Vientiane Times
The undiscovered investment heaven
Wednesday, March 31, 2004
KEOXOMPHOU SAKDAVONG
A FOREIGN consulting firm said recently that Laos had great potential to attract foreign investors but that it was still hidden.
”There are many potential investment opportunities hidden here, strengthened by the Government's policy on foreign investment,” said Michel Miron, a partner and principal advisor of the OV Group.
The Lao OV consulting enterprise is a member of the OV Group and will organize the first investment consultation workshop in Laos from June 9-11.
Mr Miron has lived in Laos for more than ten years. He said that his company had been studying investment opportunities in Laos for so many months in order to organize the workshop.
He explained that there were some sectors with special investment potential, especially the natural resource sector. Increasing numbers of foreign sompanies had met success in this area especially in mining and hydropower.
“Many things have been changed and improved in this country in recent years to facilitate investment here,” said Mr Miron.
He pointed out that Laos had now established trade relations with over 30 countries and had recently been given free trade and free tariff access to European Union member countries.
These achievements have encouraged greater economic flexibility for both public and private enterprises and many financial incentives for investors are being offered by the government.
Laos , with its key land-linked central location in South-East-Asia, is well positioned to provide business leaders, from within the region and abroad, an excellent platform to stake their business claims in the region.
He also highlighted the labour potential of Laos which has a young labour force. In 2010, more than 60 per cent of the population will be under 19.
“ Laos has great potential to produce a quality labour force. They only need training and they will produce good quality work,” he added.
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