Laos seeks Indian investment

New Delhi: The Government of Laos PDR is considering investment laws that would allow 100 per cent foreign equity in projects without any conditionality on the minimum amount of capital that has to be brought in, stated the country’s Minister of Planning and Investment, Mr Soulivong Daravong, at an industry meet organised jointly by the CII, FICCI and Assocham.

He said investment laws were likely to be reviewed by the end of the year.

Inviting the Indian companies to invest, the Lao PDR President, Mr Chaommally Sayasone, said, “The Laos is growing at a GDP growth rate of eight per cent plus since 2006. We are aiming to graduate from the less developed country status by 2020.”

The Assocham past President, Mr Govind Hari Singhania, said that India-Laos trade at $2.74 million did not reflect the tremendous potential that existed in doing business, emphasising on mining as a major area of collaboration between the two countries.

The chambers estimate that there is opportunity in drugs, pharmaceuticals, chemicals, fertilisers, hydrocarbons, food processing and two wheelers business through which Indian companies could benefit.