Champassak sees investment soar
Champassak sees investment soar
Champassak province expects the value of its local and foreign investment projects launched this year to jump more than 500 billion kip on last fiscal year.
The provincial Planning and Investment Department on Monday reported it will target 120 investment projects worth 3,203 billion kip in the 2013-14 fiscal year.
Local investment is predicted to account for 46 projects worth 1,217 billion kip, while the remaining 74 projects worth 1,986 billion kip will be funded by foreign entities.
To meet target figures, provincial officials are taking measures to attract more investment, including improving regulation, administration and management and boosting advertising.
Last fiscal year the province approved 49 investment projects, worth 2,689 billion kip.
Sixteen of the projects were funded locally, at a cost of 903 billion kip, while foreign investment accounted for 23 projects and 1,786 billion kip.
Ten of the local investment projects were in the agriculture and forestry industry, totalling 197 billion kip, while the industrial sector's six projects made up 634 billion kip and the three trades and services sector projects were worth 72 billion kip.
Foreign investment in agriculture and forestry reached 284 billion kip across 10 projects; in the industrial sector it was 1,490 billion kip over eight projects. Trades and services projects accounted for five projects and 12 billion kip.
According to the department, Champassak has 348 investment projects at a value of 11,199 billion kip – 174 locally-funded, worth 4,776 billion kip, and 174 foreign investment projects worth 6,423 billion kip (US$802 million).
Local investment projects include 67 in agriculture and forestry worth 853 billion kip, 49 in industry worth 2,689 kip, and 58 in trades and services worth 1,235 billion kip.
The agriculture and forestry sector accounts for 77 foreign investment projects, worth 2,266 billion kip, while the industrial sector claims 57 projects at a value of 3,499 billion kip. The 40 foreign investment projects in the trades and services sector are worth 658 billion kip.
vientiane times
