Champassak eyes investment surge next year
Champassak eyes investment surge next year
Cha mpassak province expects that investment value in this fiscal year, 2014-15, will be much larger than it received in the previous year.
The province hopes that this year investment will reach about 1,680 billion kip, a massive increase from the 780 billion kip in 2013-14, according to the Champassak provincial Planning and Investment Department report on Friday.
The investment is projected to come from both local and foreign investors.
To achieve this goal, the provincial authority is set to work on improvements in the coordination and promotion of responsibility amongst the officials in the different sectors concerned.
The provincial Planning and Investment Department has recently outlined its strategic plan for 2014-15, in which it describes that the improvements to regulations, governance and management are fundamental to the future accomplishments.
In 2013-14, the provincial authority approved 27 investment projects worth a total of 780 billion kip.
Amongst these, 15 projects were funded by local investors, worth 578 billion kip and 12 were funded by foreign investors worth US$25 million or 203 billion kip.
Altogether a total of 356 private investment projects worth more than 11.63 billion kip and 181 domestic investment projects worth more than 5.36 billion kip have been approved.
The investment projects are from three major units, agriculture and forestry, industry and service.
For those projects owned by foreign investors, there are a total of 157 worth US$783 million or about 6,267 billion kip.
According to recent records, the agriculture and forestry sector accounts for 77 foreign investment projects, worth 2,266 billion kip, while the industrial sector has 57 projects at a value of 3,499 billion kip.
The 40 foreign investment projects in the trades and services sector are worth 658 billion kip.
Champassak is one of 18 provinces in Laos and is located in the southern part of the country.
It has an international airport at Pakxe, Vangtao checkpoint on the Lao-Thai border and Nongnokkhien checkpoint on the Lao-Cambodian border.
The province has a diverse range of investment projects from both local and foreign investors, including hotels, guesthouses, resorts, restaurants, entertainment venues, industrial production, trade operations, processing industry and the financial services sector.
The province also has a large land area on the Bolaven plateau for rice, small crops and livestock breeding.
Most of the produce grown or raised in Champassak is delivered to the neighbouring countries of Thailand, Vietnam and Cambodia and also for local supply.
