Representatives of Luang Prabang province and the company that was granted the land concession display signed documents at a recent ceremony.

Luang Prabang grants 30-year land concession for tapioca factory

Residents of Houayla village of Nan district in Luang Prabang province are set to benefit by supplying cassava or getting jobs at a tapioca factory to be set up in the area.
The LS Trading Export-Import Co Ltd recently reached a 30-year land concession agreement with the authorities of Luang Prabang province to establish a tapioca factory in Nan district.
The ceremony for signing an agreement for the factory was held at the provincial Planning and Investment Department. The agreement was signed by the Director of the department, Mr Chindavong Phosykham, and the Managing Director of LS Trading Export-Import Co Ltd, Mr Somxay Duangchaleun.
The Deputy Governor of Luang Prabang, Mr Bounleuam Manivong, participated in the event along with other officials.
According to the company, the tapioca factory will have a production capacity of 50,000 tonnes a year. The firm plans to invest 97 billion kip in the project and the venture will have a registered capital of 30 billion kip. The company also agreed to create a community development fund of US$15,000 per year and to provide an additional US$10,000 for social development. It also plans to build a road connecting the factory and the local community to the national main road.
The factory will be built on 16 hectares at Houayla village in Nan district.
Both parties are hoping the construction of the tapioca factory will contribute to job opportunities and encourage the local people to grow cassava that can be supplied to the factory.

By Times Reporters
(Latest Update June 16, 2022)