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TMCNet: Vietnam, biggest foreign investor in Laos in 2009

[March 09, 2010]

Vietnam, biggest foreign investor in Laos in 2009

HANOI, Mar 09, 2010 (Xinhua via COMTEX) -- Vietnam was the biggest foreign investor in Laos in 2009 with 48 projects valued at 1.5 billion U.

S. dollars, the Lao newspaper Vientiane Times reported Tuesday.

So far this year, Vietnam continues to be the leading foreign investor in Laos, said Khamla Nakkhavong, Vice President of the Vietnam Cooperation and Investment Business Association in Laos of the Lao National Chamber of Commerce and Industry, the body that assembles all Vietnamese companies that are doing business in Laos.

Vietnam's investment is not only poured into projects of hydropower, mining and industrial crop plantations but has also been expanding into telecoms, finance, banking and insurance, said Khamla.

Lao investment environment in the past few years has become more attractive, offering more incentives for foreign investors.

It partially brings in the expansion of Vietnam's investment in the country, said Khamla.

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