April 19, 2011(KPL) More than 4,000 locals in the southernmost province of Champassak will get jobs and improve their living conditions after the government has allowed the Vietnam- Laos Rubber Tree Joint Company to further grow more rubber trees in the province.
The Vietnam-Laos Rubber Tree Joint Company was established in 2005, to plant rubber tree on 10,000 ha in Bachiengchalueansouk and Sanasomboun districts in Champassak province.
The initial investment was 549 billion kip, which had eight shareholders from Vietnam’s rubber industry group. The rubber trees plantation project started in two districts and completed in 2008, which saw two years’ finish in advance as planned. The company has also built infrastructure and other facility in two districts. Throughout the inspection and estimation of Government seeing that the project was an effective and considerable benefit to the local people and authorities, leading to the signing ceremony for extensive land concession between the Lao government and Vietnam-Laos Rubber Tree Joint Company, in Vientiane Capital, early this month.
The first phase is estimated to produce 15,000 tonnes of rubber per year. And the second in 2012-2013 periods will produce 9,000 tonnes of rubber yearly.
Signatories to the agreement were Deputy Director of National Land Authority Mr. Ounla Soukanh and Deputy Director of Vietnam-Laos Rubber Tree Joint Company in the witnesses of Minister to Prime Minister’s Office Mr. Kham-Ouan Boupha and representatives from the ministries concerned.