Lao Prime Minister Thongloun Sisoulith (Photo: VNA)Hanoi (VNA) – There has been good progress in investments in Laos, with4,118 enterprises registering and being approved for investment between Januaryand June, according to Lao Prime Minister Thongloun Sisoulith.
He has recently made thestatement at the fifth session of the 8th Lao National Assembly,which opened on June 6.
Foreign enterprises have registereda total investment of about 3.72 billion USD in the country, he said.
Among the registeredprojects, there are more than 20 big projects under Memoranda of Understanding,including 12 power plants, seven mining projects and six tourism and expresswaystudy plans, local online newspaper Vientiane Times said on June 17.
Thongloun also vowed thatthe government continues to remove obstacles and difficulties hamperingbusiness operations and investments.
An official of the Lao Ministryof Planning and Investment's Investment Promotion Department said the value ofinvestments made during first six months of this year was much higher than theamount of the same period last year.
The Lao government willcontinue increasing the effectiveness and efficiency of single-window servicesand management mechanisms at the central and local levels, "particularlyremoving some investment approval procedures and increasing speed andtransparency in business operation approval," Thongloun said.
The World Bank projectedLaos’ economy will grow by 6.7 percent this year while the country’s publicdebt will account for about 61 percent of last year’s GDP.-VNA
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