ID :
34455
Mon, 12/08/2008 - 10:20
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http://m.oananews.org//node/34455
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Laos, Japan discuss investment promotion
Laos, Japan discuss investment promotion
(KPL) The Ministry of Planning and Investment and the Embassy of Japan in the Laos held the 2nd meeting of Lao and Japanese public and private sectors joint dialogue last Friday, at the Lao Plaza Hotel in Vientiane to enhance mutual cooperation and promote the investment between two countries.
Attending the event were Dr Sinlavong Khoutphaythoun, Minister of the Planning and Investment of Laos and Mr. Masaaki Miyashita, Ambassador of the Japanese Embassy to Lao PDR and representatives from the Japan Embassy, Japan External Trade Organization (JETRO) in Bangkok, Japan Bank for International Cooperation Office in Bangkok and Japanese International Cooperation Agency in Laos.
Minister Sinlavong said that the outcome of the first meeting was the great beginning to attract the Japanese investment in Lao PDR and this meeting was a dialogue platform between the public and
private sector of the two countries to become a significant mechanism in cooperation and exchange experience with each other.
“The significant achievement received from cooperation between the two countries to promote the investment in several activities,” he added.
Two sides signed an agreement on liberalization, promotion, protection of investment in 2008 and it has been entered into force in August 2008, the visa exemption for Japanese people travelling in Laos for 15 day.
Apart from that, there are several activities on promoting trade and investment under the framework of ASEAN+3 and now there are in the beginning of investment agreement negotiation between ASEAN and Japan.
“Recently, we are in the middle of implementation of the 6th current five-year plan the National Socio-Economic indicated that the Lao economy is continuing growth in average 8 percent since 2005. The inflation remains under control in one digit, rate exchange is stable and political and social stability,” he said. In 2008-2009, there is the world financial crisis, severe flood in September of this year.
However, Laos still achieve the goal to generate GDP reaching 8 percent which expected that the gathering of capital into the development reaching about 32 percent of GDP including 25 percent from private sector.
In the past, the Japanese investment into Laos is increasing gradually, although recently Thailand is the number one ranking of foreign direct investment to Laos, follow by China and Vietnam respectively and Japan is at number 5th ranking of foreign direct investment to Lao PDR and in the approval amount of US$ 421 millions (2000-2008).
At the meeting there was a frank exchange of views mainly on the improvement of investment environment with the purpose of increasing he investment from Japan to Laos.
At the meeting the Lao side presented the “action plan from the Lao side,” which includes a wide variety of concrete actions that Lao side will take in order to improve the investment environment in Laos.
This is the Laos respond to the “action recommendations from Japanese side,” that the Japanese side put forward to the Lao side at the first meeting. The Japanese side appreciated this strong commitment from the Lao side for creating a favourable investment environment in Laos.
(KPL) The Ministry of Planning and Investment and the Embassy of Japan in the Laos held the 2nd meeting of Lao and Japanese public and private sectors joint dialogue last Friday, at the Lao Plaza Hotel in Vientiane to enhance mutual cooperation and promote the investment between two countries.
Attending the event were Dr Sinlavong Khoutphaythoun, Minister of the Planning and Investment of Laos and Mr. Masaaki Miyashita, Ambassador of the Japanese Embassy to Lao PDR and representatives from the Japan Embassy, Japan External Trade Organization (JETRO) in Bangkok, Japan Bank for International Cooperation Office in Bangkok and Japanese International Cooperation Agency in Laos.
Minister Sinlavong said that the outcome of the first meeting was the great beginning to attract the Japanese investment in Lao PDR and this meeting was a dialogue platform between the public and
private sector of the two countries to become a significant mechanism in cooperation and exchange experience with each other.
“The significant achievement received from cooperation between the two countries to promote the investment in several activities,” he added.
Two sides signed an agreement on liberalization, promotion, protection of investment in 2008 and it has been entered into force in August 2008, the visa exemption for Japanese people travelling in Laos for 15 day.
Apart from that, there are several activities on promoting trade and investment under the framework of ASEAN+3 and now there are in the beginning of investment agreement negotiation between ASEAN and Japan.
“Recently, we are in the middle of implementation of the 6th current five-year plan the National Socio-Economic indicated that the Lao economy is continuing growth in average 8 percent since 2005. The inflation remains under control in one digit, rate exchange is stable and political and social stability,” he said. In 2008-2009, there is the world financial crisis, severe flood in September of this year.
However, Laos still achieve the goal to generate GDP reaching 8 percent which expected that the gathering of capital into the development reaching about 32 percent of GDP including 25 percent from private sector.
In the past, the Japanese investment into Laos is increasing gradually, although recently Thailand is the number one ranking of foreign direct investment to Laos, follow by China and Vietnam respectively and Japan is at number 5th ranking of foreign direct investment to Lao PDR and in the approval amount of US$ 421 millions (2000-2008).
At the meeting there was a frank exchange of views mainly on the improvement of investment environment with the purpose of increasing he investment from Japan to Laos.
At the meeting the Lao side presented the “action plan from the Lao side,” which includes a wide variety of concrete actions that Lao side will take in order to improve the investment environment in Laos.
This is the Laos respond to the “action recommendations from Japanese side,” that the Japanese side put forward to the Lao side at the first meeting. The Japanese side appreciated this strong commitment from the Lao side for creating a favourable investment environment in Laos.
