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Xieng Khuang to promote investment in livestock farms

Xieng Khuang has named livestock farming as an area of business that will get special support from provincial authorities.
The provincial Governor, Mr Bounton Chanthaphone, recently signed an administrative notice which listed small and medium sized enterprises (SMEs) that provincial authorities plan to support.
One business for which provincial authorities plan to offer investment incentives is the establishment and operation of livestock farms that produce goods for domestic consumption and export, according to the notice, which is posted on the official Lao gazette.
Xieng Khuang is located on high ground and has large areas of green grass. The province has a moderate climate with temperatures that are generally lower than in many other parts of the country. This makes it suitable for raising cattle for commercial purposes.
In addition to rearing animals, the provincial authorities will promote investment in a slaughterhouse, a milk processing plant, a food packing factory, cold storage, and crop drying facilities. Other businesses named in the notice are the cultivation of organic vegetables, sweetcorn, sesame, beans, flowers and herbs.
Investment in hotel and tourism related businesses is also entitled to special support from the province. In addition, provincial authorities will encourage investment in the establishment and operation of clean markets, a product exhibition centre, and the advertising of innovative businesses.
Details of these businesses are available on the official gazette, which is a government website designed to distribute approved legal documents and policies.
According to the Governor’s notice, people who plan to establish and operate businesses listed in the notice will get special support from provincial authorities so that they are motivated to invest in and manage these businesses.
However, at this stage it is unclear exactly what incentives will be offered.
To encourage investment in the listed businesses, provincial authorities have made a strong commitment to improving the business climate so that business operators will find it easier to register their enterprises and obtain the necessary legal documents, according to the notice.
The notice also states that provincial authorities will consider providing selected businesses with low interest loans so their investment costs are lower. In addition, the authorities will find out how to reduce the taxes imposed on these businesses.
To enhance the capacity of entrepreneurs, provincial authorities will provide them with a business management training course so they broaden their knowledge and learn about new technology and modern equipment for use in expanding their operations.
Access to markets and good price guarantees are facilities that provincial authorities also plan to provide, to help the owners of the businesses they want to support.

By Ekaphone Phouthonesy
(Latest Update May 9, 2019)

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