Laos attracts foreign investment
Laos is attracting investments from many countries
worldwide since becoming a member of the Association of
South East Asian Nations, said Deputy Prime Minister and
Foreign Minister on Wednesday.
Speaking at the opening of the 2nd National
Steering Committee for Economic Integration meeting
yesterday in Vientiane, Dr. Thongloun Sisoulith said “We
have good policies aimed at attracting foreign
investment and domestic development.”
Laos is one of the biggest tourism attractions worldwide
and presents excellent profit opportunities for
investors.
Dr. Thongloun said that how the country to catch up the
opportunities provided by foreign investment to link its
economy with other economically successful countries.
Yesterday’s meeting was aimed at gathering ideas,
identifying problems and weak points and designating
responsibilities on economic management to concerned
government sectors.
“The information collated from this meeting will be
discussed and reported to the government,” Dr. Thongloun
said.
Minister of Industry and Commerce Dr. Nam Vinghaket,
noted that Laos still has some problems that need to be
solved, such as some ministries having very wide-ranging
responsibilities, leading to a lack of expertise in
specific fileds. Many ministries also suffer from a lack
of qualified employees.
Another problem is that some lao products are low
quality and production tends to be seasonal. The slow
release of new information affecting the economy and the
lack of coordination between sectors are also of
concern.
