Latest news with #AsiaPotashInternationalInvestment
The Star
4 days ago
- Business
- The Star
Khammuan province celebrates Laos' historic year with ambition and action
VIENTIANE: The year 2025 is a time of pride and reflection for Laos, as the country celebrates the 70th anniversary of the Lao People's Revolutionary Party, the 50th anniversary of the Lao PDR, and the 105th birth anniversary of President Kaysone Phomvihane. Located in the geographic heart of Laos, Khammuan province is honouring these milestones not only with celebration, but with concrete progress. In a recent interview, Governor Vanxay Fongsavanh shared how the province is transforming national pride into lasting development by creating jobs, attracting investment and showcasing its natural beauty to both locals and the world. Situated in central Laos, where National Roads 13 and 12 intersect, Khammuan has become a vital logistics hub—connecting provinces and neighbouring countries alike. Under its current five-year socio-economic development plan, the province is focusing on three priority sectors: agriculture and forestry, energy and mining, and tourism and services. 'We're building on what makes Khammuan strong,' said Governor Vanxay. 'By focusing on our natural resources and strategic location, we are driving real development.' One of the province's flagship developments is the Asia Potash International Investment project, a large-scale foreign enterprise focused on potash fertiliser production and the development of a smart industrial park. The project is Chinese-owned. According to the company, it currently employs about 5,000 local workers and 2,000 foreign nationals. It plans to hire an additional 1,500 labourers. 'The plant produces around three million tonnes of potash a year,' the Governor said. 'It's a major contributor to the economy of Khammuan province and to national development.' Meanwhile, agro-processing industries are on the rise—turning local crops into high-value products and drawing strong interest from domestic and foreign investors. Several companies have already begun surveys and pilot operations. 'We're actively promoting agro-processing,' the Governor said. 'These ventures are helping to diversify our economy and create rural employment.' Khammuan is making concerted efforts to create a business-friendly environment. The provincial administration is easing land access, addressing bureaucratic hurdles and assisting investors with local workforce recruitment through community engagement. 'Investors are coming from many countries, with China being our largest partner,' Governor Vanxay said. 'Chinese companies are investing in industry, agriculture, and tourism.' In 2024, Governor Vanxay led a trade mission to Shanghai province in China, resulting in over US$850 million in new investment through more than ten signed Memoranda of Understanding. The province aims to expand its investment promotion efforts to other regions of China this year. One tangible result of this partnership is the recently opened Khammuan International Hospital, a Chinese-funded facility that strengthens healthcare services for both residents and foreign workers. Tourism continues to be one of Khammuan's most promising sectors. From dramatic limestone caves to pristine waterfalls, the province boasts a wealth of natural and cultural treasures. According to Governor Vanxay, Khammuan has identified 210 potential tourist sites, with 23 already open to visitors. A new attraction, Khun Khong Lang Lake, is set to open in June and is expected to draw increasing numbers of both Lao and foreign tourists. Another emerging highlight is Phou Pha Marn, developed by Green Discovery led by eco-tourism pioneer Inthy Deuansavanh. Nestled among striking karst landscapes, this site offers adventure experiences such as zip-lining, canopy walks, rock climbing, and hiking—all designed to showcase the landscape while preserving its natural integrity. 'Our province is rich in natural beauty and culture,' said Governor Vanxay. 'We're proud to share that through festivals, cultural events, and responsible tourism.' As Laos marks a year of national reflection, Khammuan stands out as a province not only celebrating its heritage but also shaping the country's future. 'This year, Laos is celebrating three historic occasions. Khammuan has been preparing and intensifying efforts to create even greater successes to mark these meaningful days,' Governor Vanxay said. - Vientiane Times/ANN
Babnet
05-04-2025
- Business
- Babnet
Tunisia: Chinese Company "Asia Potash" Announces Intent to Invest in Large-Scale Phosphate Mining Project in Kef, Tunisia with $800 Million Investment
Executives from Asia Potash International Investment, during an official visit to Tunisia, expressed their strong interest in investing in the mining sector, with a focus on exploiting phosphate deposits in the governorate of Kef and establishing a comprehensive industrial mining complex. During a meeting held last Thursday with Jalel Tabbib, Director General of the Foreign Investment Promotion Agency (FIPA), the Chinese representatives revealed plans to initially extract one million tons of phosphate, with a goal to reach 8 million tons in the medium term, and an overall investment estimated at $800 million USD, according to a statement released Friday by FIPA. Asia Potash is a global leader in potassium mining and agricultural development, also involved in international bulk shipping of materials such as coal and iron ore, in addition to providing logistical services. The visiting Chinese delegation was led by Yu Baoli, Vice President of the Industrial Development Department, and Houming Faimen, Director of Mining Development Investment, who expressed the company's desire to establish a long-term partnership with Tunisia in the field of mining industries. For his part, Jalel Tabbib, Director General of FIPA, welcomed this investment initiative, stating that the choice of Tunisia by such a major industrial group reflects growing international investor confidence in the country's business environment. He also reaffirmed Tunisia's commitment to supporting foreign investors, especially in high value-added sectors like mining. During the meeting, Tabbib also presented a detailed overview of the foreign direct investment landscape in Tunisia, highlighting the presence of Chinese companies and the various advantages Tunisia offers, including tax incentives, flexible legislation, and a strategic location between Africa and Europe. If realized, this project would become one of the largest upcoming Chinese investments in Tunisia, expected to revitalize the local economy of Kef, generate hundreds of direct and indirect jobs, and boost national phosphate production, which has declined in recent years.
