Laos is appealing for more foreign investors, especially Vietnamese ones, to do business in its capital Vientiane, local newspaper Vietnam News reported Wednesday.
The Lao government has encouraged all forms of foreign investment from business cooperation contracts to joint ventures and wholly foreign-invested firms, director of the Vientiane Department of Industry and Trade Bounpone Sisoulath said at a conference on appealing for investment and trade in Laos held in Vietnam's southern Ho Chi Minh City on Tuesday.
Vientiane is seeking foreign investment for 10 projects in the fields of plastic, pharmaceutical and bio-fertilizer production, medical treatment, textile, garment, agriculture, and shopping center construction, he said.
The government is supporting foreign investors in terms of leasing land, establishing production facilities, granting visas, protecting their intellectual property, offering tax exemption or reduction, promoting infrastructure construction, and fostering manpower training, he said.
Vientiane has attracted foreign investment of 5.7 billion U.S. dollars in 840 projects since 2001, he said.
Vietnam, currently having 106 projects with capital of 504 million dollars, is the third largest foreign investor in Laos after China and Thailand.
Source: Xinhua
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