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(KPL) A private company Forest Area Conservation Ecological Tourism (FACET) has decided to develop the Nam Kad Waterfall in Say district, Oudomsay province, as a tourist complex after learning of its high natural potential for tourist development.
The investment in the tourism development project is estimated at USD 3.5 million.
The company signed a concession agreement on the tourism development project with the Planning and Investment Service of Oudomsay province on Jan 29.
The signatories to the document were Head of the Provincial Planning and Investment Service of Oudomsay, Mr. Houmpheng Southivong, and FACET President, Mr. Somphet Maopaseuth.
Oudomsay Vice-Governor Khampheng Chittavong and relevant officials of both sides witnessed the signing.
Under the 45-year concession, the company will develop and operate the Nam Kad Waterfall Tourist Complex, which covers an area of 6,115 ha.
The development is a direct investment by the company.
The complex is designed to have accommodations, resort, parking lots, restaurants, public facilities and ethnic villages to represent way of life of the local ethnic people.
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