Investment in Laos rises 5.1%

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laos-investmentThe Lao Ministry of Planning and Investment has reported that the value of investment projects in the first 11 months of the fiscal year up to August 2013 exceeded that of the previous year, the Vientiane Times reported.

The ministry said on October 18  that it accepted 52 investment projects from both local and foreign investors worth a total of more than $3.04 billion, 5.1 per cent higher than in the previous fiscal year.

The energy sector received the largest amount of investment at over $1.55 billion, followed by the mining sector with over $1.09 billion in 37 projects, while $109 million was invested in hotels and restaurants and the rest into other projects.

The largest amount of investment in energy is for construction of the Nam Ngiep 1 hydropower project in Borikhamxay province with more than $859 million, the report noted. Building of the 290-megawatt hydropower dam will start in 2014, with construction expected to be completed in January 2019.

The ministry said nationwide investment came from 12 countries, with China investing the largest amount with more than $1.32 billion, while Lao businesses invested more than $542 billion. In third place was Thailand, with companies investing more than $411 billion into projects in Laos.

The government is targeting annual GDP growth of 8 per cent. To achieve this, investment amounting to no less than $1.7 billion) must be sourced from local and foreign investors.

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Reading Time: 1 minute

The Lao Ministry of Planning and Investment has reported that the value of investment projects in the first 11 months of the fiscal year up to August 2013 exceeded that of the previous year, the Vientiane Times reported.

Reading Time: 1 minute

laos-investmentThe Lao Ministry of Planning and Investment has reported that the value of investment projects in the first 11 months of the fiscal year up to August 2013 exceeded that of the previous year, the Vientiane Times reported.

The ministry said on October 18  that it accepted 52 investment projects from both local and foreign investors worth a total of more than $3.04 billion, 5.1 per cent higher than in the previous fiscal year.

The energy sector received the largest amount of investment at over $1.55 billion, followed by the mining sector with over $1.09 billion in 37 projects, while $109 million was invested in hotels and restaurants and the rest into other projects.

The largest amount of investment in energy is for construction of the Nam Ngiep 1 hydropower project in Borikhamxay province with more than $859 million, the report noted. Building of the 290-megawatt hydropower dam will start in 2014, with construction expected to be completed in January 2019.

The ministry said nationwide investment came from 12 countries, with China investing the largest amount with more than $1.32 billion, while Lao businesses invested more than $542 billion. In third place was Thailand, with companies investing more than $411 billion into projects in Laos.

The government is targeting annual GDP growth of 8 per cent. To achieve this, investment amounting to no less than $1.7 billion) must be sourced from local and foreign investors.

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