Lao and company officials display signed Memorandums of Understanding on the maritime development project. - VT
VIENTIANE (Vientiane Times/Asia News Network): The Ministry of Planning and Investment has authorised Aryavart Ship Management Pvt Ltd to carry out a feasibility study on maritime management and development.
Deputy Minister of Planning and Investment, Dr Sathabandith Insysiengmai, and the Director of Alexarya Corporation International, Jaspreet, on Wednesday (Aug 11) signed a Memorandum of Understanding on the project.
The study will take about two months and the company has given US$50,000 as surety.
Aryavart Ship Management Pvt Ltd has vast experience in the maritime sector and is committed to transforming Laos from a landlocked to a sea-linked country by creating a major gateway for the maritime industry and a parallel world of “Blue Economy”.
Through maritime sector development, the company is committed to contributing to economic growth and social development in Laos.
The maritime industry, being the synonym of growth and development, will create numerous employment and business opportunities in the country.
Last month, the Ministry of Planning and Investment also authorised the Hongkong Tianchi Group Corporation to carry out a feasibility study on a project that would combine agriculture and tourism in Attapeu province.
The project will cost about US$50 million to bring to fruition and will involve planting industrial tree species and crop cultivation over a period of two years in Nong Hin, Nong Muang and Mat Ka villages in Sanamxay district, on 5,100 hectares of land.
In June, the Ministry also authorised Yunnan Puning New Energy Investment Co., Ltd. to install a solar-power electricity system in three villages of Sangthong district, Vientiane.
The scheme supports the government’s green growth development path through the production of clean energy.
Solar power will be installed in Pak Thaep, Haiti and Hin Siw villages, which were chosen for their geographic suitability.
