Foreign investment on the rise in Laos
(KPL) 440 million USD of foreign investment was pumped into Laos over the first six months of the 2006-2007 fiscal year which began from October 2006. The Lao government granted licences to 122 foreign investment projects over the period, accounting for 70 percent of the government’s target of 171 for the whole year. The majority of investments were made in the areas of agriculture, garment and textiles, industry, handicraft, mining, energy, trade, hotels, restaurants and services.

For the period, the biggest investors into the country are as follow:
1. China
2. France
3. Japan
4. The Republic of Korea
5. Myanmar
6. Poland
7. Sweden
8. Thailand
9. The US
10.Viet Nam

Source: kpl.net.la

Photo: Kayak in Vang vieng, Laos.

(KPL) Tourism sector attracted over 1.2 million tourists last year, increased by 11% from the year before.

President of National Tourism Administration, Mr Somphong Mongkhonvilay said “2006 was another year the tourism sector has kept its constant growth.”
Last year, the revenue raised by tourism sector was US$ 173.2 million, equivalent to five percent of the national gross domestic product (GDP).
Forty-five tour companies were registered last year, while the number of guesthouses and hotels was increased by 17%. There are over 2,100 guesthouses and hotels nationwide.

“The constant growth of tourism sector in the recent years is due to the certain tourism promotion policy of the government,” said Mr Somphong. “The government has invested in the development of tourism infrastructure such as airports and roads accessing provinces and neighbouring countries. In addition basic facilities have been built to meet the demand of tourists.”
Laos has exempted visas for visitors from eight ASEAN member countries, and a non ASEAN country Japan.