Some remarkable progress of the Zone

Although progress is being made developing That Luang Marsh Specific Economic Zone (SEZ) in Vientiane, the project is somewhat slower than early plans due to a financial issue, officials in charge of the project have said.

However, Vice President of the zone’s management board Mr Pheng Inthilath toldVientiane Timeson Thursday that the government and developers aimed to build this zone as a model project for SEZ development in Laos.

About US$107 million (856 billion kip) has been spent on building infrastructure facilities and condos at That Luang Marsh SEZ.

Twelve condominium blocks with 19 floors being built at the US$1.6 billion (12.8 trillion kip) That Luang Marsh SEZ are set to go on sale in March this year.

“Everyone can come to buy the condos with no regard to their nationality,” Mr Pheng said, saying that the condo project was 50 percent complete and was slated to be finished in October 2016. The price for the 4 bedroom and 4 bathroom condo blocks was about US$400,000 (3.2 billion kip).

The infrastructure development project includes a 50-hectare lagoon, road construction in the zone, installation of electricity and water supply facilities and a drainage system.

The access road to the site has been built to facilitate the movement of dump trucks and other construction vehicles. It is 400 metres long and 36 metres wide, linking the Phonthan T-junction to the project site.

The project comprises an area of 365 hectares, covering the six villages of Nonvai, Meuang Noi, Nonkhor Neua, Phonthan, Phonpapao and Donekoi in Xaysettha and Sisattanak districts.

The land compensation for the SEZ project is now 98 percent completed with more than US$10 million (about 80 billion kip) spent to compensate villagers affected by the project.

However, Chinese developer, Wan Feng Shanghai Real Estate Company intends to turn That Luang Marsh into a liveable town with an environmental friendly atmosphere with various tree species to be planted in the zone.

When finished the project will include a large residential area, public parks and green spaces, a lake, roads and drainage, a sports complex and a commercial centre. There will also be five-star hotels, shopping centres and entertainment venues.

That Luang Marsh SEZ began construction in December 2012 and the developer expects to spend between 15 to 20 years working on the project.

The government believes That Luang Marsh SEZ will contribute to further boosting the country’s economic growth and generate job opportunities for local people.

The substantial progress of the construction activities of That Luang Marsh SEZ has attracted many delegations from Laos and foreign countries to visit the project.

On Thursday, a delegation from Thailand visited the zone to learn about the project’s development as Thailand also plans to develop SEZ projects.

ByVientiane Times Reporters
(Latest UpdateJanuary 17,2015)