Chinese businesses eye investment in Borikhamxay
Chinese businesses eye investment in Borikhamxay
Chinese business operators have expressed interest in investing in green industry and services within the Viengkham-Thasa-art economic development area in Pakkading district, Borikhamxay province.
A group from Yunnan province in the People's Republic of China recently met with provincial authorities, the Lao National Chamber of Commerce and Industry and local businesspeople to discuss investment opportunities.
The meeting was warmly welcomed by Deputy Governor Mr Bounma Bouchaleun.
Mr Bounma said the meeting would not only focus on cooperation in regards to investment but also help to enhance the friendly relations between Laos and China as well as between Borikhamxay province and Yunnan province.
The group heard reports on the province's potential as well as development plans in transit services, tourism, and agriculture.
They also heard about some of the critical articles in the Law on Investment Promotion.
After th e meeting, the group visited the Thakokkhoun agriculture development centre, a tourism development area in the Huay Siet basin in Pakxan district, and an economic development area near the planned fifth Lao-Thai Friendship Bridge across the Mekong River between the province and Bueng Kan province in Thailand.
They also visited the Viengkham-Thasa-art economic d evelopment area in Pakkading district and a tourism development area at Tad Xay waterfall in Thaphabath district.
The Yunnan business operators expressed interest in developing 4,850 hectares of land at the Viengkham-Thasa-art econ omic development area into an industry and services point, said the Deputy Director of the provincial Planning and Investment Department, Mr Sonthong Vibounkuang.
After returning to Yunnann province from Laos, the group expects to spend a few months making a decision and will then send a team from Yunnan to work with provincial authorities on a feasibility study on the development of green industry and services at Viengkham-Thasa-art.
They will focus on spare parts manufacturing and assembly industries rather than the metal or chemical industries, he added.
After the feasibility study, the provincial authorities will report to the government in relation to the next steps, Mr Sonthong said.
Yunnan businesspeople have also expressed an interest in the agriculture sector but they need to spend more time for development, he added.
Borikhamxay province is expected to become a new destination for domestic and foreign investment, especially in the agro-sector and industrial processing.
Construction of the fifth Lao-Thai Friendship Bridge spanning the Mekong River between Borikhamxay province and B eung Kan province in Thailand is expected to begin in the near future.
Once complete, the bridge will offer a major transport route between Thailand and several cities in Vietnam.
The bridge will likely provide a further boost to Borikhamxay's already fast-growing economy.
