Saravan approves concession for custard apple plantation
Saravan approves concession for custard apple plantation
Saravan provincial authorities have agreed to approve a 200 hectare land concession to a Korean company, the J.S Farm Co., Ltd. to encourage farmers in the province to grow French custard apples and phak ehoum for domestic supply and export.
The company will spend about 4 billion kip in funding for the project, according to the company's feasibility study.
The project area is located in the Tabaeng village area of Lao-ngam district, with a 20 year concession period from 2015-2035.
The project development agreement was signed recently by company representatives and provincial authorities.
The project is expected to help reduce the number of local people working in Thailand, by creating local job opportunities for sustainable incomes.
The benefits from the project will help people in the area bring home better incomes for their families.
The crops will provide food for domestic consumption, as well as medicinal products.
The company began planting the crops last year but has yet to go into full production, a provincial agriculture official said.
The project is a priority project of the government, which will prove beneficial for the district as well as the province.
Through this project, people who work with the company will learn the techniques needed to grow these crops.
This is a new project in the province, and in Lao-ngam district, but as farmers in the area have longstanding agricultural experience, the provincial authorities are confident it will run smoothly.
Last year, the Republic of Korea was the sixth ranked country investing in Laos, with some 257 projects that have a combined investment value of US$800 million.
Trade volumes between the two countries reached US$199 million, with Lao exports to Korea valued at US$12 million and imports from the republic at US$187 million.
