A new Special Economic Zone project in Vang Vieng has reported progress in its feasibility study and socio-economic impact studies.
The project, which will cover some 7,000 hectares, lies to the west of the Xong River.
According to a report by KPL News, Chinese investor Lao-Vang Vieng New Area Development Company has spent two years undertaking a feasibility study for the development of its new Special Economic Zone (SEZ) in Vang Vieng District, Vientiane Province.
Director of Lao-Vang Vieng New Area Development Company, Mr. Thang Zinxuan, said the project is being divided into five construction phases spanning 29 years, with a total value of USD 5.3 billion.
He said the project will be based on strong infrastructure, including new roads, four bridges across the Xong River, a shopping center, a school, a hospital, unique temple grounds, and a convention center. The project will also include several natural tourism sites to attract international visitors.
The project feasibility study, environmental and social impact assessment, and concession survey are now complete, according to Mr. Thang Zinxuan.
“This sustainable tourism development project covers 7,000 hectares of land in Vang Vieng, and is expected to create 27,800 jobs,” he said, noting that the project does not require the displacement or movement of any villagers.
The project remains at the concession negotiation stage while making preparations for construction in coordination with the government.
A Memorandum of Understanding (MOU) was signed between the Lao-Vang Vieng New Area Development Company and the Government of Laos in 2018.
Travel time between Vientiane and Vang Vieng will be greatly reduced following the completion of the Chinese-funded Vientiane-Vang Vieng Expressway, due to open this year.