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Vietnam leads foreign investors in Laos
Vietnam is now the largest foreign investor in Laos , according to a recent survey conducted by the Overseas Investment Department under the Ministry of Planning and Investment.
The department’s statistics showed that in the first 11 months of this year, Vietnamese businesses invested in 52 projects with a total registered capital of 450 million USD in Laos , raising the total number of Vietnam ’s projects in the neighbouring country to 146, capitalised at 1.5 billion USD.
The hydropower sector drew the largest share of Vietnamese investment with 54.7 percent of the total registered capital. It was followed by industrial trees planting with 29 percent and mineral exploration with 8 percent.
Projects on growing industrial trees, especially rubber, have seen rapid progresses, accounting for 35 percent of the total disbursed capital.
Vietnamese businesses have to date been running 368 valid projects with a total registered capital of 4.4 billion USD in 44 countries and territories worldwide. Some of them have managed to gain a foothold in important sectors such as oil and gas, chemicals, food processing, banking and tourism, including several large-scale oil exploration and exploitation projects in Algeria and Venezuela .
However, there remain big hurdles for Vietnamese enterprises on their way abroad due to their limits on capital, technology and experience plus an uncompleted legal framework on overseas investment.
To solve these difficulties, the Ministry of Planning and Investment is drafting a project on supporting and promoting Vietnamese enterprises’ overseas investment to be submitted to the Prime Minister for approval.
Businesses that have investment projects abroad are advised to keep close contact with Vietnamese diplomatic and trade representatives in foreign countries to take advantage of their consultations in conducting market surveys and implementing projects.
vna
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