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<-Back to WTN Archives Five-star hotel to be built in Lhasa, Tibet
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World Tibet Network News

Published by the Canada Tibet Committee

Saturday, August 6, 2005



1. Five-star hotel to be built in Lhasa, Tibet


LHASA, Aug 6, 2005 (Asia Times) - A five-star Park Hyatt hotel will be built
in Lhasa, capital of the Tibet Autonomous Region, according to an agreement
signed by the city government of Lhasa and the Hong Kong CITIC investment
company.

In 2004, Carlsberg International Company invested in the Lhasa Beer Company,
becoming the first multinational company among the world's top 500 to set
foot in Tibet. Amway later opened a branch in Lhasa to become the second top
500 company to invest there.

In 2004, Tibet signed 313 investment contracts totaling 4.72 billion yuan
(US$582.3 million) in contractual terms. Of this amount, 1.566 billion yuan
has actually been put in place. The investment has gone to ventures in
agriculture, ecological improvement, tourism, development of Tibetan
medicine, minerals and real estate.

The Chinese government has pumped 78.526 billion yuan into the energy,
communications, telecom and other infrastructure areas of Tibet since 1994.

(Asia Pulse/XIC)


Articles in this Issue:
  1. Five-star hotel to be built in Lhasa, Tibet
  2. Railway to roof of the world threatens to squeeze Tibet
  3. Tens of thousands flock to Lhasa 'Yogurt' Festival



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