A Lao company, Khamphay Sana Constructions, has been licenced to build a shopping mall in the capital city of Vientiane to provide a comprehensive round-the-clock service, complete with stores and a food court, a public park, and a 200-car parking lot.
The new shopping center is to be built on a 17,170 square-meter lot, streching 750 meter-long from Khua Luang intersection to Saylom circle.
Khamphay Sana Constructions, who is granted a 40-year concession, will spend an initial investment of 25 billion kips to clear the land and build the parking lot.
The whole project is to be completed in two years to accommodate the large number of tourists that is expected to visit the capital for the 25th SEA Games which Laos will host in December 2009. It is also part of the Vientiane administration's efforts to spruce up the city for the celebrations of its 450th anniversary in 2010,
In another development, Sevanh-Seno Economic Zone officials say that so for more than 200 foreign companies have expressed interested in investing in zone, with three companies - all from China - having officially registered and announced their investment plans with an aggregate capital of over seven million dollars.
Listen to our report for more details in Lao.