Saravan requires more funds for development

Saravan requires more funds for development

Saravan province requires more than 1 trillion kip for socio economic development in the coming fiscal year, or 22.87 percent of Provincial Gross Domestic Product (PGDP), to ensure that growth continues and people can escape from poverty.

Saravan’s economy is currently growing at 11.8 percent per year and the average income per capita is now 8.6 million kip (US$1,076).

The province has considerable potential in agriculture, including crops such as rice, coffee, bananas, legumes, peas, cassava and corn, the cultivation of which has helped local farmers to generate more income.

Basic infrastructure has also been improved step by step, especially linking roads between the provinces and outlying districts and villages, which has facilitated better crop yields and easier transport to markets.

Provincial Governor Mr Khamboun Duangpanya noted at a recent Round Table consultation in the province that road improvements had helped increase trading among merchants and incomes amongst local people.

People in remote areas have access to health services, education, information and communication, he added.
Mr Khamboun said authorities had focused on the development of main roads such as Road 15A from Saravan to Vietnam and the road from Saravan to Napong district.

The construction of concrete roads has also been completed and the La Lai border checkpoint in Samouy district has been upgraded to an international checkpoint.

Besides that, the province has expanded the electricity network into poor districts and rural areas, he added.
Although socio economic development in the province has progressed well, the province requires a budget of 1,083.55 billion kip to invest in development, or 22.87 percent of PGDP, according to provincial Planning and Investment Department Director Mr Xayadeth Vongsaravan.

This includes 49.3 billion kip from the government budget or 4.55 percent, 98.4 billion kip in loans and capital grants or 9.1 percent, 835.85 billion kip in bank credit or 77.1 percent, as well as domestic and foreign capital accounting for 9.2 percent.

The department called on all sectors to consider socio-economic development as their primary responsibility and obligation, increase management and minimise the budget deficit, inspect government projects, secure capital grants and attract domestic and foreign investment.

Furthermore, the single window service should be conducted effectively to ensure speed, security and transparency in the investment approval process, Mr Xayadeth said.

vientiane times