Attapeu becoming a magnet for investment
Attapeu becoming a magnet for investment
Laos' southern province of Attapeu is continuing to attract investors following improvements to its infrastructure and facilities in recent years.
Director of t he province's Planning and Investment Department, Mr Sulichan Phonekeo, reported that investment in the province had boomed over the last 15 years, as it welcomed 59 projects, including 30 projects from foreign investors, with a total value of US$2 billion.
Most of the foreign investment is in agriculture with 15 projects valued at US$539 million and 15 mining projects worth about US$1.3 billion.
Domestic investment from 2001-2015 resulted in 29 projects with 14 agriculture projects, four mining projects, one in the hydropower sector, two in the service sector and others involving mineral sands.
The province has set a goal to attract total investment of US$2.9 billion within the next five years.
Attapeu is located in the centre of an economic development triangle with National Road No. 18 linking Cambodia, Laos and Vietnam, so commercial activities there are growing.
An international airport opened in the province last year, although there are no flights in service yet.
However, the airport is considered a significant project in spurring socio-economic development, attracting further investment and boosting tourism, as it links Attapeu to other regions through public transport and air freight.
Attapeu province plans to improve its population's living conditions by 2020, with per capita income set to reach US$2,900.
The province is continuing to improve infrastructure to attract investors, and this will help in driving its goal to boost exports by 15 percent and imports by 10 percent over the next five years.
