MALAYSIAN FIRM TO DEVELOP SPECIAL ECONOMIC ZONE IN LAOS

From Arul Rajoo

VIENTIANE, Sept 14 (Bernama) -- A Malaysian company, Universal Pacific Ltd has been given a 50-year concession by the Laos Government to develop a special economic zone near the newly-completed Laos-Thai railway line across the Mekong River.

According to Malaysian and Laos officials here, the company was expected to
allocate US$50 million to develop the 53-hectare zone located in Dongphosy at
the Laos-Thai Friendship Bridge.

"This is an area with great potential as it is close to Thailand, has a
railway line which is important for transportation of goods and more so, future
plans to extend the track to Vietnam and China," a Malaysian official said here.

Thailand funded the 197 million baht 3.5 km railway to its land-locked
neighbour, linking the Kingdom's northeast city of Nong Khai and Dongphosy,
located about 25km from the capital.

According to Vientiane Times daily, the agreement was signed last Saturday
by Vientiane Department of Industry and Commerce Director Berlinh
Phetchantharath and Universal Pacific Chairman Terence Lai.

The company is expected to undertake a mixed development project over a
period of 10 years, comprising 3-star hotels, a shopping mall, hospital, bank,
public park, duty free market, spa and sports facilities.

Many Malaysian companies are involved in the hospitality, services and
construction sectors in Laos, among them Gamuda, Public Bank and Lao Syuen
Development Co.

--BERNAMA