Agro imports are decreased, says Vice Premier

08/12/2022 16:58
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KPL (KPL) The import of agricultural products decreased by US$9.54 million compare to last year, the ongoing 4th Ordinary Session of the National Assembly was told today.

(KPL) The import of agricultural products decreased by US$9.54 million compare to last year, the ongoing 4th Ordinary Session of the National Assembly was told today.

Deputy Prime Minister Sonexay Siphandone briefed the NA session about the implementation of the National Agenda on Addressing Economic and Financial Difficulties which focuses on promoting domestic production to cut imports and increase exports.

This year rainy season rice production reached 3.76 million tonnes exceeding the annual plan with production of cattle for export market China significantly promoted.

Export-oriented production of agricultural products reached US$1.18 billion, rising by 40% year on year, including US$1.12 billion of crops, and over US$53 million of livestock. 

Electricity export reached US$1.76 billion, up by 7.5% year on year as electricity import from neighboring countries were valued at US$18 million, decreased by over 72% from last year.

Garment exports were estimated at 191 million dollar, an annual increase of 25%. Special economic zones could attract 80 companies with a total investment of over US$236.

Export of industrial products was estimated at merely US$287 million due to high inflation as strict covid-19 restrictions made several factories closed.

Since the reopening of the country in May 2022, more than 644,000 have visited the Lao PDR generating over 285 million as revenues for the economy. Laos expects to receive one million visitors by the end of this year.

The total quantity of freight transported by the China-Laos Railway had exceeded 10 million tonnes as of early November, according to Xinhua News Agency.

Among the total, the cross-border cargo transportation volume topped 1.8 million tonnes, with its value hitting 1.7 billion U.S. dollars, China Railway's Kunming bureau was quoted as saying by Xinhua.

Xu Jiefeng, director of the marketing department of Kunming East Railway Station, said that the international freight trains of the Laos - China Railway make the logistics transportation between the two countries fast and cost-controllable.

Since the opening of the railway, its freight transportation volume has increased month by month, Xu noted.

So far, 25 provincial-level regions in China have operated international freight trains on the Laos-China Railway, and freight transportation has covered countries and regions including Laos, Thailand, Myanmar and Singapore.  

KPL

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