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Chinese investors eye Lao agriculture
Publication Date : 18-09-2013
Chinese investors have expressed interest in Lao agriculture at the 10th China-Asean Expo, held in Nanning, Guangxi province, China earlier this month.
Lao businessman and Golden Mountain Group President, Phoukham Ouanuansa, said he was a long-time furniture exporter and had exhibited at the expo over the last few years.
“This time, I have come to China as a business representative to meet with interested Chinese investors who want to build a connection with Lao businesspeople,” he said.
“During talks many Chinese businessmen were interested in agricultural investment, especially in agricultural processed products.”
Laos' rich soil and abundance of farmland gives the agricultural industry boundless potential, and products like cassava, corn, banana, sugar and other crops have been identified as possibly lucrative on Chinese markets.
In a speech at the expo Prime Minister Thongsing Thammavong said the Lao government welcomed businesspeople from China and Asean member countries.
“The Lao government is ready to provide foreign investors with advantages in terms of relevant policies, guidelines and deals,” he said.
Chinese investment ranks between first and third for total foreign investment in Laos and annual trade volume between the two countries has been increasing year-on-year.
In 2010, trade volume stood at US$1.04 billion, rising 22.72 percent to US$1.28 billion in 2011 and another 32.8 per cent to US$1.728 billion in 2012.