Foreign and domestic investors are still bullish on Champasak

Foreign and domestic investors are still bullish on Champasak

(KPL) For the first quarter of 2008-2009, foreign and domestic direct investment in Champassak province increased by 562 per cent, compared to the same period last year, with 19 projects and total investment of 449.2 billion kip.
Mr Nanongsak Satakoun, Head of Provincial Planning and Investment Division said that for the first three months of the year, the total investment in Champassak is 593.89 billion kip and US$307.79 million.
Foreign and domestic investors show an interest in investing in Champasak province and they continue to invest in spite of the prevailing global financial crisis, he said.The Lao government has responded appropriately and it has approved big investment projects, such as the rubber plantation projects, added Mr Nanongsak.
He raised the question of the attractiveness of Champasak province and he said one of the reasons is that the provincial government has created conditions that are conducive for investment.
For the investors, past precedents show that the agricultural sector is the most popular with 12 projects and the other two sectors, service and industrial have only four and three respectively.
While investment in Champassak province is on the roll but the foreign direct investment in Savannakhet province had spiraled downwards.
According to the Deputy Head of Planning and Investment Division in Savannakhet provinc, Ms Khampin, the foreign investors are losing interest in this province so that there is a dramatic decrease of 74.32 per cent in investment by them for the first three months of 2008-2009, from October to December, with only 6 projects worth US$9.5million.