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NEWS UPDATES Asean Affairs   28 November 2013  

Laos seeks foreign direct investment from South Korea

The Lao government has turned its attention to South Korea as a new source of Foreign Direct Investment following a successful trip by Lao President Choummaly Sayasone to Seoul to encourage investment in Laos according to state-run daily Vientiane Times, Wednesday.

During his stay in Seoul President Sayasone met with members of the business community. Sayasone emphasized Laos' rich natural resources, stable politics and fast economic growth as benefits for foreign investors.

South Korea is currently Laos' fourth largest foreign investor behind Vietnam, Thailand and China. There are currently 256 South Korean investment projects in the country with a value of approximately 889 million U.S. dollars. The majority of South Korean investment projects are in the fields of hydropower and mining but there is increasing interest in Lao agricultural and industrial sectors.

At his meeting in Seoul, Sayasone said that Laos had implemented policies to boost Foreign Direct Investment since 1988. Since that time Laos has continually sought to meet the needs of investors as well as ensure the sustainability of the national economy.

Foreign investment in Laos is a lynchpin of the national strategy to maintain 8 percent annual GDP growth from 2011-2015. Approximately 15 billion U.S. dollars of investment is required annually to achieve these growth targets. The Lao government aims to catalyze growth in order to graduate from the UN list of least developed nations by 2020.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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