Calling for investment in Sekong province of Laos

(QNO) - A conference on promoting and calling for investment in Laos was organized in Tam Ky city, Quang Nam province by the authority of Sekong province (Laos) on 26 July. At the event, the leaders of Sekong said they would facilitate Quang Nam’s investors by giving them preferential land. They are always ready for inviting businesses learn about investment opportunities and expand prior projects on agriculture, industry, commerce, energy, tourism service in Sekong province.

The participants at the conference.

Sekong’s potential

Sekong owns primitive forests, majestic waterfalls, fertile soil and temperate climate. It is suitable for cultivation of coffee, almond, vegetables, agricultural crops, fruit trees, industrial plants, medicinal plants and flowers, and for animal husbandry of cattle, buffalo, goat, poultry and fish. The rivers in the province can provide enough water for irrigatiton, hydroelectricity, and for eco-tourism and resorts. The province is also rich in mineral resources such as bauxite, coal, iron, gold. The border gate Dac Ta Occ – Nam Giang is the key place of the East-West Economic Corridor to connect between the provinces in southern Laos and Vietnam’s provinces including Quang Nam, Thua Thien Hue and Kon Tum.

According to Director of the Sekong provincial Department of Planning and Investment Thongkham Manivong, Sekong province attracted 86 projects including 55 domestic ones and 31 foreign ones with a total value of USD 1.6 billion for over 12 years. They are mainly in electrical enery (44 projects with a total value of more than USD 1.2 billion, agriculture ( 24 projects with USD 190 million) and mineral exploration and processing (18 projects). Vietnamese enterprises accounted for 19 out of 31 foreign investment projects with a total investment capital of USD 456.71 million, including 13 agricultural projects, 4 mineral projects and 2 energy projects.

Speaking at the conference, Governor of Sekong province Khamphoi Butdavieng said, “Sekong must effectively invest in the development of tourism, service and commerce based on the East-West Economic Corridor through Dak To Ooc - Nam Giang border gate. These projects will create jobs, increasing the local income, contributing to poverty reduction and the modern technique in the production process”. Sekong will propose the Lao Government considering to unbind difficulties and create favorable conditions for Vietnamese businesses to invest in Sekong province.

Creating favorable conditions for investors

Chairman of the Board of Directors of the Mekong Company, FF Organic Tran Sy Thinh said after six years of investment in Sekong, his company now has two factories that can buy and process 200 tons of dried corn per day, a farm of Australian cattle breeds, a dairy processing plant, and some organic farming project. He chooses Se Kong for investment because of its fertile soil, temperate climate, abundant natural resources, good irrigation, drainage system, and the grea local support. “It has created the strength and confidence for businesses to continue to expand investment”, Mr. Thinh said.

Giving his speech at the conference, Chairman of Quang Nam People’s Committee Dinh Van Thu hoped this conference would supply Vietnamese enterprises with full information on policies, potential, advantages, the areas prior to investment attraction in Sekong. Quang Nam will work closely with Se Kong to upgrade the Nam Giang - Dac Ta Ooc border gate to an international border gate in 2018. Quang Nam always supports Se Kong to call for investors in Quang Nam in particular and Vietnam in general to invest in Sekong. At the same time, the province will create the most favorable conditions for businesses in two provinces to invest and do business in each province.