Thailand looks to Laos for investment opportunities
The Thai Department of International Trade Promotion (DITP) has set its sights on Laos for expanding Thailand’s international trade, seeing the country’s stable economy as a target for investment.
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DITP Director-General Malee Choklumlerd has projected Laos economic growth for this year will come in at no less than 7 percent, considerably higher than other countries in the region.
She foresees its agricultural sector growing 3%, its industrial segment expanding 8% and service industry to grow by 9%.
The Laotian government’s economic plan already outlines attracting investment from Thailand, especially in the realm of organic farming. The government has also placed importance on developing Special Economic Zones with Thailand to attract international investment. Lao operates a Special Economic Zone near the 3rd Thai-Lao Friendship Bridge, posing a prime opportunity for Thai investors.
Over the first 5 months of this year, trade value between Thailand and Lao reached US$2 billion, up 2.38 percent. Thai products with the highest demand in Lao during the period were fuel, automobiles, metals, chemicals, animal feed, frozen chickens, machinery, cosmetics and jewelry.