Vietnam ranks second among foreign investors in Laos
(VOV) -Vietnam has so far invested a total of US$4.7 billion in Laos, making it the second largest foreign investor in the country.
The Ministry of Planning and Investment of Laos reported that total foreign direct investment (FDI) in Laos has amounted to US$24 billion since 1986.
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China tops the list, having injected US$5.2 billion, followed by Vietnam (US$4.7 billion) and Thailand (US$4.6 billion).
The top ten investors in Laos also include Thailand, the Republic of Korea, Japan, France, Malaysia and the Netherlands.
Most FDI projects were focused on hydroelectricity generation, mineral exploitation, agriculture, hotels and hotel services, industry, and handicraft making.
The ministry said foreign investment has helped fuel Laos’ economy to grow at 7.5% annually over the past 10 years.
Laos hopes to attract additional foreign investment in the near future due to its open-door policy and investment incentives.