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Posts Tagged ‘Investment Promotion Department’

Up to ten mine projects could have concessions revoked

Vientiane Times, 8 Oct 2014

Some ten mine projects are likely to have their concessions revoked after investors granted the concessions failed to abide by the agreements they reached with the government, according to an official report. The report was presented at the annual meeting of the government held recently in Vientiane when the cabinet met with the Vientiane Mayor and the provincial governors.
Director General of the Investment Promotion Department under the Ministry of Planning and Investment, Mr Achong Laomao told theVientiane Times the investors failed to take action to implement the projects within an appropriate time after getting approval from the government. Some investors also failed to pay related obligation fees and taxes to the government, he added.
The recent government meeting resolved that those companies which did not meet sufficient conditions or failed to abide by the agreements they made with the government must have their concessions revoked.

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