Vientiane eyes future investment of 30 trillion kip by 2030
Vientiane eyes future investment of 30 trillion kip by 2030
Vientiane province is set to encourage further investment of more than 30 trillion kip by 2030, targeting economic growth of at least 8.3 percent by 2020 and 9 percent by 2025.
The province aims to reach the target by turning from agriculture to industry and services, according to a report from the planning and investment sector.
Provincial Gross Domestic Product (PGDP) should average around US$4,239 per capita and the population should reach over 600,000 people.
Deputy Governor of Vientiane province Ms Singkham Khongsavanh said a large amount of money will be from different investment projects, additional grants, villages' funds and banking institutes.
“The plan is enclosed in the vision for 2030, which is outlined by relevant officials of line districts across the province,” she said.
Ms Singkham also announced that the value of investment in the province reached more than 7.9 trillion kip over the past five years, which was equivalent to 94.6 percent of the five year plan.
A total of 661 government funded projects worth 412 billion kip and more than 858 billion kip came from grants and loan projects.
Investment projects by domestic and foreign companies were valued at 4,061 trillion kip, while a total of 2,57 trillion kip came from investments made by banks and local residents.
More than 400 villages in the province have road access and around 96.42 percent of families have permanent access to electricity.
The number of families with adequate sanitation has reached 66 percent and clean water accessibility is estimated at 83 percent.
Meanwhile the rest of the 18 villages and more than 1,800 families remain in poverty. Currently, Vientiane province has a population of 435,000 people and income of US$1,274 per capita.
vientiane times
