Luang Prabang to develop new city with US$ 2 billion investment

Luang Prabang to develop new city with US$ 2 billion investment

(KPL) Luang Prabang has approved the New Century Group and the KPL Development Co. Ltd. (Korea Development in Laos) of a survey for the development of a modern city in Chompheth district.
Chompheth district is across the Mekong River opposite the old royal capital of Luang Prabang, which has been declared a world heritage town by the UNESCO. Luang Prabang is the jewel of tourism in the region.
The city is expected to be built on 3,000 ha in this northern province with an approximate US$ 2 billion investment.
The city will be equipped with basic infrastructure as electricity, water supply, roads and bridges, post and telecommunication system, and economic establishments, agriculture and animal husbandry, processing industries, a cultural centre, 5-star hotels, accommodation, resorts, 36-hole golf courses, cultural and eco-tourist sites, educational and cultural centres, and health facilities, business, financial and investment centres, stock-exchange market, real estate development projects, banking facilities, and public and green parks, recreation sites. The project also includes the construction of a road running from Chomepheth district to Hongsa district in Sayaboury province.
An MoU on the survey was signed on 20 October at the Planning and Investment Service of Luang Prabang province by the New Century Group and the KPL Development Co. Ltd. (Korea Development Co. in Laos).
Luang Prabang Governor Mr Bounheuang Duangphachanh and authorities concerned witnessed the signing.