Investment in Vientiane province increase
Investment in Vientiane province increase
Vientiane province has approved 30 projects in the period of October, 2013 to July, 2014 after 37 projects were issued investment proposals.
According to the provincial Planning and Investment Department, seven projects were still undergoing consideration as the details of their proposals were unclear.
This period also saw the approval of eight foreign investment projects, especially the processing of agricultural products, as well as planting commercial crops and livestock breeding for sale.
The department's Investment Promotion Section Head Ms Khammouay Xayasouk told local reporters that the main projects were in the energy and mines sector, followed by industry and commerce, agriculture, and the service and tourism sector.
Compared to the annual plan, the province reached 126 percent and 123 percent of the domestic private companies' investment plans.
Ms Khammouay said the final three months of this year would see foreign private companies invest in around seven projects.
The cost of investment in the 30 approved projects was in denominations of around 158 billion kip and US$15 million; 22 of these projects are under the investment of domestic private companies, Ms Khammouay said.
The energy and mines sector includes 13 projects suc h as: the barite excavation projects at Houay Deua village, Meuangfeuang district and Pha Chau village, Kasy district; the limestone excavation project in Meun district; bat dung excavation project in Ang village, Meuangfeuang district; and stone and sand excavation projects in Na Thau and Nam Nhone villages, Maed distric t.
The agriculture sector comprise four projects such as: the palm planting and processing project in Vieng Kham village, Keo-oudom district; and the sweet corn and cassava planting promotion projects in Tanpiew village, Thoulakhom district.
The industry and commerce sector will undergo projects such as: an iron melting manufacture project in Vangkhee village, Hinheup district; white charcoal processing project in Saka village, Phonhong district; and a fertiliser processing project at Tham Tay village, Kasy district.
The tourism sector will see a market allocation project at Meuangfeuang market, as well as a complex hotel service project at Savang village, Vangvieng district.
From October, 2011 to March, 2013, the province approved a total of 125 projects, which included projects from domestic and foreign companies at a cost of 2,032 billion kip and US$179 million.
Some projects are still operating, while some have yet to begin or are awaiting approval from the provincial authorities.
vientiane times
