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Mining sector covers by 80 percent of all investments in Laos
The mining sector was covered by 80 percent of all investments in Laos since 2003, according to last two weeks report of National Economic Research Institute (NERI).
Between 2003 to 2008, the mining excavation of two companies Lan Xang Mineral and Poubia Mining have paid US$635 million of tax to the Lao Government.
The two companies will also give US$185 million of tax to the Lao Government in the period of 2010.
The huge mining excavation has promoted sustainable development, bringing benefits to economic development in the Lao PDR.
In 2008, the Lao PDR's revenue accounting for 45 per cent come from mining sector. In 2009, the tax payment in mining sector reached 12 per cent of state revenue.
Over the next 15 years, the mining sector is expected to contribute 10 per cent of GDP.
At the same times, countries are excavating mining to ask for Laos to control and administrate macro economy by avoiding fast economic growth, upheld laws and effective national expense.
KPL Lao News agency
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