the next five years, saying these companies would create over 130,000 jobs. At the same time, authorities would be able to collect over LAK 1.2 trillion in revenue through taxation.