Asean Trade Centre all set for August opening
Asean Trade Centre all set for August opening
The Asean Trade Centre, located in Nahae village, Sikhottabong district, Vientiane (the Sikhay area) is looking set for an August opening after construction commenced at the start of last year.
The building comprises six storeys and more than 600 rooms, the centre's Deputy Director, Ms Phansy Mondokkham told Vientiane Times yesterday.
The project is being backed by investors from Chinese Taipei, who have been granted a 50- 70 year concession in line with the government's investment policy.
Compared to other projects in Vientiane, this project has seen the construction phase run smoothly and work has progressed rapidly.
Some projects have been suspended due to financial issues and different projects have been delayed needing design improvement.
Sikhay campus is one of the development areas in Vientiane which is attracting interest from both domestic and foreign investors.
Sikhay market is categorised as a shopping centre hub in Vientiane and Lao authorities believe that this Asean Trade Centre will be one of the largest market developments in Vientiane.
After opening, it shall offer many kinds of international and local products such as silks, handicrafts, souvenirs, traditional and modern clothes, shoes, food, jewelry, silver, gold, books, and more.
Investment in markets and shopping malls in Vientiane is expanding due to high consumer demand and the country's development as it seeks to integrate with the region and the world.
Currently, many Lao people like to cross the river to go shopping in Thailand so the development of markets and shopping malls in Vientiane will help to reduce the number of Lao people making the journey across the border just to go shopping.
In recent months, Vientiane Centre and That Luang Square officially launched for shoppers and ITECC Shopping Mall is preparing to open in the next few months, which is expected to attract large numbers of shoppers.
The Asean Economic Community (AEC) is set to take off at the end of this year. Companies around Asia are paying increasing attention to invest in trading ventures such as shopping malls and supermarkets.
However, for business, the most important part of the AEC has been the commitment to create a free market for goods, services, investment, skilled labour and the free movement of capital.
