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Dr Sthabandith Insisienmay (right) and Mr Saysanti Thammavong shake hands after signing the fruit plantation concession agreement in Vientiane on Friday. |
New agreement entered for Borikhamxay fruit plantation project
In a groundbreaking step for the Lao agricultural sector, a concession agreement for a major fruit plantation project was officially signed at a ceremony held on Friday in Vientiane.
This ambitious project will span 1,703 hectares across the villages of Nam Deua, Na Kheua Nai, Na Kheua Nork, and Thong Garb in the Pakkading district of Borikhamxay province.
Representing the Lao government, Deputy Minister of Planning and Investment, Dr Sthabandith Insisienmay, signed the agreement alongside the Director of Lao Veun (Coconut Farm) Co., Ltd, Mr Saysanti Thammavong.
Other high-ranking officials, including Deputy Head of the Agriculture and Forestry Office, Mr Sisavath Sodara, and Director of the Borikhamxay Planning and Investment Department, Mr Xayamphone Sihavong, were present to witness the historic partnership, along with other representatives from related government offices and Lao World.
The fruit plantation project, which will officially begin operations next year under a 30-year concession contract, is set to introduce a mix of high-demand fruit crops into the market, including coconut, mango, jackfruit, and avocado.
The Lao Veun representative emphasised that these fruits will be grown for export to China and local distribution across Laos, tapping into lucrative markets while helping to promote domestic consumption.
In addition to boosting agricultural production, this large-scale plantation is expected to generate substantial economic benefits for Laos, providing employment for Borikhamxay residents, stimulating economic growth, and contributing to national revenue through increased exports.
As one of the largest fruit cultivation initiatives in the region, this project highlights a shared commitment between the Lao government and the private sector to create a more sustainable, globally competitive agricultural industry.
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Dr Sthabandith Insisienmay (right) and Mr Saysanti Thammavong shake hands after signing the fruit plantation concession agreement in Vientiane on Friday. |
By Times Reporters
(Latest Update November 12, 2024)
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