Vietnam, Thailand top Laos FDI
- Published: 13/02/2013 at 03:34 PM
- Online news:
Vietnam leads all foreign investments in Laos, followed by Thailand - with mining becoming the most popular sector for foreign investors, according to the Lao government
The Lao Ministry of Planning and Investment said Vietnam invested in 429 projects in Laos, worth about US$4.9 billion (147 billion baht) from 1989 to 2011, followed by Thailand, which invested in 742 projects worth $4 billion, The Vientiane Times reported on Tuesday.
China came third with 801 projects, with a combined value of $3.9 billion. Other leading investors included South Korea, France, Malaysia, Japan, India, Singapore and the United States.
The ministry began recording foreign investment statistics in 1989, when Laos passed a foreign investment promotion law to lure foreigners to invest in the country.
Laos and Vietnam have an agreement to bolster trade and investment that includes incentives and tax breaks for their respective exporters and investors.
Mining is the most popular sector for foreign investors, accounting for 27% of total investment. It's followed by electricity generation, comprising 25%, according to the ministry.