The Lao Ministry of Planning and Investment signed an agreement with Vietnam-based company Long Thanh on Dec 26, permitting it to invest one billion USD in a recreation development project in Laos .
The project, which includes a golf course, a five-star hotel and luxury villas, will cover 557 hectares in the Lao capital of Vientiane, with a business period of 50 years and another 25 years at the investor’s discretion.
The ministry handed the project’s licence to the company’s representative at the signing ceremony, which was attended by several officials from the two countries.
Long Thanh Golf Investment and Trading Joint Stock Co., operates in the golf and hotel industries with a golf club and several golf courses in southern Vietnam
Where can they find such 557 Ha near Vientiane, for so useless thing?????
What do they have in their head? Who in Laos will be able to benefits from those infrastructre (pay the high price for luxury services)?
Do you imagine how much water will they need at dry season to get this beautifull green grass? Don't you think this water would be more usefull in rice fileds, producing some food for lao population, and giving them usefull job?
For sure Laos have better to do of so much ressources rather than offering it to a few rich tourists, who will enrich only the vietnamese investor, and not lao people.
oups.. just searching on internet, i see they plan to do this in Ban Dongphosy!
For sure i hope this place can develop, but not this way.... They will have to take land to lao people for this, because there is not so much free place there!
Who will accept to sell it's land for such project? not me! My family need it to work and get revenue!
i WAS LOOKING FOR A JOB at The Lao Ministry of Planning and Investment, but they asked me to wait..... you know why I wanted to work there, because $$$$$$ in the future...damnnnnnnnnnnnn
An 18-hole golf course and luxury hotel valued at US$1 billion will be developed 15km outside Vientiane 's city centre, after a Vietnamese company received government approval for the project.
Long Thanh Golf Club Residential Estate will develop 500 hectares of the Dongphosy area in Sisattanak district between 2009 and 2020, and hopes to complete the golf course next year, according to company President, Ms Tran Cam Nhung.
Ms Tran signed the project development agreement with the Ministry of Planning and Investment in Vientiane on Friday, which granted the company use of the land for up to 75 years.
Project coordinator, Mr Thong Philavong, said the company had developed successful golf courses and tourism facilities in Vietnam , which made it confident that its investment in Laos would be lucrative.
“Don't worry about who will use the services and the high-class tourism facilities,” he told Vientiane Times.
“The company has a number of customers lined up and has networks around the world.”
Mr Thong said the company considered Laos to have a great amount of potential in the tourism sector, as a destination in its own right, and as a transit country for other destinations in Southeast Asia .
The Dongphosy area belongs to the state but there are a number of people occupying the proposed site, according to an official from the Ministry of Planning and Investment.
“No one in the area has app ropriate land certifications for the land they are occupying, and the people living on the land will be happy to leave the area if the government requires it,” he said.
“The company has also agreed to provide some compensation to people who are involved in agricultural activities in the area.”
Deputy Minister of Planning and Investment, Mr Thongmy Phomvisay, signed the agreement on behalf of the government.
Vietnam was the third largest investor in Laos in 2008 after China and Thailand . Vietnamese companies commonly invest in hydropower and mining projects. Laos generated foreign investment of more than US$1 billion this year, which was about 40 percent above the government's target.
By Ekaphone Phouthonesy (Latest Update December 29, 2008)
