Xieng Khuang sources 5 trillion kip for investment
Xieng Khuang sources 5 trillion kip for investment
Xieng Khuang province has mobilised more than 5 trillion kip for investment within the province in the first six months of 2015-2016, an increase of 2.7 percent according to the yearly plan.
The province has received around 128 billion kip from the state budget for 245 investment projects and was able to implement 168 investment projects worth more than 76 billion kip in the first six months, according to the provincial Planning and Investment Department.
These included 71 investment projects worth more than 11 billion kip for the economic sector, 22 projects worth more than 3 billion kip for the cultural sector, 42 projects worth about 9 billion kip for the administration and office sectors.
It also featured 11 projects worth 2 billion kip for the poverty eradication and rural development sectors, 5 projects worth 1 billion kip for relocation, and 12 projects worth more than 46 billion for development targets.
The province has received grant aid and loans of around 49.7 billion kip (aboutUS$6 million) from international organisations and foreign countries for 28 investment projects, including 24 billion kip (US$3 million) from official development assistance (ODA) for 18 projects and more than 25 billion kip (US$3 billion) from NGOs for 10 projects.
In addition, state enterprises have invested 118 billion kip in their responsible projects and generated 14 billion kip into the state budget.
Besides that, the domestic and foreign private sectors have invested over 4.2 trillion kip in 12 projects in the province, including 2.7 trillion kip in six domestic investment projects and over 1.6 trillion in six foreign investment projects.
Provincial authorities also signed Memorandums of Understanding with local and foreign developers to conduct feasibility studies on the construction of several small scale hydropower projects.
These include the Nam Khom and Nam Sam hydropower plants in Kham district; Nam Ngum Keng Khuan hydropower plant in Paek district; Nam Lieng, Nam Chao, Nam Chiet, Nam Nhiem and Nam Mang hydropower plants in Mok district; and Nam Hok hydropower plant in Khoun district.
Also slated are the Nam Ngum hydropower project in Phoukoud district; Nam Thong and Nam Kam hydropower plants in Phaxay district.
Over the next six months, Xieng Khuang will strive to seek more funds for investment in the province in order to achieve the yearly plan.
All sectors should take full responsibility in implementing the socio-economic development plan based on the resolution of the 10th Provincial Party Congress and the province's 8th Five Year Socio-Economic Development Plan, which is focused on solving issues of development and difficulty.
The authorities also have to pay attention to monitor, inspect and evaluate projects to ensure they will be implemented effectively and abide by the relevant regulations and laws.
