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That Luang Marsh Specific Economic Zone Expected To Be Completed By 2030
August 28th, 2020 | 13:46 PM | 412 views
(KPL) The development of the That Luang Marsh Specific Economic Zone, located in the heart of Vientiane is expected to be completed by 2030, according to Mrs Huang Xiuwen, Vice President of the That Luang Marsh Specific Economic Zone.
“This project will be able to attract more and more tourists to the Lao PDR,” said on Aug 25 Mrs Huang Xiuwen.
The development of the project started in 2012 and a significant progress has been witnessed in basic infrastructure development such as land reclamation, construction of roads, underground infrastructures, apartments, and agricultural markets, among others.
A sitting Buddha statue standing around 100 metres will be also built on the marsh. “When completed, the statue will be able to draw millions of tourists from Southeast Asia and around the world to Vientiane,” said Fu Jian, Vice General Manager, That Luang Marsh Specific Economic Zone.
More partners are being sought to investing in developing a commercial precinct and other trade facilities in the zone.
The period between 2021 and 2025 has been designed for building the Lao National Convention and Exhibition Centre and the 500,000-sq-m That Luang Trade Management Centre.
The zone sized 8.77 million sq m is expected to accommodate up to 300,000 people.
The whole zone is divided into over 100 plots covering the main functional areas of finance, commerce, housing, entertainment and other precincts as well as planning support for services such as municipal, medical, cultural, educational and religious facilities.
The government believes the project will significantly contribute to boosting the country’s economic growth and generate job opportunities for local people.
The US$5-billion That Luang Marsh Special Economic Zone Project, invested by a Chinese company Wan Feng Shanghai Real Estate, has been granted a 99-year concession by the Lao government.
courtesy of KPL NEWS AGENCY
by KPL Lao News Agency
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