Property project realizes Vietnam-Laos investment commitments

This marks a concrete step in implementing investment commitments while highlighting the active role of businesses in deepening and enhancing Vietnam-Laos economic cooperation.

The project is part of the Long Thanh-Vientiane Special Economic Zone, also known as Long Vieng, a flagship development spanning 557.28 hectares with a total investment of US$1 billion in Vientiane.

It is the first project licensed by the Lao government for a Vietnamese company with a land lease of up to 99 years, along with preferential policies including foreign home ownership rights, long-term residency visas and tax incentives covering income tax and value-added tax.

The special economic zone has already put into operation a 36-hole international-standard golf course and a model urban area featuring high-end riverside villas.

Major social infrastructure projects, including a five-star hotel, an international hospital, multi-level schools and an international commercial centre, are also under development to help transform the area into a modern economic zone and contribute to Laos’ economic growth.

Speaking at the signing ceremony, Le Huy Hoang, General Director of KN Vientiane Group, highlighted the signing as an important milestone in the project’s development strategy. He said strategic partnerships are a key factor in ensuring the success of large-scale projects, particularly in the current market environment.

According to Hoang, KN Vientiane Group selected Real Concept Real Estate as its strategic partner after a thorough process of assessment and evaluation, citing the company’s market execution capacity, professionalism and strong reputation in Laos.

Bouavieng Champaphan, Director of Real Concept Real Estate, said the company’s long-term strategy extends beyond commercial business to focus strongly on social infrastructure development, including education, healthcare, sports, hospitality, services, entertainment, high-tech zones and high-end real estate.

He also said the longstanding friendship and historical ties between Laos and Vietnam would provide a strong foundation for bilateral economic cooperation in the years ahead.

The cooperation in developing the real estate project in the Long Thanh-Vientiane Special Economic Zone reflects the spirit of friendship, partnership and shared commitment to prosperity between businesses of both countries.

Economists view the partnership between a major Vietnamese investor in Laos and a reputable 100% locally owned Lao real estate company as a positive step that could boost Vientiane’s high-end property segment while further deepening economic ties and the special relationship between Vietnam and Laos.

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