During their
recent visit to Laos,
cadres and correspondents from Binh Duong Daily had an interview with
Mr.Saythong Xayavong, Director of Champasak provincial Department of Planning and
Investment.
Could you tell us about investment in Champasak?
Investment in Champasak is now implemented under Laos’investment law. For projects with investment capital under US$5mln, they will be granted investment license by the province while Laos’Ministry of Planning and Investment will be responsible for granting investment license to those capitalized between US$5mln and US$20mln. Projects valued over VND20mln will be granted investment license by the Government of Laos.
Projects relating to land must be submitted to the Department of Planning and Investment while those involved industrial manufacture must be submitted to the Department of Industry…Within 25 days since projects submitted to functional agencies, investors will be granted investment lisence. Land-leasing prices herein are depend on each field and maximum duration is not over 99 years.
How many projects from Vietnamese investors are there in Champasak?
Vietnam now has 37 investment projects in Champasak with a total investment capital of US$217.7mln. Most of them come from HCM city, Binh Duong, Dong Nai, Dac Lac, Binh Dinh….with main fields pertaining to rubber, restaurant-hotel services, coffee, industrial park infrastructure…
Vietnam takes the lead among countries making investment in Champasak with investment capital accounting for 51% of the province’s total FDI, followed by Thailand.
Binh Duong and Champasak have signed a cooperation agreement on many fields, so what favours will Binh Duong’s investors be received when making investment in Champasak?
We will create the most favorable conditions for investors from Binh Duong. Among Vietnam’s investors in Laos, Dau Tieng Viet-Laos Rubber Joint Stock Company is the biggest investor with a total investment capital of US$35mln. The company now plans to expand its rubber cultivation area and we have suggested this to the Government of Laos.
What is your assessment about the influence of Vietnam’s investors in general and Binh Duong’s investors on Champasak’s socio-economic performance?
Investors of Vietnam and Binh Duong have effectively worked in Champasak, especially made great contributions to the local poverty reduction employment creation.
We want that investors from Binh Duong will further boost investment in Champasak, contributing to promoting Laos’economy. Binh Duong’s strong point is industrial infrastructure investment and we have prepared three places for industrial development with 32,000 hectares in total. We have also given priority to agricultural production in order to eradicate hunger, reduce poverty and many other fields on health-edcuation…to improve intellectual standards of the people herein.
Thanks a lot!
Reported by Trung Dong-Translated by K.T
