In December 2006, after China Development Bank and Ministry of Planning and Investment of the Lao PDR signed Framework Agreement on Construction of Vientiane Sport Venue of the 25th Southeast Asian Games and Relevant Comprehensive Development under the authorization of Vientiane Municipal Government, Yunnan Construction and Investment Holding Group Co., Ltd. undertook the project development. As the cooperation between China and Laos expanded, China Development Bank arranged Yunnan Construction and Investment Holding Group Co., Ltd. to initiate new comprehensive development through obtaining new project land with its revenue from the earlier completed projects. 


      On June 16, 2010, in the presence of Xi Jinping, the then Chinese vice president and the present Chinese president, and Boungnang Vorachith, the vice president of Laos, China Development Bank, Yunnan Provincial Overseas Investment Co., Ltd., and Vientiane municipal government signed the Memorandum of Understanding on Vientiane Comprehensive Development Project. According to this document, it was confirmed that the land near Laos National Stadium was allocated for development projects and Yunnan Provincial Overseas Investment Co., Ltd. and Vientiane municipal government should jointly set up “Lao-China Joint Venture Investment Co., Ltd. for the construction of a development zone” 

      In October 2010, Yunnan Provincial Overseas Investment Co., Ltd. and Vientiane municipal government signed a document, namely Capital Contribution Agreement between parties of Lao-China Joint Venture Investment Co., Ltd. 


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