Lao, Thai companies launch Saravan agribusiness project
The Tripletwo 222 Holding Co., Ltd. under Tripletwo 222 Group of Thailand has teamed up with Bachieng Agriculture Promotion Export-Import Sole Co., Ltd. to establish a large tapioca factory in Saravan province.
The project is underway with investors expecting construction to be completed in 2019.
The companies last week launched the project in Vientiane, with a ceremonial switch turned on by the CEO of the Tripletwo 222 Group, Mr Anon Singka, and Managing Director of Bachieng Agriculture Promotion Export-Import Sole Co., Ltd., Mr Somchai Jitphitaklert.
Mr Anon Singka ( left ) and Mr Somchai Jitphitaklert ( right ) flick the switch on the cooperation project in Vientiane last week.
The celebration was attended by Thai Minister Counsellor (Commerce) in Vientiane, Ms Yanee Srimeechai, and Tripletwo 222 Group representative Mr Phongkarn Kosittamanum along with officials from Tripletwo 222 Global Finance and Laos and Thai business operators.
The venture will help to develop the local economy and assist people taking part in the project.
“The project relies on private sector investment but its goals are in line with government policy,” Mr Anon said.
The project will also stress socio-economic development in Saravan province and increase human resource capacity.
“Through the project, Laos will benefit by improving business operators so they can meet international standards,” he said.
The companies plan to develop more projects in Laos through strong collaboration as well as boosting relationships between Laos and Thailand.
Thailand is one of largest foreign investors in Laos with major projects in the energy and mining sectors followed by the service sector, agriculture, industry and handicrafts, trade and construction.
Thailand is also Laos' top trading partner and a lifeline for vital imports such as finished oil products, vehicles, machinery and steel. Likewise Laos exports a large amount of scrap metal, processed wood, fruit and vegetables to Thailand.
By Times Reporters
(Latest Update January 23, 2017)