Hoang Anh Gia Lai (HAGL), a large Vietnamese company, is planning to invest in several projects in Laos in the coming years. Chairman of the Ho Chi Minh Stock Exchange listed company, Mr. Doan Nguyen Duc, said last week the company plans to invest hundreds of millions of dollars in mining, energy, industrial tree plantations and real estate projects in Laos in the next few years. The hospital is part of a US$ 30 million community development project that also includes a bridge, a settlement village with 250 houses, and an administrative centre for Phouvong district. HAGL is planting rubber trees on 31.000 hectares in Attapeu province, of which 12.000 ha have already been planted. The company will also invest in two mining projects in Laos, one for iron deposits and the other for copper. They also plan to invest US$ 100 million in a property development comprising a five-star hotel, villas, and apartments for lease in Vientiane. The Lao government has amended investment promotion laws, allowing foreigners to obtain residential land use rights for up to 99 years. HAGL is also preparing to build two hydropower plants with a combined capacity of 120 Mw, with construction set to kick off in July and be complete within two years. The combined construction cost of the two plants will be about US$ 120 milloion.
Source: Vientiane Times
