According to VNA correspondents in Laos, on June 28 in Vientiane, KN Vientiane Group Co., Ltd and Real Concept Real Estate Sole., Ltd officially signed a strategic partnership to develop a real estate project in the Long Thanh – Vientiane Special Economic Zone.

This is a concrete step to realize investment commitments while showing the initiative of enterprises from both countries in tightening and improving the efficiency of bilateral economic cooperation between Vietnam and Laos.

Attending and witnessing the signing ceremony, on the Lao side, there were Comrade Phankham Viphavan, former Politburo member and former Prime Minister; Comrade Somsavat Lengsavat, former Politburo member and former Deputy Prime Minister; and Comrade Linkham Douangsavan, Minister of Agriculture and Environment. On the Vietnamese side were Comrade Nguyen Minh Tam, Ambassador of Vietnam to Laos, together with numerous representatives from ministries, strategic partners and the business communities of the two countries.

The real estate project signed this time belongs to the Long Thanh – Vientiane Special Economic Zone (Long Vieng Special Zone), a model project covering 557.28 hectares with total investment capital of USD 1 billion in the capital Vientiane. This is the first project the Lao Government has licensed to a Vietnamese enterprise with a land lease term of up to 99 years, accompanied by many outstanding preferential mechanisms such as home ownership rights for foreigners, long-term residence visas, and deep incentives on income tax and value-added tax.

To date, the special zone has effectively brought into operation an international-standard 36-hole golf course and a model urban sub-area with premium riverside villas. According to the roadmap, major social infrastructure items including a 5-star hotel, an international hospital, an inter-level school system, and an international trade center continue to be deployed to turn this place into a modern, advanced special economic zone, contributing to attracting resources and boosting economic growth for Laos.

Speaking at the ceremony, Mr. Le Huy Hoang, General Director of KN Vientiane Group, said this strategic cooperation signing was a particularly important milestone in the project development strategy, and also a journey to realize the core values the enterprise is pursuing. KN Vientiane always remains steadfast with the goal of creating real estate products of real value, meeting the increasingly high demands of customers, and contributing to elevating the urban appearance and quality of life of the community.

According to KN Vientiane Group leadership, for a large-scale project to succeed in the current market context, besides a methodical investment strategy, a quality product or a long-term vision, the key and decisive factor is to find reliable partners who share the same aspirations, capacity and ambition to conquer major goals.

That is why, after a careful process of survey, evaluation and selection, the group decided to choose Real Concept Real Estate Co., Ltd as its strategic partner to accompany this project. KN Vientiane Group highly appreciates Real Concept”s market implementation capacity, professionalism in business operations, and the solid reputation it has built in the Lao domestic market over recent years.

The General Director of KN Vientiane Group committed to continue concentrating resources on serious investment, absolutely guaranteeing product quality, infrastructure deployment progress, and fully carrying out all obligations and commitments to customers and strategic partners.

Speaking at the signing ceremony, Mr. Bouavieng Champaphan, Director of Real Concept Real Estate Co., Ltd — a 100% Lao domestic capital enterprise — said Real Concept”s current and future development plans are not limited to commercial business, but strongly focus on social infrastructure, including building school systems (these projects are currently under active construction).

In addition, the company has also drawn up specific plans for international hospital projects, sports complexes, resort, service and entertainment areas, high-tech zones and premium real estate with full amenities and synchronous services to meet the increasingly high living standards in Laos.

In particular, Real Concept”s leadership affirmed that the spiritual values and historical traditions linking the two Lao-Vietnamese peoples will be a solid foundation for economic cooperation between the two countries in the new era. Mr. Bouavieng Champaphan shared that if in the past the peoples of Laos and Vietnam always stood shoulder to shoulder, fighting together against common enemies to gain national independence, then today the peoples and business communities of Laos and Vietnam will continue to join hands to build and contribute practically to the increasingly strong socio-economic development of both countries.

The real estate cooperation development project at the Long Thanh – Vientiane Special Economic Zone reflects the friendship, cooperation and joint commitment to prosperous development between enterprises of Vietnam and Laos. The cooperation between a major Vietnamese investment enterprise in Laos and a reputable 100% Lao domestic real estate enterprise is assessed by economic experts as a positive step, creating momentum for the high-end real estate segment in Vientiane and helping to deepen the foreign economic relations, as well as the special relationship between the two countries of Vietnam and Laos.

Xuan Tu – Van Phien (VNA)