VIENTIANE — The Lao-based Supchaleun Group and Việt Nam’s Viet Nga Group signed a memorandum of agreement (MOA) in Vientiane on October 23 to develop two major projects in Laos, with combined investment of nearly US$30 million.

The projects, to be implemented right in 2026, are the Supchaleun Central Tower complex and a smart farm, aiming to promote cooperation in urban development and high-tech agriculture between the two countries.

The signing ceremony was attended by Vietnamese Ambassador to Laos Nguyễn Minh Tâm, representatives of Lao authorities, Vietnamese agencies in Laos, business associations and enterprises from both countries.

Supchaleun Group Chairman Anousack Keochaleun expressed confidence in the Viet Nga Group’s capacity and professionalism, saying its selection as the general contractor reflects the close strategic ties between the business communities of Việt Nam and Laos. He expected the projects to contribute to Laos’ urban infrastructure and high-tech agricultural development.

Viet Nga Group Chairman Nguyễn Quốc Việt said his company will oversee the projects from planning and design to construction and completion. He pledged to comply with Lao laws and regulations and mobilise skilled personnel and modern construction technologies to ensure high quality and timely delivery.

The Supchaleun Central Tower project will cover 4,600 sq.m in Vientiane and comprise of two connected 15-storey buildings. The complex will combine apartments and commercial facilities, including shophouses, offices, restaurants, outdoor cafes, electric vehicle charging stations, and yoga, gym and sauna services.

With investment of more than $21.2 million, the project is expected to take 2.5 years to complete. It is projected to generate about $25 million in revenue within five years of operation.

Meanwhile, the first phase of the Smart Farm project will receive more than $8 million in investment and cover 94 hectares. It will combine high-tech farming, ecotourism and a circular economy model, with workshops, 3,000 ponds for shrimp and fish farming, and 40 hectares of fruit trees. The farm will use advanced water filtration systems and solar power.

A catfish farming system is expected to supply one to two tonnes of market-ready fish to Vientiane each day. The project also plans to develop a 40-hectare coconut-growing area linked to a processing plant. Fishery by-products and organic sludge will be reused to produce biofertiliser, helping reduce waste, cut costs and increase agricultural value.

The project is expected to generate an average annual net profit of nearly $930,000.

The two projects are expected to create new business opportunities in property development and smart agriculture while strengthening economic links and traditional friendship between Việt Nam and Laos. — VNA/VNS.