Regional Firm to Invest in Champassak
Champassak authorities have granted permission for a regional company with its headquarters in Hong Kong to invest in an US$200-million agriculture and tourism development project in the province.A Memorandum of Understanding (MoU) for the project was signed in the province on Wednesday between CEO of Asin Intl (Lao) Co., Ltd (Asin) Mr. Allan Yang and Deputy Director of Champassak Provincial Department of Planning and Investment Mr. Bounthiem Phiasakha.
The event was witnessed by Champassak provincial Governor, Dr Bounthong Divixay and other officials from both sides.
The project is located in two different sites. The first location is on 200 hectares at NongHualing Lake near the UNESCO World Heritage listed Vat Phou temple complex.
The other location is on 150 hectares at Nongsan Lake in Pathoumphon district which is 45 km from Pakxe provincial town and on the way to Siphandon region (four thousand islands).
The total concession area covers about 350 hectares with the project to be implemented over 50 years. Firstly, Asin will organise a survey team to work onsite and submit a feasibility study along with environmental and social impact statements within 6 months.
After the project commenced, many different crops and flowers would be planted inside the area assisting tourism and the economy for the betterment of local people and making the environment more attractive, according to Asin.
The two sides promised there will be more mutual communication, support and cooperation. Allan Yang indicated if the project proved successful they planned to invest more in different applications such as tourism, real estate and infrastructure in Pakxe the major southern city in Laos.
The major business scope for Asin includes real estate, agriculture, finance, hospitality and engineering. It is located in Vientiane and headquartered in Hong Kong (called HK JAS) with various branch offices in Shanghai, Chongqing, Kuwait and Laos.
Mr. Allan Yang, CEO of Asin Intl, graduated and has worked in different states of America in high level management positions for many years.
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Source: Vientiane Times