Private investors to modernise existing Pakxong district market
Private investors to modernise existing Pakxong district market
A local investment group in Champassak province will spend a total of US$12 million (more than 97 billion kip) to develop an existing market in the province's Pakxong district into ‘Sabaidee Pakxong Daen Ngam market.'
Governor of Pakxong district Mr Khamsy Piengvolavong told Vientiane Times yesterday that Tangchaleun Group Co., Ltd signed a land concessional agreement with local authorities last week and it will take at least two months to carry out an economic study before they commence official work on construction of the market.
“Actually, we already have an existing market but the company is interested in developing it with more facilities to become an attractive market in the district,” he said.
According to the company's plan, they will develop the existing market into townhouses and underneath will be a market where vendors are selling a variety of products, Mr Khamsy said.
The company agreed with local authorities for a 70 years concessional period on a total of 4 hectares and construction of this newly-signed project will be completed within two years.
Mr Khamsy said that the government will not only earn income from a land concession but it will also earn income from tax collection as well as from domestic and foreign tourists who are visiting the district.
“Developing tourist sites is one of the strategic plans of the local authorities of Pakxong district because visitors are increasing every year,” he said.
Currently the number of visitors is recorded at more than 300,000 people and it is expected to increase at 10 percent. There is also a plan to promote private investment projects by building more guesthouses and three star hotels to ensure the district also able to accommodate an increase of visitors.
According to Mr Khamsy, presently hotels and guesthouses have a total of more than 300 rooms across the district and one of the three star hotels is now under construction and will be completed in the near future.
President of Tangchaleun Group Co., Ltd Mr Tanghua Seng-aloun signed a land concession agreement with Pakxong district Governor Mr Khamsy Piengvolavong as other district officials witnessed the ceremony.
Pakxong district has potential agricult ural, tourism and trade because it is one of Laos' finest districts for domestic and foreign visitors to spend their holidays and enjoy the taste of locally grown coffee, waterfalls and the milder weather.
