China becomes biggest investor in Laos

[Mid]

China becomes biggest investor in Laos
2013-10-21

China was Laos' largest foreign investor in the first 11 months of the 2012-2013 financial year with over $1.33 billion worth of projects, Lao state- run news agency reported on Monday.

During the period, Thailand was the second biggest foreign investor with $416 million, according to Lao Ministry of Planning and Investment (MPI).

The energy sector received most of the investment with $1.56 billion, followed by mining sector with $1.09 billion, said the MPI.

The largest energy investment was poured into the construction of the Nam Ngiep 1 hydropower project in Borikhamxay province with over $868 million. Building of the dam will start in 2014 with construction expected to be completed by 2019. The dam will have a capacity of 290 megawatts.

The Lao government set a target of 8 percent annual GDP growth rate, which requires investment of at least $1.7 billion.

globaltimes.cn

[ENT]

China was the biggest investor in Lao by 2010!

By then most new guest houses and taxi-shuttle services in Luangprabang were Chinese owned and leased by Lao operators.

Vientiane was already getting its riverfront makeover, most of the old riverfront free enterprise restaurants built along the bank above flood water level had been shifted off, and the place has now turned into a surly money grubbing rude rip off, IMO.

[billy the kid]

Riding my bicycle in northern Laos in 2000 i came across Chinese road gangs using dynamite and breaking up rocks with a hammer which were used as base
sometimes had to haul my bike over 6 metre high levels of mud and rock on the narrow roads to continue my journey.
Once they invited me for a nice chinese meal in their camp and refused offer of cash.
Salt of the earth they were.
Told me they built roads in exchange for wood.
Good memories.

[ENT]

Those were the days Billy, treasure the memory, as I do, of unpretentious people and simple lives.