Laos strives to attract more foreign direct investment
The Lao Government has offered a number of non-tax incentives in a bid to promote the flow of foreign direct investment (FDI) in the country, reported the Vientiane Times on April 27.
Vientiane (VNA) – The Lao Government hasoffered a number of non-tax incentives in a bid ♏to promote the flow of foreigndirect investment (FDI) in the country, reported the Vientiane Times on April27.
The Lao Ministry of Planning and Investment hasupdated a list of non-tax incentives as part of efforts to draw foreigninvestors. One of the incentives allows foreign investors to bring foreignnationals to Laos to conduct investment feasibility studies in the country.
In addition, the government will allow foreign firmsto bring ൲foreign technicians, experts and managers if Lao people are not ableto work for investment projects. It will also permit foreign investors to leaseprivate and government land for up to 20 years and 50 years, respectively.
Theไ Lao Government will also grant foreign investorspermission to own all improvements and structures on the lea⛦sed land, transferleases to other entities, and to sell and remove improvements and structures.
To facilitate travel, the Lao Government will grantvisas and work permits to foreign workers to ꦇmake investors more confident andsecure about their inve🐎stment in the country.
Additionally, the Lao Government also offers guaranteesagainst nationalisation, expropriation, or requisition without compensation.
From 1986 to 2014, Laos aღttracted 16 billion USD inFDI. China is currently the biggest foreign investor, followed by Thailand andVietnam. Foreign investors in Laos mainly poured money in min✤ing, hydropowerand agriculture.
The Lao Government is improving the country’sinvestment climate to woo foreign investment in the non-resources sector toen♏sure the sustainable development of the Lao economy.-VNA
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