New shopping centre to boost domestic trade
New shopping centre to boost domestic trade
A Thai businessman is set to invest around 300 million baht (about 74.7 billion kip) to build a luxurious shopping centre in Vientiane, aiming to provide local customers with a convenient shopping experience in Laos.
The project is located at Km 8 on Road No. 13 South in Phakhao village, Xaythany district of Vientiane. It is slated for completion by early next year.
“We will be creating wider parking spaces for customers and visitors in this strategic market,” the owner of the ViewMall shopping centre, Dr Narong Tananuwat, told the Lao Economic Daily newspaper recently.
Dr Narong, who is also the owner of the Khong View restaurant in Vientiane, emphasised that Vientiane is home to more than 800,000 people and more than 100,000 of those are equipped with purchasing power.
“These people are looking for a place to shop, with most of them crossing the Mekong River to buy goods in Udon Thani and Nong Khai provinces of Thailand,” he said.
Currently investment in shopping centres is dominated by local business interests as well as foreign investors from China and Vietnam.
The ViewMall shopping centre is designed as a two-storey building on a total area of 20,000 square metres. The mall will include a supermarket, restaurants, beauty salons, as well as health and education sections.
There will also be an IT corner, accessories, apparel, drinks and other goods. The parking lots will be able to accommodate 300 vehicles and 250 motorcycles.
Dr Narong also said about 60 percent of traders had booked booths in the shopping mall, while the construction of the centre's infrastructure is now 100 percent complete. The architectural works of the structure is now 70 percent complete.
“Iinterior decoration will begin in November, which may take three months before official formal services can be launched,” he said.
The government is also emphasising a clear policy on investment promotion for both domestic and foreign investors, aiming to boost socio-economic development in Laos.
The Domestic Trade Department under the Ministry of Industry and Commerce is also in charge of controlling the movement of trade activities amid the rise of shopping centres in Vientiane.
The department's Director General Mr Leuam Yongvongsitthi said, “Laos is in the process of integrating into the Asean Economic Community, so it seems to be positive when more investors participate in the construction of shopping centres, as can be seen at various sites.”
Many shopping mall developments are underway in various areas of Vientiane, especially at the Nong Chan marsh, That Luang market, Lao-ITECC and several other locations.
vientiane times
