Luang Namtha's trade value exceeds 2 trillion kip
Luang Namtha's trade value exceeds 2 trillion kip
Luang Namtha province's trade value exceeded 2 trillion kip in the first six months of this fiscal year, the provincial Deputy Governor has said.
Dr Phengphavanh Daophonchaleun recently gave a report on the province's socio-economic development to a high-level delegation from Xishuangbanna Prefecture in Yunnan province, China, when they paid a working visit to Luang Namtha.
He told the delegation that Luang Namtha enjoyed political stability, social order and economic growth.
The province's socio-economic development has made good progress, with the economy growing by 8.7 percent and GDP per capita reaching US$1,454 in 2015.
Goods production has significantly increased, in particular the cultivation of rice, maize, sugarcane, watermelons, bananas, other fruit, cassava, non timber forest products and vegetables. This ensures food security for the province and provides a source of exports.
Dr Phengphavanh said the cultivation of rubber trees was the province's most noteworthy form of agriculture and there were currently 34,000 hectares of trees.
Twelve hectares of rubber trees have been tapped for latex this year and the material is selling for an average of 5,200 kip per kilogramme.
The province has continued to encourage business development and the improvement of processing factories and manufacture of construction materials. Officials are also trying to boost crop yields and build more drinking water and other plants, and ensure they operate in line with quality and technical standards.
Luang Namtha currently has 2,231 registered enterprises and the value of domestic goods sales reached more than 2 trillion kip in the first six months of this fiscal year.
At the same time, the value of exports reached US$28 million while imports were valued at US$32 million, Dr Phengphavanh said.
The trade and investment sectors have expanded and there were increasing numbers of foreign and domestic investors coming to grow sugarcane, rubber trees, and other crops, he added.
The tourism sector had also grown, especially in terms of cultural attractions and historical sites. Hotels, guesthouses and restaurants were ready to serve all visitors efficiently.
Dr Phengphavanh said Luang Namtha had attracted more investors in recent years and had regular visits from people in Xishuangbanna Prefecture which was close to La district. People from the two regions frequently traded with each other, he added.
He suggested that the two provinces continue their cooperation and friendly relations to enhance assistance in all sectors. He encouraged Chinese businesses to invest in the province, especially in agriculture and the export of rubber.
During their visit, the delegation from Xishuangbanna Prefecture presented a photocopy machine and phones to the provincial Administration Office.
