Xayaboury hydropower project contributes to revenue collection

Xayaboury hydropower project contributes to revenue collection

Increasing imports of fuel and construction materials for the mega hydropower plant being built on the Mekong river in Xayaboury province has contributed significantly to revenue collection at the Nam Heuang International Border Checkpoint.

The checkpoint is located between Kenthao district, Xayaboury province of Laos and Thali district, Loei province of Thailand.

In this fiscal year the collection of import duties, customs fees and charges has reached over 65 billion kip over the past nine months or 101.76 percent of the yearly plan, according to the director of the checkpoint Mr Buapha Vilasack.

He added that import value reached over 222 billion kip (about US$27.6 million), up by 75.78 percent compared to the same period last year, largely coming from fuel and construction materials brought in for the hydropower plant project in the province. In addition, construction materials and machinery imports reached over 1.5 billion kip (US$196,526).

Mr Buapha said that 1,764 foreigners came to get or extend visas at the checkpoint, an increase of 62.58 percent.

There was 21,772 million kip in fuel imports, double the amount imported in the same period the previous year due to better and more effective inspection and management.

Export value reached over 74 billion kip (US$9.2 million), which was a reduction of 40.66 percent compared to the same period last year caused by the increased use of the Phakeo-Phoudou border checkpoint in Paklai district for maize exports and more internal sales in Vientiane, he added.

Mr Buapha said they would continue to actively collect revenue to achieve their target and provide easy service to domestic and foreign investors in the province because it will help drive economic development.

He expected that revenue collection would reach over 80 billion kip this fiscal year.

vientiane times