2013 is forecast to be a positive year for the economy in Laos Today reports that a property developer based in Shanghai, China has recently initiated the construction of a US$1.6 billion project in Vientiane, the capital city of Laos. This move gives a considerable boost to Chinese presence in the Laos economy.
Last December, the Lao government achieved an agreement with Shanghai Wanfeng Group, a major developer of Chinese shopping malls, to develop 365 hectares around That Luang Lake in Vientiane.
The project will comprise a commercial, residential and tourist complex. According to the Xinhua news agency and Wanfeng’s website, construction of this project began at the beginning of this week
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Thailand Property – China increases its presence in Laos
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The global recession and COVID-19 pandemic heavily affected CLMV economies in 2020, resulting in major slowdown in Vietnam and Myanmar whereas Laos and Cambodia faced economic contractions from additionally specific negative factors.(more…)
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