Korean company invests in mega project in Laos
The General Logistics Department of the Lao Ministry of Public Security recently signed documents to grant the right for the use of state land 62km from Vientiane capital for the construction of a 2.9-billion USD resort complex.
Representatives of the Lao Ministry of Public Security and the Oriental Pearl Company Limited, a private company from the Republic of Korea, exchange the signed agreements. (Photo: Vientiane Times)An area of 1,200 hectares under the management of
the Ministry of Public Security will be used by Oriental Pearl Company
Limited, a private company from the Republic of Korea (RoK), to build the
complex, according to Vientiane Times.
The development will initially involve the construction of a new town, a tourist site and service complex centre, and will aim to boost economic growth and generate job opportunities for local people.
It is also envisaged that the project will be a boost to local investment projects by small and medium-sized enterprises (SMEs), especially for vendors in Phonhong district, Vientiane province.
Once successful, this will be the biggest project between the RoK in Laos./.
The development will initially involve the construction of a new town, a tourist site and service complex centre, and will aim to boost economic growth and generate job opportunities for local people.
It is also envisaged that the project will be a boost to local investment projects by small and medium-sized enterprises (SMEs), especially for vendors in Phonhong district, Vientiane province.
Once successful, this will be the biggest project between the RoK in Laos./.
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