Oudomxay eyes increasing public investment projects
Oudomxay eyes increasing public investment projects
The Planning and Investment Department of Oudomxay province is aiming for at least 44 percent of all investment funds to come from private investors in the province during the last six months of this year.
The total value of investment projects this year should amount to 1,435 billion kip in contribution to the province's gross domestic product.
According to a report by the department, for fiscal year 2013-14 the National Assembly (NA) approved a total of 106 investment projects in the province.
Another seven were joint ventures worth more than 3.36 billion kip and a further six were newly-proposed projects valued at 20.52 billion kip.
During the first six months of this year the province was able to implement a total of 100 state-owned investment projects worth more than 140 billion kip.
Of the 106 projects approved by the NA, 56 have been successfully implemented, worth more than 123 billion kip, while 44, worth over 17 billion kip, are still in process and the final six have yet to be started, with costs expected to be over 1.32 billion kip.
For the second six months of the year the department is focused on completing the various projects not yet finished and commencement of the remainder.
The department is hoping that the value of private investment by local and foreign investors will amount to 560 billion kip, which is about 39 percent of the year's plan.
Loans over this amount will be offered by the banks to the investment projects in the last six months of this year.
The majority of investment projects in the province are directly owned by the government with a focus on supporting agriculture and ways to support moves towards commercial production.
vientiane times
