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 hasoff♕ered 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 foreign 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.
The Lao Government will also grant foreign investorspermission to own all improvements and structures on the leased 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 make investors more confide♚nt andsecure about their investment in the country.
Additionally, the Lao Government also offers guaranteesagainst nationalisation, expropriation, or requisition without compensation.
From 1986 to 2014, Laos attracted 16 billion USD inFDI. China is currently the biggest foreign inves꧑tor, followed by Thailand andVietnam. Foreign investors in Laos mainly poured money in mining, hydropowerand agriculture.
The Lao Government is improving the country’sinvestment climate to woo foreign investment in the non-resources sector toensure the suꦺstainable development of the Lao economy.-VNA
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