Laos: Chinese Firms Will Not Develop That Luang Marshland
By Dara Baccam
12/08/2008
That Luang marshland development plan
Lao authorities say they will not be able to allocate lands in the
That Luang marshland to Chinese companies to develop into a new urban
and commercial center, because only 20% of the promised 1,000 hectares
have been acquired so far. Local residents and land owners refuse to
relocate because the government is not able to provide them enough
compensation.
The government had promised the lands to Chinese
New stadium being built
companies in exchange for the new stadium and sports facilities they
are building at KM 18 on Route 13 South, which will be used for the
25th SEA Games that Laos will be hosting at the end of 2009.
So the government is still obligated to look for new lands for the
Chinese. Officials have reportedly been looking at areas adjacent to
the new sports facilities in Saythani district and areas next to the
Tha Nalaeng train station in Dongphosy village, Hadsayfong district.
The Chinese companies expect to spend about 58 million dollars on the
sports facilities they're building for Laos, and plan to invest more
than $88 millions to develop the lands they will receive in return for
building the sports complex. The development is expected to be
completed by the end of 2010, in time for the commemoration of the
450th anniversary of the founding of the capital city of Vientiane.
Listen to Songrit's report for more details in Lao.
here in the US, the people's power are being flexed in the form of not
bending over and let the bush administration screw us from the behind
by writing them a blank check for this 700B bailout.
Casala...I'm very proud of you after 32 years you finally understand
the
capitalist system, refresh your memory: the Ak-47s were always
in the hand of Lao citizen (Konglone) from begining....
Hi Ai Casalao,
I think it is just political posturings from the GOP and some
democrats representatives to secure their job in November 2nd. As you
can see, the more things change, the more they are going to be the
same or worst for us tax payers.
At the end, Paulson is going get what he wants. If he doesn't get what
he wants, his friends are going to put more pressure on Congress to
get it.
Do you see today's stock market? His friends are not happy with the
way the bail out turns out to be, they keep on selling to make the
threat appearing more imminent by pushing the market down.
Yes, we, tax payers and shareholders of pension funds are being taken
hostage by these few rich guys.
Looking into the future, as more banks are failing, more power are
concentrated with the few who can survive. Earlier this month, we had
4 major investment banks: Goldman Sachs, Lehman Bros, Merry Lynch and
JP Morgan. Now, none is left. Goldman and JP Morgan are no longer an
investment and they are now converted to commercial banks. We all
know the fate of Lehman and Merry Lynch. Gone!
Who are left to fill the vacuum?
Unregulated private equity firms like Blackstone are now a bigger
player in the investment market. They are currently the investment
bankers by default after those big four are gone. And they can
leverage and even derail the implementation of the Bail Out if things
don't come their way which means that there could be more bail out
request down the road.
Let's hope not.
OP
Torn between two lovers - Vietnam and China.
HL