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VN’s largest investment project groundbroken in Laos

VGP – The Long Thành Gold Trade and Investment Joint-stock Company just kick-started a golf course and real property project in Vientiane.

January 04, 2010 1:05 PM GMT+7

The Vientiane golf and real estate project is groundbroken on January 4, 2010 - Photo: Phạm Văn Kiên
The Vietnamese investor will pour US $1 billion in a 557.4-ha complex of 5-star hotel, a 18-hole golf course, high-grade villas, schools, hospital and resort.

At the groundbreaking ceremony, Lao Deputy PM Somsavat Lengsavad stated that the project is a proof of the special friendship between Việt Nam and Laos. He pledged that the Government of Laos will offer all favorable conditions for the project to be concluded on schedule.

This is the largest project done by a Vietnamese investor in Laos and also the biggest FDI project there so far.

In 2009, despite negative impacts of the global economic crisis, the two-way trade turnover between the two countries still maintained firm compared with 2008. Việt Nam continued to increase investment capital and became one of the biggest investors there, with 48 projects worth of US $1.4 billion in 2009.

By Xuân Hồng