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Private investor to develop tourism industry, golf course in Vangvieng

Vang Villy Hill Company Limited, a privately-owned company under PTL Holding Company Limited, on Tuesday signed a Concession Agreement (CA) with the Government on the “Tourism Industry and Golf Course Project” in Vangvieng district, Vientiane Province.
The agreement was signed in Vientiane on Tuesday (July 26) by the Vice President of Vang Villy Hill Company Limited, Mrs Manivone Sitthixay, and Deputy Minister of Planning and Investment Mrs Khamchan Vongseanboun.
Senior officials from the public and private sectors were also present at the signing ceremony.

Vice President of Vang Villy Hill Company Limited Mrs Manivone Sitthixay (left) exchanges signed agreements with Deputy Minister of Planning and Investment Mrs Khamchan Vongseneboun after signing a project Concession Agreement on Tuesday.

Speaking at the ceremony, the company’s Vice President Mrs Manivone Sitthixay said “This CA is a remarkable agreement between the Government and private sector, which will lead the most effective cooperation and development in tourism industry as one of the top priorities for Laos.”
She added that the development of tourism will contribute to the state budget as well as benefitting all Lao people, especially the people of Vientiane Province.
The proposed project covers 261 hectares of land around the Phathaem reservoir and Pakpor and Phoudindeng villages in Vangvieng district, Vientiane province.
The 50 year-concession period will follow the Build-Operate-Transfer (BOT) model, and is initially valued at about US$358 million. This three-phase development project is expected to take at least 8-9 years to complete.
This project centres on the development of the tourism industry and a golf course to provide a new, centralised focus to tourism in Vangvieng district, with full, modernised and environmentally friendly facilities.
The project is fully designed and well-equipped with the necessary infrastructure, character and sustainability.
This newly-designed and proposed project is about 4 kilometres outside the town centre of Vangvieng, over 3.5km from the Laos-China Railway, and about 7km from the Vientiane-Vangvieng expressway.
With a unique design and development vision, the company intends to combine the two sectors of tourism and industry and ensure it is different from existing tourism sites in Laos.
The tourism industry and golf course project comprises a promotion zone for handicrafts, where the culture of handicraft production from each region will be brought together to supply tourism sites across Laos with duty preference and financial assistance.
According to the development plans, the main activities and services will include a golf course, a horse race course, sports and recreation complex, entertainment complex, training centre, trade centre, duty-free shop, hotels, five-star resorts, educational institute, and hospital.
PTL Holding Company Limited is one of the leading business investment companies in the Lao PDR and is the parent company of business groups operating in various sectors such as energy, logistics, trade, and innovation.

Mrs Manivone Sitthixay.  

By Advertorial Desk
 (Latest Update July 28, 2022)

   

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