Giant investment project to Laos submitted to Government

The Ministry of Planning and Investment (MoPI) has submitted to the Prime Minister for approval a 1 billion USD project to build a golf course, five-star hotels and hostels in Vientiane , Laos .

If approved, it will be Vietnam ’s ever largest investment project abroad.

The project’s investor, Long Thanh Golf Investment and Business Joint Stock Company, said it plans to mobilise capital from share holders, domestic and foreign partners and bank loans.

According to the MoPI, Vietnam is the largest foreign investor in Laos with 146 projects worth 1.5 billion USD.

In the first 11 months of 2008, Vietnamese businesses invested in 52 projects in Laos with total registered capital of 450 million USD.

Half of the investment (54.7 percent) is poured into hydro-power plants, while 29.9 percent go into industrial tree planting. Mining projects account for 8 percent of the capital, and the remainder is invested in wood processing, industry and pharmaceuticals.

Source: VNA

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