Vientiane: A handover ceremony for the Head of the Investment Promotion and Management Committee Office of Vientiane was held on March 31 at the Vientiane Administration Office. The event marked the transition between outgoing and incoming officials and was attended by Mr. Atsaphangthong Siphandone, Member of the Party Central Committee and Secretary of the Vientiane Capital Party Committee, along with relevant officials.

According to Lao News Agency, Mr. Thanongxay Khoutphaythoune, the outgoing head, presented a report detailing achievements during his tenure. The report noted that the office oversaw 78 concession and controlled business projects. Of these, 40 projects signed concession agreements with a combined investment value of 776 million US dollars, covering 496 hectares. Additionally, 38 projects are currently under memorandums of understanding, while a total of 217 investment licenses have been issued.

Mr. Thanongxay also emphasized the development of an investment project portfolio for 2021-2025, consisting of 38 projects with an estimated total value of 10,678.98 billion kip. The report identified challenges and outlined plans for future improvements.

During the ceremony, a representative of the Vientiane Personnel Organizing Committee announced official decisions on personnel changes. Under Agreement No. 08/VCC, Mr. Thanongxay Khoutphaythoune was transferred to a new position at the Vientiane People's Council. Under Resolution No. 11/VCC, Mr. Thanongsin Sengphavong was appointed as the new Head of the Investment Promotion and Management Committee Office.

Mr. Atsaphangthong Siphandone delivered closing remarks, providing guidance to officials on their future responsibilities.