Luang Namtha provincial authorities have authorized the Luang Paserth Trading and Tourism Company to invest US$15.5 million for the planning and development of a cultural park in the province located in Northern Laos.
A Memorandum of Understanding about the provincial approval of the project was signed last week between the Deputy Governor of Luang Namtha, Mr Phengphavanh Daophonchalern, and the President of the Luang Paserth Trading and Tourism Company in the presence of relevant officials in Luang Namtha Province.
Under the MoU, Luangpaserth Trading and Tourism Company has been granted a 50-year land concessional right to 30 ha of land to implement the project.
This company will solely invest in the development of the Luang Namtha Cultural Park as a new tourist site of the province. The development of the project will be divided into three phases.
“The project is to contribute to the socio-economic development and promote sustainable environment protection and help turn the province into a green city. This place will become a new tourist site to attract both domestic and foreign visitors,” said to Laos national news agency KPL the head of the Luang Namtha Provincial Planning and Investment Department, Mr Khamsone.
This project will help promote the conservation of cultural diversity, history, environment, and infrastructure development along Nam Tha riverbank.