Vietnam Remains Leading Investor in Laos
Vietnam continues to be the top foreign investor in Laos during the first six months of the 2008-2009 fiscal year with 32 projects capitalized at US$1 billion.
The Lao Ministry of Planning and Investment said the country pulled in US$3.4 billion worth of FDI in the review period with some US$3 billion invested by firms from Vietnam, China and Thailand.
Vietnamese companies are interested in the neighboring nation’s five-star hotels, high-end apartments, golf courses, trade centers and resorts projects. Mineral exploitation is also a favorite field for Vietnam.
Vietnamese projects are mainly located in the capital Vientiane and the provinces of Savannakhet and Champasak.
Lai Quang Thuc, chairman of Vietnam-Lao-Cambodia Economic Development Association said, Vietnamese companies should take advantages of opportunities to pour more investment into the two neighboring countries of Laos and Cambodia.
Local investors will enjoy advantages to do business in the two countries, Thuc said, pointing out that the two neighbors possess great natural resource potentials.
In 2008, the trade value between Vietnam and Laos was US$450 million, up 44 per cent on year.
The two countries aim to boost bilateral trade to US$1 billion by 2010 and US$2 billion by 2015. (VoV)
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