Laos has become increasingly attractive to foreign investors over the past few years, resulting in expanding and profitable Vietnamese investment. The investment is not only focusing on hydropower, mining and industrial crop plantations, but has also been expanding into telecoms, finance, banking and insurance. In 2009, Vietnam became the largest foreign investor in Laos, with 48 projects amounting US$ 1.5 billion. In 2007, the revenue from trade flow amounted to US$ 312 million, an increase of 20 percent compared to 2006. It then went up to US$ 455 million in 2008, an annual increase of 45 percent. The import and export of the two countries also rose last year. The Lao Ministry of Industry and Commerce has had talks on raising bilateral trade flow up to US$ 1 billion in 2010, US$ 2 billion in 2015, and US$ 4 billion in 2020. Along with the expansion of Vietnamese companies in Laos, the Vietnam Cooperation and Investment Business Association in Laos was established earlier this year. It assembles all Vietnamese companies that are doing business in Laos under the supervision of the Lao National Chamber of Commerce and Industry.
Source: Vientiane Times
