A Chinese company based in Hong Kong has recently begun a 9 billion USD project in Southern Laos. In Champasack Province, the project is known as Siphandone Island Special Economic Zone (Siphandon) (Champa-sak, Southern Laos). This is a joint venture project between the Chinese company Maha Nathi Sithandone Hongkong Company and the Laotian company LTV Road and Bridge Construction Company.

The project is spread across a total of 9,846 hectares in Muangkhong district, Champasack province. The investor commits a total of $9 billion USD in capital to be deployed in six phases from 2018 to 2050.

Laos intends to build this place into one of the leading tourist attractions in Southeast Asia, using the "5 in 1 city" model, which includes three zones (holiday tourism, maintenance, finance, international commercial transactions), smart technology zones, and residential areas.

The project expects to attract 1.3 million visitors by 2025, generating approximately 205 million USD per year; by 2050, it expects to attract 10 million tourists, generating approximately 240 million USD per year.

During the project's operation, it is expected to generate an average of US$107 million in taxes for the government and create an estimated 100,000 jobs for local residents.

Mr. Latri Sisouphannavong, Vice President of Siphandone Development Cooperation Company (China), stated that the above special economic zone project has been in operation since 2018 and that the first phase of the project will last through 2025; including the renovation of some resort villas in the Khonphapheng waterfall area; the construction of a sales service center, hotel, and spa; and the continued implementation of internal roads, an airport, a 100-bed hospital, and a golf course... with an initial investment of 600 million USD, or 5.5 trillion Lao Kip.

Siphandone is located around 900 kilometers south of the capital, Vientiane, and 180 kilometers south of Pakse, the seat of Champasak province, which borders Cambodia's Stung Treng province. Siphandone, which means "4,000 islands" in Lao, is known as the "paradise" of Lao tourism.

The Siphandone area has been proposed as a special economic zone since 1995, but a contract between a Chinese enterprise and the Lao government was not signed until 2018. The Mekong River basin, which flows through Champasak province in southern Laos, includes Siphandone.

For a long time, this area has been known for two massive waterfalls, Khone Phapheng and Somphamit, which have a combined length of tens of kilometers. Thousands of large and tiny islands are created by each waterfall, creating a beautiful natural region. There are also hundreds of lovely sand dunes that appear and fade depending on the Mekong River's flow.

Three islands, Don Khong, Don Khon, and Don Det, are currently eligible for tourists to remain, out of a total of 4,000 large and small islands.

The creation of a special economic zone in a landlocked continental country like Laos to attract tourists and create jobs for locals has marked a turning point in the country's economic development.