Govt policies place focus on Lao developers
Govt policies place focus on Lao developers
The government's investment policies are now focused on bolstering the capacity of local investors to participate in natural resources development, Deputy Prime Minister Somsavat Lengsavad has said.
Government policies include promoting the use of local resources and manpower wherever possible for the benefit of the Lao people and the country.
“We have natural resources, so we should make use of local companies and people to develop them,” Mr Somsavat said on Saturday while visiting the Lao-Indochina Group Public Company's Tapioca Factory in Pakngum district, Vientiane.
“What I say does not mean we are discouraging foreign investors,” he added. “However, we mainly want to encourage foreign investment in the IT sector, including the assembly of electronic equipment and computers in factories.”
“In recent years, we have brought in companies from overseas to develop natural resources because we did not have enough investment capital initially.”
“Now, we want to encourage local companies to invest in natural resource development, including the construction of hydropower plants and mining projects,” he stressed.
The plan is also to make Lao developers internationally well known, similar to other countries' companies, he added.
“That is our target - to be famous in the global market, and this plan will help in terms of job creation, earnings and poverty reduction.”
vientiane times
