Theme park not to be called ‘Disney Laos': project developers
LAO AND foreign investors plan to invest billions of dollars to build an Asian style ‘Theme Park' in Laos within the next seven to ten years, according to the project developers.
The park is one of the projects planned in the three phases of Thakhaek Dream World City at the Thakhaek Specific Economic Zone in Khammuan province.
Initially, the project developers named the park ‘Disney Laos' but decided to drop the title and replace it with the name ‘Theme Park' in keeping with its character as a local style fun park and end any public confusion.
The park will be part of Phase III of the Thakhaek Dream World City project that will cost investors a projected US$12 billion with registered capital of US$1.5 billion, operating under the Akane Development Lao Co., Ltd.
Akane Farm Sole Co., Ltd. Chairman Somjith Aliyaphaphone told reporters on Monday that his company and its foreign joint-venture partners have decided on the title ‘Theme Park' instead of ‘Disney Laos' as was recently published in newspapers and social media.
“We decided to pick a new name for the park, to avoid any further misunderstanding by members of the public but construction plans for the park remain unchanged,” Somjith said.
He explained that the concept of the park was designed around the theme of Laos' beautiful scenery and its variety of ethnic groups.
“Our plan for the park is to highlight the many ethnic groups in Laos and will feature shows from other countries in the region,” Somjith said.
Investors come from four different companies; one is from Laos and the other three are from Malaysia.
The first phase of the project will construct the Thakhaek Ehsan International Financial Centre and other buildings. Land is now being levelled prior to the start of construction, on a concession area of seven hectares.
Four buildings have already been approved by the government including serviced apartments, a hotel, finance centre, and shopping mall.
In addition, the developer plans to expand the land concession to 1,500 hectares to carry out its planned 28 construction projects with total investment for the three phases estimated at US$12 billion.
