Real estate investment company D&C Mineun has signed a business partnership with Shanghai-based Wanfeng Property to participate in the company’s development project in the Lake Thatluang Special Economic Zone in Laos, supported by the Laotian government, said on Wednesday. officials.
The presidents of the two companies held the signing ceremony with Sinlavong Khoutphaythoune, president of the Lao Front for National Construction, who is also a member of the political bureau of the Central Committee of the Lao People’s Revolutionary Party and Kham Chan Vongsenboun, deputy minister of planning. and investment. to assist.
Jung Won-ju, vice chairman of South Korean group Jungheung, also attended the ceremony as an observer, officials said.
Since 2012, Wanfeng Property has invested a total of 463 billion won ($ 391 million) to build social infrastructure such as roads on the public site surrounding Thatluang Lake in order to transform the area into the main economic and commercial center of the country, filled with hotels, apartments and shops. buildings.
As part of the partnership, D&C Mineun, which operates property development and investment services, will be responsible for attracting investment and selling the apartments built on the development site to Korean investors.
“Laos’ economic growth has stalled due to the lack of transport and logistics infrastructure, but the country will be fully developed when a railroad opens to connect China and Laos,” said Yang Young- hwan, president of D&C Mineun. “The Thatluang Lake Special Economic Zone, in particular, will directly benefit from the opening of the inter-country railway (December 2).
“The Lake Thatluang SEZ is an area provided with administrative services by the Laotian government,” said Jian Fu, president of Wanfeng Property. “We believe the region, which comes with a series of tax breaks and support, is attractive enough to attract the attention of Korean businesses.”
Jung of Jungheung Group also said the builder will consider whether to cooperate with D&C Mineun and Wanfeng Property for the project in Laos.
“I am so happy to visit the development site in Laos, which has always interested me. Jungheung Group will review cooperation measures with D&C Mineun and Wanfeng Property,” Jung said.
By Choi Jae-hee (firstname.lastname@example.org)