Chinese firms eye Sangthong investment
A Chinese business delegation comprising well-known enterprises from the nation’s Zhejiang province paid a visit to Sangthong district, Vientiane on Saturday to view potential development sites.
The delegation was led by Mr Wang Qin Li, a representative of Zhejiang Honglou Group.
The representatives came from numerous companies including Pi ng’An Bank, Zhejiang Honglou Group, Hangzhou Jinlunhui Commercial and Trading Company Limited, Hubei Dafang Real Estate Company Limited and other Chinese commercial firms.
Their visit to development sites in the district was led by Vice Chairman of Phongsavanh Group, Mr Khamphay Chansisamouth.
The Phongsavanh Group is a leading group in Laos with successful businesses in international trading, timber, hotels, telecommunications, consumer products, petroleum and airlines.
The Chinese commercial delegation’s visit was on the recommendation of the Phongsavanh Group which is aiming to promote development in Sangthong district in line with the government’s goals.
Deputy Governor of Sangthong district, Mr Bouakham Sisongkham welcomed the group of Chinese business representatives at the district office where he briefed them about the area’s investment opportunities and its potential regarding agriculture, tourism and services.
“Sangthong district is rich in water resources, labourers and land for agricultural production but we still lack modern tools and techniques to be used in commercial production,” he said.
According to the authority, Sangthong district has three special development areas: the area along the Mekong riverbank, Namsang River area and Namtone riverside.
Mr Bouakham said the Mekong riverbank was suitable for operating restaurants, while the Namsang River area would suit development of natural tourism sites and livestock breeding and the Namtone River would suit natural and historical tourism site development as well as rice and crop production.
“Recently, groups of businesspeople from several countries paid on-site inspections to the island in the Mekong River. They are interested in developing it as a tourist attraction,” he said.
He also emphasised to the visiting delegation that,“Sangthong district is keen to welcome all investment projects from China. Investors can decide what exact areas they want to do business in.”
After the site inspections the Chinese business representatives will confer with their comp anies about future plans before returning to Laos again.
Sangthong district is keen to boost its agricultural production, livestock breeding and tourist attractions with some business delegations from Thailand, China and other countries expressing interest in investment projects.
Last year, China was ranked as number one for foreign investment in Laos, followed by Thailand and then Vietnam.
By VIENTIANE TIMES
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