General Secretary of the Lao People's Revolutionary Party Central Committee and Lao President Thongloun Sisoulith has called on state authorities to work with the Vientiane Logistics Park (VLP), set up at the Lao end of the China-Laos Railway, for the country to become a regional logistics hub.
The leader made the suggestion on Wednesday during his visit to the park, the country's first-ever integrated logistics park on the outskirts of the Lao capital Vientiane.
Thongloun called on relevant ministries to work with the park to facilitate its operation and formulate necessary legislation on logistics to better regulate the industry.
Open for services since December 4, 2021, one day after the opening of the China-Laos Railway, the VLP and its dry port have provided cost-effective services for the shipment of products to regional markets and beyond, according to the local daily Vientiane Times.
Since its inauguration, the park has recorded increasing shipments of freight between Thailand and China, thanks to facilitation offered by Laos-Thailand and China-Laos railways, which both connect to the park.
It is estimated that about 5 million containers will be shifted through Laos each year until 2030, with 2 million containers a year to be moved through the park and railways.
Based on this estimation, the park is projected to generate about 400 million U.S. dollars of direct revenue into the state budget.