Construction business booming

Construction business booming

Aconstruction business is booming due to the rapid growth of the country's economy and the rising inflow of foreign investment to Laos.

In addition, the government is investing large sums of its budget to construct new buildings and provide facilities to improve government administrative work.

Leuxay Construction Co., Ltd. is a company that has reached agreements with the government to execute state investment projects in both Vientiane and the provinces.

President of Leuxay Construction Co., Ltd. Ms Soutsady Leuxay told Vientiane Times last week her company had constructed many buildings for the government over the past 20 years.

With the country developing in all fields, the construction of new buildings has increased each year. Her company has undertaken 4-5 new government building projects amounting to over 50 billion kip annually.

She said in some years the total cost of construction projects amounts to more than 100 billion kip.

Successful projects include construction of a new building to house the National Institute of Fine Arts (NIFA), the Lao Women's Union, renovation of the Hor Kham (Presidential Palace) and the new Lao Academy of Social Sciences (LASS) building in Vientiane.

According to LASS officials, building work began in 2013 and was completed in 2015 at a total cost of 37 billion kip.

Leuxay Construction Co., Ltd. covered 100 percent of the upfront cost of the project and is being repaid by the government within a set time.

The project was officially handed over to the academy last week.

The new 18 x 80 m building in Sivilay village, Xaysettha district, Vientiane, has three floors and is located on a 44 x 100 sqm site.

Ms Soutsady said Leuxay Construction Co., Ltd. was established in 1995 in response to the growing needs of the construction sector in Laos.

In 1997, the company reached agreements with the government to undertake eight construction projects. The first was to build a dormitory for the Ministry of Health and then a building for the Lao People's Revolutionary Youth Union.

Since then, the company has had contracts for many construction projects with the government with the number increasing annually.

Over the past 20 years, the company been awarded more than 100 construction contracts by the government.