Vietnam tops foreign investors in Laos
(VOV) - Vietnam has become Laos’ biggest foreign investor during the period since the Lao Government first adopted foreign investment incentive policies (1989–2012).
Vietnam has so far poured US$4.9 billion into 429 projects in Laos. It is followed by Thailand with 742 projects worth US$4 billion and China with 801 projects valued at US$3.9 billion.
The remaining ten biggest foreign investors in Laos include the Republic of Korea (RoK) with a total capitalization of US$748 million, France (US$490 million), Malaysia (US$430 million), Japan (US$428 million), the US (US$150 million), Singapore (US$134 million), and India (US$61 million).
The most popular fields for foreign investors are the mining industry (accounting for 27 percent), electricity production (25 percent), agriculture, services, processing, hotels, restaurants, telecommunications, construction, industry, and banking.
The Lao Government offers preferential policies including tax relief to encourage foreign investors to operate in disadvantaged rural areas, generating employment and increasing incomes.
From 2011 to 2015, Laos aims to attract approximately US$15 billion in direct foreign investment (FDI) as a means of maintaining annual GDP growth rates above 8 percent.