Two Cement factories in Vang Vieng will be transformed into tourism sites and developers are currently applying for an investment permit for the project, which is expected to be approved in August.
Both Vangvieng Cement Plant 1 and Vangvieng Cement Plant 2 were severely affected by the COVID-19 outbreak and the economic situation in the country, which resulted in their shutdown in 2020.
Mr. Khamponh Saylaovong, Deputy Director of the State Enterprise for Agriculture-Industry Development, Import-Export, and General Services, said that the factory holds significance because it was one of the symbols printed on the 1997 Lao government bond.
Once the investment permit is approved, the cement plants will still be preserved while being repurposed as tourist attractions. The project was planned to dismantle the machinery from the two existing cement factories and renovate them into the Lao Industrial Museum, which will be open to tourists and locals alike.
Additionally, the complex will feature a botanical garden, a zoo, a theater for multiethnic Lao artists, a replica of the ancient city of Lanxang, streets with gift shops and hotels, alongside elephant shows, parades and rides for tourists.
The construction project in the first phase is expected to cost USD 100 million, create jobs for hundreds of locals living nearby, and boost the local economy.
Mr. Khamponh said that the project will be funded by Chinese investors as the Lao Cement Public Company is a joint venture with Yunnan Qianhan Technology Network Co., Ltd.
The company’s headquarters are located in Vientiane Capital, and it is currently seeking to change its name to the Lao Cultural Tourism Public Company and extend its concession period from 2027 to 2077.
According to Mr. Khamponh, the goal of the project is to create a green space to preserve the natural environment, attract tourists to Laos, and encourage residents to practice farming to provide fresh food for tourists.
The Lao Cement Company’s plans are in line with the government’s policy of turning an economic crisis into an opportunity and becoming self-sufficient as a business, performing with the highest efficiency.
