Private investors to modernise Pakxong market in Laos

Governor of Pakxong district Khamsy Piengvolavong told Vientiane Times Thursday 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, 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.
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 per cent.