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June 27, 2007

Long consideration bores investors
A long consideration of investment document processing has obviously bored domestic and foreign investors, according to an official from Asian Development Bank.

A survey conducted since 2005 by the Committee for Planning and Investment in cooperation with the Asian Development Bank shows that the investment condition has also been slowed by contentious taxation, limited access to financial institutes and poor basic infrastructure.

World Bank (WB), Asian Development Bank (ADB) in collaboration with the Committee for Planning and Investment held an “Investment Climate Assessment” Meeting in Vientiane, on June 26, 2007.

More than 35 people from state and private organisations attended the meeting to support the government strategy for promoting a sustainable growth and industrial production.

The assessment will also contribute to the government’s efforts to strengthen its competitiveness in regional arena.

“At the present, the investment climate of the country is increasing especially in the hydropower and mining sectors,” said Director General of Planning Department, Committee for Planning and Investment Dr Khamlien Pholsena. “However the government would amend some policies and legal mechanisms in order to meet the requirement of investors.”

In the first half of this year, the government has already approved 122 investment projects, totaling US$441 million. KPL


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