Laos eyes big investment increase from China in 2010

18:37, December 22, 2010      

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The Chinese investment in Laos has risen significantly over the past two years, Lao News Agency ( KPL) reported on Wednesday.

The Chinese investment in Laos rose from 247 million U.S. dollars in 2009 to 556 million U.S. dollars in 2010, KPL quoted Minister of Planning and Investment Sinlavong Khouthphaythoune as saying.

The minister made the remarks at a business seminar that was held by the Lao government and the Chinese Embassy on Tuesday in the Lao capital of Vientiane. In the meeting, Lao government officials discussed with Chinese business people the possible solutions to investment environment in Laos.

Since 2000, 39 countries have invested in 13 areas in Laos. Vietnam ranks as the largest investor in Laos with 252 projects of a combined investment of 2.77 billion U.S. dollars, followed by China with 397 projects valued at 2.71 billion U.S. dollars and Thailand with a total investment of 2.6 billion dollars for 269 projects, according to KPL.

The Lao government has implemented an open door policy to enhance cooperation with the international community and promote domestic and foreign investment for the past two decades.

Sinlavong said that in order to attract more foreign investment in the country, the Lao government paid attention to improve the business and investment environment by improving legal instruments and creating favorable conditions.

Source: Xinhua
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