(KPL) Shanghai Wanfeng Group held on Nov 5 a groundbreaking ceremony for the administration office of the That Luang Lake Specific Economic Zone, a US$1.7-billion project with a concessional period of 99 years.
The Chinese corporation also launched on the same day the luxury Qube Hotel, and an international wholesales market of agricultural products.
The events were witnessed by Vientiane Mayor Sinlavong Khouthphaythoune, Deputy Minister of Planning and Investment Khamchan Vongsenboune, Deputy Minister of Information, Culture and Tourism Savankhone Razmountry along with relevant officials of Laos and China.
That Luang Lake Specific Economic Zone, sized 8 million square metres, has been designed to have shopping centres, department stores, hotels, hospitals, schools, and international residential and financial centres.
The zone is expected to draw over 300,000 business people, job seekers and residents.
Motivated by the investment promotion policy of the Lao PDR and the Belt and Road Initiative of President Xi Jinping, our company has confidently invested in the Lao PDR, in this project, said Wang Guaping, Chairman of the That Luang Lake Specific Economic Zone.
In the future, the That Luang Lake Specific Economic Zone will become a new city that meets international standards and a new symbol of this Southeast Asian capital city, said Wang Guaping.
Source: Lao News Agency