MOIT VIETNAM | Laos Acknowledges Vietnam's Effective Projects in Attapeu Province
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Laos Acknowledges Vietnam's Effective Projects in Attapeu Province
The Vietnamese initiatives in Attapeu have brought several benefits to the local community and Laos as a whole, including the creation of employment and income, the development of exportable goods, and the inflow of foreign cash.
A number of notable projects, including the Xekamane 1 hydroelectric project, investment projects from Hoang Anh Gia Lai Group, the sugar cane project of Thanh Thanh Cong Company, the project of Thaco Group, and others, have attracted Vietnamese businesses to Attapeu, which is currently experiencing a strong investment wave. Deputy Governor Thanousay Bansalth of Attapeu region said that the influx of multinational firms into Vietnam is a major draw for other Vietnamese businesses looking to set up shop in the region.
Beyond the obvious benefits to the province's workforce, economy, and quality of life brought about by these investment projects, there is also the added bonus of increased export turnover and foreign currency revenue for both the area and Laos thanks to the high-quality goods produced.
The Xekamane 1 hydropower plant was one of the first energy projects finished in Attapeu Province, according to the Deputy Governor of the province. Attapeu province and all of Laos stand to benefit greatly economically from the project's successful completion. In addition, the project would be particularly noteworthy when constructed in the Development Triangle area including Laos, Cambodia, and Vietnam. This area will serve to link energy and transportation while also encouraging the regional economies of the three surrounding nations to grow in tandem.
The Xekamane 1 hydropower plant serves as a social safety net during relocation, in addition to its functions in economic growth and complete payment of provincial taxes. Timely completion of all resettlement areas, assured high-quality infrastructure, meticulous design, and comprehensive surrounding amenities (e.g., power, roads, schools, stations, arable land, etc.) are all aspects of this project that have been successfully executed so far. The locals here used to be nomadic, according to Mr. Thanousay Bansalth; they farmed the upland fields as their primary source of income and were totally reliant on the elements—including forests, mountains, and nature—so life was always precarious and unpredictable. Individuals' quality of life is enhanced and their access to social security is ensured upon relocation to the aforementioned resettlement zones. To the province's credit, this is encouraging news.
The fact that Vietnamese businesses invest in the province's agricultural sector using modern agricultural technology helps to bring high economic efficiency while also protecting the environment and developing sustainably, according to Mr. Thanousay Bansalth, who expressed his admiration for this in an interview with the press. The TTC Attapeu Sugar Company's sugar cane production is the standout project in the aforementioned sector.
People will donate land and be primarily responsible for cultivating and harvesting under the new Farmer Cooperation model that TTC Attapeu Sugar Company has introduced. When it comes to sugar production, the company is there to help with everything from seedlings and fertilizers to plant planting technical assistance, as well as buying output goods and taking care of the plants. Produced to exacting standards, the organic sugar from this plant is ready for shipment to Europe. The project has several benefits, including sustainable environmental protection, the creation of employment and money, and the growth of the province's economy.
An important foundation for developing the economy, improving people's lives, contributing to the local budget, and attracting Chinese and Thai businesses interested in the investment environment of their home province is the wave of investment from Vietnamese businesses, according to the Deputy Governor of Attapeu Province. In addition to advancing the governments of Laos and Vietnam's comprehensive development cooperation agenda, the projects will help strengthen the long-standing friendship and solidarity between the two peoples.
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