Bokeo revokes 7 unimplemented projects

Bokeo province has revoked seven projects that were not implemented by local and international backers on the grounds that the investors had violated agreements signed with the government.
Bokeo Governor, Mr Bouakhong Nammavong, said authorities are inspecting investment projects across the province that were approved by the government to determine which had yet to start. This is being done to maximise socio-economic development in Bokeo as the province had lost the opportunity to develop sites which had been allocated for such projects.

According to Lao Phatthana Newspaper, the investigation also found only 13 of 60 banana plantations across the province had completed their business registration. The concerned authorities have called on the plantations to complete their documentation.
The owners of some plantations have returned home due to the Covid-19 pandemic, and provincial authorities have to wait for their return to complete the registration process.
Banana plantations in Bokeo currently cover 6,000 hectares, down from 11,000 hectares some years ago. Local farmers have grown other crops in areas previously covered by banana plantations and the produce is sold in Bokeo and nearby provinces.
Earlier this year, a deputy prime minister told the National Assembly that the government has revoked the investment licences of 82 projects after investors violated agreements signed with the government. Dr Sonexay Siphandone, who is also Minister of Planning and Investment, said previously the government revoked the licences of the 82 projects, including five projects whose agreement implementation guarantees, amounting to US$160,000 (more than 1.4 billion kip), were seized.
The revoked projects included 70 mining, nine hydropower and three agricultural projects. Common violations of the investors suggested that they had failed to take any action to implement the projects in line with the agreements, while the implementation of some projects was unacceptably slow.
Responding to questions during the ninth session of the National Assembly’s eighth legislature, Dr Sonexay said the government has carried out inspections since 2016 and found the violations. Reports have emerged that many investors were granted investment licences for projects but they did not take any action to implement them within the defined time. They sought other investors to resell the licenced projects to. Though measures have been taken to address the issue over the past few years, similar concerns remain.

By Times Reporters
(Latest Update August 4, 2020)