Laos: Champassak province fosters foreign investmentadmin
Champassak province is located in the south part of Laos, it is attracted both Lao and foreign businessmen headed to do business, especially in industrial handicraft sector, which increased 25 percent annually since 2001.
In 2001 the province has 2,794 factories, most of them invested in industrial production, in 2005 increased by 84% or 5,141 producing units and the industrial production amounted to 1,038 billion kip per year. The distribution of products was worth 1,256 billion kip that covered by 23 percent of provincial GDP and contributed to 119 billion kip of tax obligation per year.
For the production of finished products for export, including parquets, scrapped wood items and another wood products. In addition, there are shoes, palm tree beer, dried banana, tea and bamboo.
While the import were medicines, construction equipment, soft drink, steel furniture, finished product concrete and coals.
Electricity network system has expanded beside with other development, with capacity to supply electricity to 456 village or covered 50 percent of the province compared to the year 2000
Additionally, the provincial administration is also seeking for foreign investors in surveying mines of copper and iron. This year there was a Lao-China Mining Company has just completed the survey.
Lao Service Company was authorized to survey for Bauxite mine in Paxong district, Iron mine in Pathoumphone district. Most outstanding event in Champassak province was the construction of second of Lao Brewery Plant in the province, now the construction is under construction.
Over the past five years ago, the handicraft industrial products reached 866 billion kip.
For the next five years, (2006-2010) Champassak province will continue to manage, inspect, and promote handicraft industrial product units to attract overseas and domestic investors.
Product sector is set to increase by 12-15% per year, National production is set to increased by 35 percent or 3,353 billion kip.
The construction are underway to be finished next five years, including the Second Beer Lao Brewery, Coffee, steel rod product, and five small scale hydropower dam.