Deputy Minister, Vice Chairman and Standing Member of the Investment Promotion and Management Committee, Mr Bountheung Douangsavanh (right), shakes hands with the Chairman of Oriental Pearl Co., Ltd., Mr Jeong Taejin, after signing a concession agreement.

South Korean company to build exciting new tourism complex to boost Vientiane province’s economy

The Oriental Pearl Company Limited, a privately-owned company based in the Republic of Korea, has been granted a concesssion by the government to build smart tourism complex site in Vientiane province.
The development will be sited at the Km62 area in Phonhong district and is expected to be a huge attraction, both for Lao and foreign tourists.
The concession agreement was signed in Vientiane on Tuesday by Deputy Minister, Vice Chairman and Standing Member of the Investment Promotion and Management Committee, Mr Bountheung Douangsavanh, and the Chairman of Oriental Pearl Co., Ltd., Mr Jeong Taejin.
The planned development includes a golf course; a leisure area comprising a water park, garden and walking trail; a hotel, restaurant and convenience store; a solar power system and energy storage station; a dairy farm; a forest restoration and nature conservation area; roads, a canal, landscaped area, parking lot, wastewater treatment plant and waste disposal site, the company’s Vice President, Ms Lathdavone Phounsavath, said.
The developer plans to build a modern tourist attraction that is environmentally friendly and well supplied with amenities, while also preserving Lao traditions, she added.
Ms Lathdavone said the Oriental Pearl Company Limited first submitted a proposal to the Ministry of Public Security in 2015, stating its intention to build a landmark tourist attraction in the Km62 area.
The company and the ministry signed a Memorandum of Understanding on the scheme in February 2016, authorising the two sides to carry out a project survey and design.
In October 2022, the ministry and the company finalised a project agreement, allowing the developer to go ahead with construction of the Lao Resort Complex, Ms Lathdavone said.
The total project area will be 1,200 hectares, with an investment cost of US$2.9 billion. The first phase of development will take place on at least 500 hectares and cost US$700 million.
In terms of socio-economic benefits, the development will create jobs and income for people in the local area through employment and the sale of goods and services, she added.
It is envisaged that the venture will be a huge boost to the province’s economy and local community, through increased tourism, various forms of assistance by the company, and the obligations that the developer must fulfil.
The local area will be enriched and the province will enjoy robust economic growth, environmental protection will be assured, and a strong effort will be made to preserve the cultural traditions of people of all ethnic groups, Ms Lathdavone said.
Due to the wide range of services and activities on offer, more tourists will be drawn to Laos to experience this thrilling new development, she added.
Ms Lathdavone said the first phase will see the construction of infrastructure and facilities that can generate revenue quickly, such as a stadium, hotels and restaurants, and a recreation and tourism area, with essential services to be provided as soon as possible.
The second phase will involve the expansion of public utilities and tourist areas, and other facilities to make the site a complete tourism and recreation destination.
Oriental Pearl will mainly target Koreans as potential customers, especially sports enthusiasts, leveraging its strong network with Korean business operators and tourism service providers.
Next spring, taking advantage of the popularity of sports and fitness among Koreans, a marketing campaign will attempt to entice a large number of Koreans to use the services available.
Ms Lathdavone said it was largely thanks to the belief and support of the Lao government that the concesssion agreement had finally been signed and the company’s dream would now become reality.
 “We greatly appreciate this support and promise to work closely with central and local authorities. We look forward to continued cooperation from all levels of government to ensure the project is delivered successfully, appropriately, and efficiently,” she added.

By Times Reporters
(Latest Update September 19, 2025)