Vietnam becomes biggest foreign investor in Laos

Vietnam topped foreign investment in Laos with 429 projects totalling $4.9 billion, according to the Lao Ministry of Planning and Investment.
The signing ceremony of Vietnamese-invested hydropower project in Lao

Thailand stands in the second position with 742 projects capitalised at $4 billion, followed by China with 801 projects worth a combined $3.9 billion.

South Korea with $748 million, France $490 million, Malaysia $430 million, Japan $428 million, the $150 million, Singapore $134 million and India $61 million followed.

Mining was the most popular sector for foreign investors, accounting for 27pct of total investment, followed by electricity generation, comprising 25pct, said the ministry.

Other attractive sectors for foreign investors included agriculture, services, processing, hotels and restaurants, construction and banking.

The Lao government has implemented policies to reduce and exempt taxes for foreign companies to invest in rural areas.

In the 2011-2015 period the Lao government intends to attract $15 billion in foreign investments to help maintain GDP growth of at least 8pct per year.

Source dtinews