Over USD 10 billion has been invested in 1,790 projects across the country over the last five years, according to Head of the Investment Promotion Department Houmpheng Soulalay.
Planning and Investment affairs meeting in Vientiane, September 14, 2011.
Most of the investment projects have been reported in Vientiane, representing 420 projects and amounting to USD 4.2 billion, Mr. Houmpheng told a meeting on the Planning and Investment affairs in Vientiane yesterday. He said that the investment by domestic firms represented 25 per cent of the entire investment in the country and it was USD 2.5 billion.
Hydropower industry shares the largest portion (USD 3.4 billion) in the investment chart in the country followed by mining (USD 2.7 billion) and service (USD 1.4 billion).
The investment in agriculture sector over the last five years has been estimated at USD 1.1 billion, according to Mr. Houmpheng.
Vietnam ranks the first largest investor which has invested over USD 2.7billion in Laos since 2006, followed by China having invested over USD 2 billion and Thailand having over USD 1.4 billion invested in various areas in Laos.
Norway and the Republic of Korea rank the fourth and fifth largest investors in the Lao PDR. The two countries have invested over USD 357 million and USD 279 million, respectively, since 2006.
Also present at the meeting were Mr. Thongmy Phomvisay, Deputy Minister of the Planning and Investment, Mr. Kikeo Chanthaboury, Office Head of the Planning and Investment Ministry and relevant officials.
