More and more Vietnamese businesses are expanding their operations in Laos thanks to its favourable policies for foreign investors and the traditional relationship between the two countries.
Hoang Anh Gia Lai (HAGL) group has started the construction of a US$100 million industrial cluster in Attepeu, increasing its total capitalization in the country to US$1 billion.
HAGL President Doan Nguyen Duc said the southern region of Laos, with abundant natural resources, will be an attractive investment destination for his group.
|A rubber plantation invested by Vietnamese business in Attepeu province |
The Dak Lak Rubber Company is also implementing a project worth US$50 million to plant 10,000 ha of rubber trees in southern Laos.
According to Vietnamese Ambassador to Laos Ta Minh Chau, Vietnam is now Laos’ third biggest foreign investor, with total capitalization of US$3.7 billion.
He affirmed that there is still great potential in the market and called for more Vietnamese businesses to seek investment opportunities in the neighbouring country.