Xieng Khuang records 9.9 percent GDP growth
Xieng Khuang records 9.9 percent GDP growth
Xieng Khuang province reported recently that its provincial gross domestic product (PGDP) has grown by 9.9 percent in the first sixth months of this fiscal year.
The growth in PGDP came from the three major sectors of agriculture and forestry, industrial and trade and services.
The provincial Deputy Governor Mr Khampien Sinouanthong reported that the 9.9 percent included growth of the agricultural sector of about 4.8 percent, the industrial sector of 14.21 percent and the service sector 14.49 percent.
Mr Khampien said the PGDP was valued at approximately 2.53 trillion kip with annual per capita income at about 9.6 billion kip (US$1,200).
The 2.53 trilli on kip figure included investment in projects worth about 1.22 trillion kip that was about 62.85 percent of the annual plan.
This investment in projects contained 40.89 billion kip from the government, which covered around 3.35 percent of the total investment cost.
The investment of state enterprises was 203.45 billion kip and covered about 16.66 percent of the total investment in projects with investments from both local and foreign companies contributing about 171.30 billion kip, which was around 14.02 percent of the 1.22 trillion kip total.
Grants and loans from international organisations covered around 54 billion kip or 4.42 percent while loans from banks worth about 751.87 billion kip made up the biggest slice at 61.55 percent of the total investment cost in projects.
The government had investment in 111 projects, including 17 projects for the economic sector at a cost of around 2.55 billion kip, the culture and social sector featured 50 projects at around 14.67 billion kip and there were 44 infrastructure development projects that cost about 20.90 billion kip.
Mr Khampien said the 9.9 percent of PGDP growth was also a significant increase from 7.8 percent in 2010 and the annual income per capita at about 9.6 billion kip (US$1,200) was also a noteworthy increase from about 6.81 billion kip (US$852) in 2010.
The province administration authority has seen growth in the production capacity of local people, with about 135,000 to 150,000 tonnes of corn now produced each year for local consumption and export to a neighbouring country.
vientiane times
